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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1995 Buckrake Avenue, Bozeman, Montana 59718

1995 Buckrake Avenue, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.12Acre
1,757Sqft
This townhouse is a rare find, with a fully fenced back and side yard, large wraparound deck, and bordering park space on two sides. Surprisingly good Bridger mountain views from the deck, living room and master suite. Main living areas are on the first floor, with all bedrooms and laundry area on the second floor.
$460,000

476 Enterprise Boulevard 220, Bozeman, Montana 59718

476 Enterprise Boulevard 220, Bozeman, Montana 59718

1Bedroom(s)
1Bathroom(s)
648Sqft
Exceptional contemporary one bedroom condo on the beautiful south side of Bozeman, close to the University. Featuring hardwood floors, quartz countertop, built in bluetooth bathroom mirror, and a covered balcony.
$269,900

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$349,000

5756 Westmorland Drive, Bozeman, Montana 59718

5756 Westmorland Drive, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.10Acre
1,986Sqft
Oh yes, the Lakes of Valley West; a highly sought after community located in Bozeman, MT! This lovely home features 4BR/2.BA & will knock your socks off with its contemporary look and feel w/ large southern exposure windows, located at the end of a cul-de-sac and adjoins the community walking trail.
$599,900

71 Ridge Line Lane, Bozeman, Montana 59718

71 Ridge Line Lane, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.20Acre
3,286Sqft
Here is your opportunity to own a beautiful home in North Star Subdivision. As you enter the home you will notice the main level provides a functional open-concept floor plan throughout the living, dining, and kitchen area. This home is accented with wood trim, vaulted ceilings, a beautiful gas fireplace, stainless steel appliances, built-in speakers, and the kitchen features granite countertops.
$595,000

244 Creekside Drive, Bozeman, Montana 59718

244 Creekside Drive, Bozeman, Montana 59718

4Bedroom(s)
4Bathroom(s)
3,800Sqft
First time on the market! Custom-built, 2014 mountain modern home in Wylie Creek. Enjoy great amenities (tennis court, pond, walking trails) just minutes from downtown Bozeman, the airport, and the Gallatin’s blue-ribbon trout. Four large bedrooms plus office, spa-like master bath, huge kitchen, pantry, walk-in closets, copious storage, and fiber optic Internet for work/school from home.
$1,095,000

30 Naomi Rose Lane, Bozeman, Montana 59718

30 Naomi Rose Lane, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
1,796Sqft
Embrace an easy and affordable lifestyle in this immaculate two-level condo. Beautifully appointed this three-bedroom, two and a half bath condo has an open functional floor plan with lots of natural light. The interior is done in a stunning palette of neutral tones providing the perfect back drop for any decor.
$419,900

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$360,000

1297 Thomas Drive, Bozeman, Montana 59718

1297 Thomas Drive, Bozeman, Montana 59718

2Bedroom(s)
2Bathroom(s)
1,075Sqft
Newly constructed condominiums offering a combination of 1 BD/1.5 BA units along with 2BD/2BA units and 2BD/2.5BA properties. GE appliance package with including electric range, dishwasher, disposal, microwave, exhaust hood, washer/dryer, refrigerator. Quartz countertops, natural gas forced air and AC. Walk-in closets with storage, some condos have decks with additional storage.
$360,000
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Windermere Downtown Bozeman

135 E Main St.

Bozeman, MT 59715

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