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 that to your advantage sellers.
Here's a recap of where we stand:
- 49% percent INCREASE on median sales price the month of December
- CURRENT median sales price is $540,000 {HOLY SMOKES} and December 2020 capped us at $642,000 median price
- Inventory plummeted with a 79% decline
- Inventory currently stands at 2 weeks of inventory
Where do the numbers stand outside of Bozeman city limits?
- 23% percent INCREASE on median sales price year to date
- Year to Date median sales price for outside city limit properties is at $681,000" (2019 it was $554,000)
- Average days on market in Dec 2020 was nearly cut in half
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