Intro to Bozeman

New Real Estate Trends in Bozeman

by Liz Nitz

New Real Estate Trends in Bozeman

The pandemic and remote work are resulting in new real estate trends.

We saw a big influx of out-of-town buyers in 2020 that was mainly fueled by the pandemic. I think what is driving home-buying decisions is interesting and we are seeing some new real estate trends in Bozeman.

As remote work becomes more of a permanent fixture in the workplace, I think we will continue to see new people coming into our state. (According to a survey done by Redfin in November and December 2020, 34% of respondents have already moved to a different city or area and another 33% would like to.)

 

New Real Estate Trends in Bozeman

People are buying more for lifestyle The lifestyle buyers envision for themselves is very location-oriented right now. Bozeman is an ideal town for many reasons: low population, plenty of outdoor activities, family-friendly community, great schools, etc. Whether companies let the people stay remote is tied to their productivity. I have heard many employers say they have been happy with productivity thus far.

Seller and buyer fatigue It’s a seller’s market in Bozeman right now. And many sellers are getting overwhelmed with multiple offers at once. On the flip side is buyer fatigue. The market is so heated and buyers are getting tired of multiple offers that they don’t win, so they just give up.

More sight-unseen purchases The competitiveness of Bozeman’s market is resulting in homes being bought sigh-unseen and more cash offers, as well.

 

Housing with remote work in mind

  • Live/work: There are already a few live/work spaces in Bozeman and more coming down the pipeline. These will continue to gain traction with buyers who are looking for a totally separate workspace where they can set up an office. The great thing about live/work housing is that it is zoned for commercial use and has separate entrances for living and working spaces. Live/work housing gives you the option of having multiple people in the office with you or you could rent out the commercial space as an income generator.
  • Future of home design: The pandemic brought on major paradigm shifts in what people want in their homes. The must-haves are now a dedicated room for a home office; a nice outdoor space for gathering with friends and neighbors; and a bonus room for the kids, working out, or just to escape family members. It will be interesting to see the future of home design now that many people will be working remotely indefinitely. There is a great article in The Atlantic about this.

iBuyers

iBuyers This is a fairly new way to buy/sell homes and I’m not sure what kind of presence they will have in Bozeman.  iBuyers are online platforms that buy homes directly from a seller in a simple online transaction. Formula is generally that the firm will pay 95% market value for your home. And charge some additional fee but usually not as much as a real estate agent.  The process is pretty streamlined but the value of your home is dependent upon a computer algorithm and doesn’t take anything special about your home into account.

The buying process can be fast. But there will not be a personal service that a real estate agent provides to help. You navigate all the issues that come with closing a large financial transaction.  Established real estate players like Zillow and Redfin have gotten into the game. And it’s still to be determined how well consumers will embrace this trend. Check out this link for more info.

Our housing market is a whirlwind right now. If you have any questions on new real estate trends in Bozeman, feel free to contact me at liz@windermere.com.

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What to Expect in Bozeman Real Estate in 2021

What to Expect in Bozeman Real Estate in 2021

Bozeman real estate in 2021 is currently in a seller’s market. From 2019 to 2020, the median sales price increased from *$399,900 to $420,000 and inventory dipped to 0.4 months supply. My prediction is that it’s not going to get any better or less competitive

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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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2000 Goose Ridge, Bozeman, Montana 59715

2000 Goose Ridge, Bozeman, Montana 59715

2Bedroom(s)
2Bathroom(s)
20.94Acre
1,971Sqft
Amongst the trees atop Goose Ridge you’ll find this beautiful mountain property. Built in 2001 on over 20 acres this 1,971 sq ft 2 bedroom, 2 bath log home is both comfortable and spacious. A partially covered wraparound deck steps down to an outdoor fire pit. The great room offers a lovely venue to take in expansive Absaroka views.
$845,000

