Bozeman Montana Real Estate Market - Bozeman Real Estate Group

Bozeman Market Report

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Bozeman Big Sky Belgrade Livingston Three Forks Manhattan

Is Bozeman, MT a buyer’s
or seller’s market?

This snapshot of Bozeman's housing market is based on the months supply of inventory and is calculated by dividing the number of homes on the market by the number of homes that have sold in the last month.

A BUYERS
MARKET
A market moves into one that favors buyers when the months supply of inventory is more than 7 months.
NEUTRAL
MARKET
A market is considered neutral when the months supply of inventory is between 5-7 months of inventory.
A SELLERS
MARKET
A market is one that favors sellers when the months supply of inventory is less than 6 months.
Needle

Overview

Bozeman's real estate market has been favoring sellers for several years. As mortgage rates rise and the real estate market cools down, we are starting to see the real estate market shift towards a more neutral market.

How much do homes cost
in Bozeman, MT?

This median sold price includes single-family homes, condos, and townhomes and is based on monthly data.

$660,000

(-18.77%) Year Over Year Change

Overview

For the most part, the median sale price of a home in Bozeman has hovered in the mid-700k range since the spring of 2022. This is the first time we have seen the number drop below 700K since December 2021.

What do different types of homes cost?

This is the median price for each home type sold in the specified area. The median sold price is based on monthly data. The median sold price for a townhome in Bozeman is higher than normal. There were only two townhomes sold during the month of January, one of which was nearly $1.5 million. We expect to see this number correct next month.

Type Feb 2022 Feb 2023 Year Over Year Change
Single Family
$1,272,500
$845,000
34%
Townhome
$440,000
$572,500
30%
Condo
$660,000
$485,750
26%

What do homes cost in other areas?

This is the median price for which single-family homes, condos, and townhomes were sold in the specified area. This number is based on monthly data.

City Feb 2022 Feb 2023 Year Over Year Change
Big Sky
$1,165,000
$2,502,500
115%
Belgrade
$605,500
$545,000
10%
Livingston
$349,750
$455,300
30%
Three Forks
$460,000
$392,600
15%
Manhattan
$450,000
$699,000
55%

How many homes have sold in Bozeman, MT?

This is the total number of residential properties (single family homes, condos and townhomes) sold in this area during the reported month.

Feb 2022

69

Feb 2023

63

Year Over Year Change

9%

How Many Homes Sold Over the
Asking Price in Bozeman, MT?

This is calculating how many homes sold (including single-family, condo, and townhomes in the specified area) for over the asking price vs under the asking price in the past month.

Overview

This is a great signal that Bozeman's real estate market is coming back to a more balanced market.

16 Homes Were Sold
Under Asking Price

6 Homes Were Sold
At Asking Price

2 Homes Were Sold
Over Asking Price

What Percentage of the Listing
Price Are Sellers Getting?

The original price received is the average of the sales price divided by the original list price expressed as a percentage.

95.1%

-4% Year Over Year Change

How long does a home spend on the market?

This is the median number of days between when a home is listed and when it goes under contract.

Feb 2022

3

Feb 2023

21

Year Over Year Change

600%

Are you thinking about buying or selling in this area?

Let us know how we can help!

Are you thinking about buying or selling in this area?

Let us know how we can help!