March Bozeman Real Estate Report

Tim Ford  |  Tuesday Mar. 3rd, 2015

As I write this, winter in Bozeman has not been behaving like winter in Bozeman. It’s been in the 50s for weeks and has even dipped up into the 60s at times. Then just before this went to print, winter (or at least snow) returned to the valley.  
While the warmer weather hasn’t been great for those hoping to enjoy all the snow sports around Bozeman, it has made showing Real Estate more enjoyable, and as such Bozeman is seeing a very active market this season.

I’ve had a lot of questions from people around town asking me what price ranges are selling well and what is in high demand, so I thought it would be nice to analyze past sales based on price range.  

Looking at single family homes sales going back to January 1st of 2014, 941 homes have sold to date in and around Bozeman (not including Belgrade). Of those sales, 139 homes were priced under $250,000. The largest number of homes sold was in the $250,000 to $300,000 price point, where 252 homes sold. $300,000 to $350,000 is the next highest price point at 144 homes, and from there the number of sold properties just slowly ticks down as the prices go up.  

$350,000 to $400,000: 121 homes sold. $400,000 to $450,000: 80 homes sold. $450,000 to $500,000; 55 homes sold. $500,000 to $550,000: 29 homes sold. $550,000 - $600,000: 20 homes sold. Above the $600,000 price point, I analyzed larger price brackets than $50,000 jumps. For the $600,000 to $750,000 range: 47 homes sold. $750,000 to $1 million: 24 homes sold. Above $1 million: 30 homes sold.  

So, homes are selling in all the price brackets and Bozeman is seeing many types of buyers returning to the market. First time buyers make up a large chunk of the market, but so do move up buyers that are looking for something larger to accommodate their growing family. Bozeman has also seen a lot of vacation home buyers returning to the area as well as MSU parents & investors.

The included data reflects sales of homes in the greater Bozeman area, including Four Corners, Gallatin Gateway, Bridger Canyon, and Bozeman city limits. The data includes home sales reported through the local Southwest Montana MLS, and does not include private party sales.  The information provided by the Gallatin Association of REALTORS Corporation / Southwest Montana MLS is compiled from miscellaneous sources and neither the association, nor the listing broker, nor its agents or subagents are responsible for the accuracy of the information.   

 

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