27 Noble Peak Drive, Bozeman, Montana 59718

27 Noble Peak Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.26Acre
2,152Sqft
Beautiful 2020 built farmhouse in a quiet location in sought-after Woodland Park. Enjoy the rural and mountain views from the 11,000+ sqft lot that is fully fenced, sprinklered, and landscaped. The home is light, bright, and elegantly appointed in every detail. The open concept floor plan allows a nice flow between living spaces and access to several outdoor areas.
$779,000

2440 Tschache Lane 302, Bozeman, Montana 59715

2440 Tschache Lane 302, Bozeman, Montana 59715

2Bedroom(s)
1Bathroom(s)
1,063Sqft
These homes have modern finishes and open floor plans. The site is surrounded on 3 sides by a city park and open space, allowing for awe-inspiring views in nearly every direction. All of this from a central location within walking distance from shopping, restaurants, and retail. Start your day with Starbucks coffee (only a block or so away).
$460,000

333 New Ventures Drive, Bozeman, Montana 59718

333 New Ventures Drive, Bozeman, Montana 59718

2Bedroom(s)
1Bathroom(s)
0.81Acre
1,088Sqft
Many opportunities on this Four Corners Commercial Zoned Property! The property is currently laid out to feature (3) rentals for either short and/or long term. The 1st structure is a custom crafted cottage with many details throughout with super efficiency, charm & functionality.
$925,000

3401 Fallon 1B, Bozeman, Montana 59718

3401 Fallon 1B, Bozeman, Montana 59718

2Bedroom(s)
1Bathroom(s)
936Sqft
Awesome opportunity to own in Bozeman! This single story main floor 2 bed, 1.5 bath condo has an easy floor plan. Brand new carpet just installed and washer & dryer are included. 1 car detached garage plus parking on street. Fireplace will keep you warm and cozy this fall! Conveniently located close to MSU, mall/shops, grocery and restaurants with Ferguson Farms/The Market just down the road.
$310,000

404 Fieldstone Drive, Bozeman, Montana 59715

404 Fieldstone Drive, Bozeman, Montana 59715

4Bedroom(s)
2Bathroom(s)
0.24Acre
2,134Sqft
Are you looking for more than just a tract home? Do you recall as a child riding your bike down tree-lined streets in a quiet, safe neighborhood? How about the Ice Cream truck driving down the street bringing all your friends outside for a frozen treat? Well, we can't turn back the hands of time, but we have the next best thing.
$675,000

5443 Vahl Way, Bozeman, Montana 59718

5443 Vahl Way, Bozeman, Montana 59718

4Bedroom(s)
1Bathroom(s)
0.12Acre
2,924Sqft
Spectacular setting, home, and neighborhood. This 2019 Parade of Home's entry allowed no detail to be overlooked. Custom additions on this home will provide so much enjoyment and value to the lucky new owner. From the office at the front entry of the home, which showcases one of the lakes, to the spacious great room, kitchen and dining combination; the views abound.
$1,049,900

3024 S 31st Avenue, Bozeman, Montana 59718

3024 S 31st Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.10Acre
2,128Sqft
Encounter Gran Cielo, Bozeman’s newest neighborhood. Where contemporary design meets classic community. Located in the heart of all that Bozeman offers, with easy access to everything. The Lagom N1 is 2,128 sq ft, offering 2 living areas, 3 bedrooms, 2.5 bathrooms with office space.
$775,000

1802 W Lincoln Street 13, Bozeman, Montana 59715

1802 W Lincoln Street 13, Bozeman, Montana 59715

3Bedroom(s)
1Bathroom(s)
1,349Sqft
Beautifully remodeled 3 BR, 1.5 BA townhouse-style condo adjacent to Montana State University. Stunning kitchen renovation with all new black stainless appliances, new counters, new soft-close cabinets, new tile flooring, new canned LED lighting and a massive pantry with a custom alder sliding barn door.
$407,000
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Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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