I was shocked to see some of these numbers in a recent market update from March 2021 and I wanted to share this with you.
Check out the NEW Median Sales Price this past month, March 2021. We are now at $709,000!!!! This is unreal. In March of 2020, the Median Sales Price for a single family home was just under $500,000. The median sales price has ALMOST DOUBLED! You can see that we are at an incredible LOW supply of inventory at less than 1 month. With a drop of 76% of inventory from last year same time, we are in desperate need of homes to sell.
Even more staggering of numbers are the homes OUTSIDE of City Limits with an increase of 63% in median sales price ($893,000) over the last year for single family homes. Even higher at 67% increase in the last year for Average Sales Price coming in at a whopping $1.2M!
We are still seeing a high activity of buyers, working with a lot of relocation buyers, and inventory is starting to increase but we are still at less than a month of supply.
The big question is "WHY"? Why are homes in Bozeman selling for these numbers? Why Bozeman?
Our valley has cultivated a great community, healthy economy, high tourism from Yellowstone National Park and skiers flocking to Big Sky Resort. It is becoming easier and easier to get to places around the country with more than 30+ direct flights. Our summers are the best time to visit but we are seeing more tourists more now than ever come during our shoulder seasons and dead of winter. Truly, COVID has upped the interest to relocate to a small town like Bozeman to get away from the busy hustle and bustle of big cities, escape the traffic, escape the pollution and find solace in the outdoors and mountains we appreciate so much.
If you have any questions about the Bozeman real estate market, or would like to know more how to compete in today's market, please call/email/text. I would love to share my experience and past sales with you!
Also, follow me on social media to stay current with listings as they hit the market!Posted by Marisa Owen on
Marisa Owen - Realtor