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Found 4 blog entries about Real Estate Market Update.

Needless to say, 2020 was wild, chaotic and unpredictable in so many facets of our lives. The Bozeman Real Estate Market took OFF. 

Let's not panic. If you own home in Bozeman, you are sitting on some serious appreciation. If you do not own a home yet, don't worry; it is not too late and you will be able to afford a home. You will just need to be patient with this market, wait for the inventory to come up, and work with a Realtor closely to identify and guide you in this hot market.


Attention Sellers: If you are looking to SELL, well it is an amazing time to consider. First step, ask for a sales valuation (this is free, no commitment). Pretty much every month that goes by, we are seeing major appreciation occur on homes which means you can play…

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During this pandemic, our market has done some wild things since March 2020. We (Bozeman) have been discovered big time. Check out this Bloomberg article and how our small town is rapidly changing with each sale that occurs. 
(Photo of Elk Grove subdivision by Townsend Collective)


A substantial increase of relocation buyers coupled with low housing inventory has generated high real estate prices and jumped rental prices as well. I'm catching updates from friends and family in San Francisco and New York with more and more companies permanently closing down their offices, permanently allowing their employees to go remote indefinitely, and creating the push for city folks to find solace in places like Bozeman.
(Photo of 100 Acre Park/Gallatin…
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Every 5 to 6 years, the U.S. Census Bureau provides data on our city, county, jobs, real estate data. Here are some data points from a City of Bozeman report on Demographic and Real Estate Market Assessment published in 2018. Check out the highlights below! 

 

City of Bozeman Population 
45,250

Population Growth projection for the Gallatin County by 2045 is 159,000 people
2017 - Current Population in Gallatin County is 105,000 people

In the next 28 years, Gallatin County is projected to grow at 2,000+ people per year until 2045.

Out of this growth, about half of the growth is likely to occur in the City of Bozeman. 

Land Demand Projections 
For residential, single family dwellings the density standard will be 3.0 units per every 1 acre. This is an…

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Some interesting takeaways how the Bozeman Real Estate market is doing.
(Note: These numbers are a reflection of homes in city limits only.) 

  • The Median Sales Price for Single Family homes in Bozeman has seen a $75,000 increase September 2018 compared to September 2017.  
  • Year to Date, we are looking at an AVERAGE sales price of $343,000.
  • There has been a 9% increase year to date of sold properties in Bozeman. 
  • Lastly, this statistic is always interesting. Percent of List Price received came in at 99.2% year to date. 

  • There was a 48% increase in pended condos and townhomes 
  • The average sales price was at $353,000 for a condo or townhome, a 21% increase same time last year. 
  • We saw a lot longer days on market the month of…
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