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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2755 Graf Street, Bozeman, Montana 59718

2755 Graf Street, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,083Sqft
Welcome to the Kul Condos at Gran Cielo. These luxury condos feature all the high end finishes you've come to expect with a CP Haus built home. These large 3 bedroom, 2.5 bath condos feature huge euro-style windows, Scandinavian finishes with custom tile, designer hardware and fixtures, KitchenAid appliance package, quartz counter tops, solar system, and A/C.
$620,000

14948 Pony Creek Road, Bozeman, Montana 59715

14948 Pony Creek Road, Bozeman, Montana 59715

1Bedroom(s)
1Bathroom(s)
22.32Acre
1,099Sqft
10 minutes to Bridger Bowl 35-40 minutes to Bozeman and less than an hour to Livingston via Clyde Park this 22.32 acre property would be ideal for an artist, writer or client looking to live in the mountains. Home is unique and well thought out for individual or couple. Natural light and great trails allow for skiing and mountain biking throughout the property.
$620,000

4825 Glenwood Drive 3, Bozeman, Montana 59718

4825 Glenwood Drive 3, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,228Sqft
Quality built Ebbighausen condo with great views on the edge of town. Welcome to Laurel Glen on the west edge of Bozeman. The Gallatin Valley opens up to the west of this great Cinnamon Creek condo with a seasonal stream out back and beautiful Bridger Mountain views to the east. This upper level unit is one level living...elevated.
$395,000

228 S Cottonwood Road 108, Bozeman, Montana 59718

228 S Cottonwood Road 108, Bozeman, Montana 59718

2Bedroom(s)
1Bathroom(s)
925Sqft
Wonderful ground level condo with an open floor plan. The spacious condo offers 2 bedrooms and 1.5 baths. Large laundry room with additional storage. Back patio faces East allowing you to take in the Montana Sunrise while enjoying a book or your coffee. The unit has an assigned carport.
$300,000

3695 Tschache Lane, Bozeman, Montana 59718

3695 Tschache Lane, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
0.34Acre
2,851Sqft
Situated on a 14,000+ sq ft corner lot is a fully custom masterpiece that captures the beautiful Bridger Mountain range. Situated across the street from the Gallatin regional park this 2,851 sq ft home offers, 4 bedrooms, 3 full bathrooms, and boasts an open layout with vaulted ceilings. The main level master suite overlooks the massive backyard and has direct access to the back patio.
$1,200,000

56 Big Chief Trail, Bozeman, Montana 59718

56 Big Chief Trail, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
2.22Acre
1,902Sqft
Fantastic, 4B|3B + office home in a fantastic neighborhood on 2.21 acres! Completely remodeled, all new everything! From flooring to windows, to kitchen and bathrooms, to deck and roof, lawn and landscaping. Fabulous open floor plan with wraparound decking and double sided fireplace.
$959,000

262 Explorer Trail, Bozeman, Montana 59718

262 Explorer Trail, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.55Acre
2,745Sqft
Welcome to Valley Grove in Bozeman! Main level living with an attached, fully functioning mother-in-law suite that sits above the oversized 2 car garage. A master suite, two large bedrooms, living room and an extra large family room is on the 1st floor. With over a half acre lot, the front and back yards offer plenty of space for privacy and activities.
$675,000

15 W Arnold Street, Bozeman, Montana 59715

15 W Arnold Street, Bozeman, Montana 59715

4Bedroom(s)
2Bathroom(s)
0.30Acre
3,021Sqft
Opportunity to be a apart of one of the best and most sought out neighborhoods in South Bozeman. 15 W. Arnold offers an amazing property on an incredible private cul-de-sac lot with tremendous upside as Bozeman continues to grow. Carpet, paint and a few other small updates will bring this home present and ready for you and your family.
$749,000

209 S 8th Avenue, Bozeman, Montana 59715

209 S 8th Avenue, Bozeman, Montana 59715

2Bedroom(s)
1Bathroom(s)
0.25Acre
1,308Sqft
OPPORTUNITY! This lot is zoned R2 and is located close to main street, Community Food Co-op, Cooper park and Montana State University! This 2 bed, 1 bath home has a large detached garage on a HUGE 10,724 sq ft lot. The attic space is unfinished, and has potential to be another bedroom or office. New siding and shingles in 2017. Buyer to confirm possible uses with City of Bozeman.
$749,900
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Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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