Intro to Bozeman

Belgrade 2019 Real Estate Trends

by Liz Nitz

Belgrade December numbers are in!  Let’s take a look at the Belgrade real estate pricing trends of 2019, compare it to trends of previous years of 2017 and 2018 and check the crystal ball for 2020.  The following numbers represent all sales in each category for each year and numbers are coming from the Big Sky MLS.

 

Median Sales Prices

First up are median sales prices.  I have divided these sales into Single family, Townhomes, and Condos.  We see a not unexpected increase in median sold prices in all three of these categories BUT we also see a slowing rate of increase which is great news for buyers. This statistic bolsters the thought that the real estate market is becoming more balanced.

Belgrade housing market December median sales price by property type

 

 

Median Price Per Square Foot

Second number I checked to confirm the median sales price slow down, was the median price per square foot. And I reached the same conclusion, that prices are indeed slowing their rate of increase.

Belgrade housing market December median price per square foot by property type

 

 

Days On Market

To help round out the picture of the market conditions, I then took a look at days on market.  If days on market is a large number and homes are languishing on the market, then we would have certainly turned the corner to a buyer’s market.  But alas, this is not what I found and in fact, homes in all categories are still moving along at a good pace with a decrease in DOM actually found in the townhome category.

Belgrade housing market December median days on market by property type

 

 

Looking Ahead to 2020

So what does this mean for Belgrade real estate pricing in 2020?  All indications currently point to a very similar year in 2020 as in 2019.  Mortgage rates are now very low (under 3.7% for conventional 30 year fixed!) which will make it attractive for people to consider a home purchase.  As seen below, Belgrade remains an attractive alternative to Bozeman, and builders are building new homes, especially single-family, as fast as they can.

Belgrade housing market December closed sales by property type

 

 

Even with that though, there is still less than 3 months of inventory on the market.

 

Belgrade housing market December months supply of homes for sale by property type

 

 

I have attached a great listing that is representative of single-family homes in Belgrade.  Thanks to Dina Emmert.  https://www.windermere.com/listing/MT/Belgrade/1547-Powers-59714/103416383

These numbers reflect sold pricing.  Remember that Montana is a non-disclosure state so only licensed realtors can access accurate data.  If you would like to dive deeper into market trends, please reach out and let’s have a conversation! Keep an eye on the blog at https://movemetomontana.com/  for more ongoing analysis. I hope you found this helpful – please pass it on!!

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The following homes listed below were just listed in the last 7 days. This seller’s market is hot so we keep a close eye on the latest inventory. Subscribe below for instant updates of your ideal criteria.

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334 Herstal Way, Bozeman, Montana 59718

334 Herstal Way, Bozeman, Montana 59718

4Bedroom(s)
1Bathroom(s)
0.08Acre
2,096Sqft
Form & Function are on display in this concise and well-appointed plan by Higher Standard Homes. Living room with laminate hardwood seamlessly flows through the dining area and into the kitchen which features quartz counter tops, stainless appliances, modern Bellmont cabinets and large slab island. Upper level boasts spacious master with dual vanities, tile surround shower and walk-in closet.
$719,900

3010 W Villard Street 1F, Bozeman, Montana 59718

3010 W Villard Street 1F, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,308Sqft
Well maintained and move-in ready upper level 3B/2B condo in Morgan Creek. This home also has a 1 car detached garage and spacious bedrooms. Fantastic central Bozeman location.
$415,000

391 Annie Glade Drive, Bozeman, Montana 59718

391 Annie Glade Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.30Acre
2,529Sqft
This lovely, light-filled home in Elk Grove is located at the end of cul-de-sac on a larger lot with a beautifully landscaped & fenced yard that backs to open space. This well-appointed home includes 4 bedrooms, 2.5 baths plus office and guest cabin. The main level master features a large ensuite bathroom with soaker tub. Beautiful hardwood floors cover the main living spaces and bedrooms.
$749,000

1028 Boylan Road, Bozeman, Montana 59715

1028 Boylan Road, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
0.24Acre
2,712Sqft
Fantastic and flexible single level floor plan in Bridger Creek Subdivision is under construction and expected to be completed by mid-March 2022. High quality finishes include an extensive cabinetry package, custom built ins, tile, luxury vinyl flooring and quartz counters. Matte black fixtures enhance the sleek modern flair of this 2700 + Sf home.
$995,000

1045 Boylan Road 3, Bozeman, Montana 59715

1045 Boylan Road 3, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
2,205Sqft
Great condo in a great location! Situated on the number 6 hole on Bridger Creek Golf Course, this light filled condo is central to all that is great about living in SW MT! Minutes to downtown Bozeman, surrounded by trails, and easy to hop on the walking or bike path to the M and Drinking Horse Mountain. Golf all summer and xc ski on the groomed trails out your back door all winter.
$775,000

2400 Durston 8, Bozeman, Montana 59718

2400 Durston 8, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,755Sqft
Beautifully updated and move in ready, single level home in the desirable Willwobrook Condos. This home features a large master suite w/walk-in closet, private fenced patio and a remodeled 3/4 bath with gorgeous walk-in shower. Luxurious new wool carpet. Granite counters in kitchen and 2nd bath. Kitchen features newer stainless appliances, pull outs in lower cabinets and a sizable pantry.
$725,000

6651 Gooch Hill Road, Bozeman, Montana 59718

6651 Gooch Hill Road, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
6Acre
3,908Sqft
Great horse property just minutes to downtown. This home has had many updates, including new paint, flooring, fixtures, hardware, lighting, bathroom etc. in 2021/2022. Perfect set-up for the horse lover, with multiple pastures, barn with stalls, tack area, hay storage, round pen, and various outbuildings. 4 beds and 3.5 baths in the house gives you plenty of room.
$1,895,000

305 Michael Grove Avenue 2A, Bozeman, Montana 59718

305 Michael Grove Avenue 2A, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
953Sqft
Single-level, 2-bedroom 2-bath, newly painted, ground floor, corner unit condo with lots of natural light from north and eastern-facing windows. Open concept living and dining area, opening up to small patio. Main entry is a preferred south facing entry. Condo has central air conditioning(!), a 1-car detached garage with loft storage, and a reserved parking space.
$340,000

439 N 10th, Bozeman, Montana 59715

439 N 10th, Bozeman, Montana 59715

4Bedroom(s)
1Bathroom(s)
0.18Acre
2,200Sqft
GREAT LOCATION! Close to Bozeman Senior High School 4BR 2BA Rancher with full basement and CONVERTED SHOP to a 400SF+ STUDIO/COTTAGE, additional living space in the backyard. Studio has 3/4 bath, small kitchenette w/sink, AC/Heat Mini split, stacked W/D, gas stove heater and walk-in closet. EXTRA PARKING accessed from alley.
$685,000
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Windermere Downtown logo Bozeman Real Estate Agent Liz Nitz

Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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