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Bozeman 2019 Real Estate Pricing Trends

by Liz Nitz

Bozeman 2019 Real Estate Pricing Trends

Bozeman December numbers are in!  Let’s take a look at the Bozeman 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 and bolsters the thought that the real estate market is becoming more balanced.

Bozeman housing market December median sales 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.

Bozeman 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 single family home category.

Bozeman housing market December median days on market by property type

 

 

Looking Ahead to 2020

So what does this mean for Bozeman 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.  Movement to the Bozeman area is expected to continue at similar rates (about 1500 people a year) as in previous years.

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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1582 New Holland Way, Bozeman, Montana 59715

1582 New Holland Way, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.16Acre
1,685Sqft
Stunning brand-new to be built, home, located in a convenient in town location. Walking distance to the Gallatin Regional Park, Dinosaur Playground, Dog Park and ponds. Homes feature shaker cabinets, quartz counters, luxury vinyl plank flooring. 8 foot doors throughout! A generous Master suite with huge walk-in shower, dual vanities and spacious closet. Good size living, dining, kitchen areas.
$487,500

1560 New Holland Drive, Bozeman, Montana 59715

1560 New Holland Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.12Acre
2,015Sqft
Stunning brand-new home to be built, located in a convenient in town location. Walking distance to the Gallatin regional park and Dinosaur playground. Home will feature shaker cabinets, quartz counters, luxury vinyl plank flooring. Main level has a 1/2 bath, living, dining, kitchen. Stainless appliances, enormous garage.
$525,951

434 Black Bull Trail B, Bozeman, Montana 59718

434 Black Bull Trail B, Bozeman, Montana 59718

1Bedroom(s)
1Bathroom(s)
776Sqft
Easy lock & leave lifestyle in one of Bozeman's most sought after communities! Find your piece of Montana in these brand new 1 bedroom condos, located steps from all of Black Bull's incredible amenities. These units are single level with a spacious bedroom and full luxury bathroom. Exquisite finishes are included throughout.
$359,000

402 Meriwether Avenue, Bozeman, Montana 59715

402 Meriwether Avenue, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
0.13Acre
1,864Sqft
This townhome is in the heart of Bozeman is estimated to begin construction in November 2020. Units will include modern finishes such as LVP flooring, stainless appliances, granite counter tops, decks for entertaining, and a full landscape package. Interior units are 1,588 sq. ft. with 2-bedroom, 2-baths with single attached garages. Exterior units are 1,864 sq.
$435,000

432 Meriwether Avenue, Bozeman, Montana 59715

432 Meriwether Avenue, Bozeman, Montana 59715

3Bedroom(s)
3Bathroom(s)
0.10Acre
1,864Sqft
This townhome is in the heart of Bozeman is estimated to begin construction in November 2020. Units will include modern finishes such as LVP flooring, stainless appliances, granite counter tops, decks for entertaining, and a full landscape package. Interior units are 1,588 sq. ft. with 2-bedroom, 2-1/2 baths with single attached garages. Exterior units are 1,864 sq.
$435,000

67 Wickwire Way, Bozeman, Montana 59718

67 Wickwire Way, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.19Acre
2,067Sqft
Settle into new construction at Black Bull. Located steps away from club amenities and backing to open space, "The Bungalow" offers single level living at its finest. The Bungalow is just over 2,000 sq feet, with 3 beds and 2.5 bathrooms.
$849,000

1484 Stewart Loop, Bozeman, Montana 59718

1484 Stewart Loop, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
2.26Acre
3,181Sqft
Welcome to Sunrise Homes in Gallatin Heights subdivision, located in beautiful Bozeman, Montana! This 3,181 sqft home is absolutely stunning! With 4 bedrooms, a flex room that can be used as an office or study with double glass doors just off the entrance, 3.
$794,804

1704 Lincoln Street C1, Bozeman, Montana 59715

1704 Lincoln Street C1, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
1,041Sqft
Sweeping views of the Bridger Mountains from this brand new condo complex, and incredibly well located; just a short walk from the Bozeman Fieldhouse. These new construction condos boast dual bedroom ensuite. Bathroom shower and floor are tiled, and shower doors are glass.
$339,500

1704 Lincoln Street B8, Bozeman, Montana 59715

1704 Lincoln Street B8, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
1,041Sqft
Sweeping views of the Bridger Mountains from this brand new condo complex, and incredibly well located; just a short walk from the Bozeman Fieldhouse. These new construction condos boast dual bedroom ensuite. Bathroom shower and floor are tiled, and shower doors are glass.
$339,500
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Bozeman, MT 59715

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