What to Expect in Bozeman Real Estate in 2021

by Liz Nitz

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 in Bozeman real estate in 2021.

 

If you’re a seller:

  • Buyers are still picky and they are not buying just to buy. Consider updates and professional staging if your home is dated and looking like the 1990s.
  • Buyers are looking for homes that fit their lives in the new normal. Think: plenty of outdoor space; dedicated rooms for remote work/home schooling/exercise; and a well-appointed kitchen with plenty of storage space.

 

If you’re a buyer:

  • Bidding wars are a real thing right now, so think carefully about the price you want to pay.
  • Be prepared to make concessions on items like inspections, earnest money and closing dates, as well as letting the seller rent back for a while if they need to look for a new home.

 

If you’re looking for affordability: Consider surrounding towns like BelgradeThree Forks and Livingston.

  • Belgrade: Located 11 miles from Bozeman; The median sales price increased from *$319,900 in 2019 to $341,400 in 2020.
  • Three Forks: Located 29 miles from Bozeman; The median sales price increased from *$282,500 in 2019 to $311,250 in 2020.
  • Livingston: Located 26 miles from Bozeman; The median sales price increased from *$284,000 in 2019 to $300,000 in 2020.

(*Source: Big Sky Country MLS 2020 Annual Report)

 

This previous post talks about what happened to Bozeman real estate in 2020. Keep in mind that whatever you might be hearing or reading on social media, real estate agents did not create the current housing situation in Bozeman. The low interest rates mixed with the resulting demand for homes in places like Bozeman during the pandemic and the hesitancy of homeowners to put homes on the market with all the uncertainty were factors that were completely out of any agent’s purview.

If you’re interested in learning more about real estate in Bozeman and surrounding areas in Montana, feel free to contact me at liz@windermere.com.

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New Real Estate Trends in Bozeman

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

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4633 Shadowglen, Bozeman, Montana 59718

4633 Shadowglen, Bozeman, Montana 59718

4Bedroom(s)
3Bathroom(s)
0.17Acre
2,617Sqft
Four bedroom single family home on Bozeman's growing west side. Two stories with a main floor master bedroom. Generous amount of counterspace and storage in the kitchen, gas fireplace in the living room and formal dining room. Upstairs features two bedrooms, bathroom and loft/flex space currently used as an office.
$769,900

203 Wickwire Way, Bozeman, Montana 59718

203 Wickwire Way, Bozeman, Montana 59718

3Bedroom(s)
2Bathroom(s)
0.20Acre
2,067Sqft
Beautiful new construction available for immediate occupancy in Black Bull, just in time for golf season. Located steps from the club's amenities, 203 Wickwire Way provides easy single level living in one of Bozeman's most sought after communities. With 3 bedrooms, 2.
$1,499,000

2489 Andalusian Avenue, Bozeman, Montana 59718

2489 Andalusian Avenue, Bozeman, Montana 59718

4Bedroom(s)
2Bathroom(s)
0.28Acre
2,770Sqft
Welcome to 2489 Andalusian Ave in the highly sought after Baxter Meadows West Subdivision! This custom home is one of last crafted by renown Bozeman Developer Ed Adamson & Bozeman Building Traditions. This unique green and energy efficient home features two types of solar panels, complete with high efficiency Smart Triangle Tube Boiler System and radiant floor heating.
$1,399,900

29 Hoffman Drive, Bozeman, Montana 59715

29 Hoffman Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.07Acre
2,568Sqft
Spacious 4 bedroom, 3 bathroom Woodbrook townhome by renowned builder Ken Leclair in an unbeatable location near MSU, Downtown, and Bozeman Health. Enjoy the park-like setting backing to beautiful mature trees and babbling brook from the expansive newly built Trex deck. Main floor open living with vaulted ceilings and massive windows providing tons of natural light.
$749,900

340 Stonegate Drive, Bozeman, Montana 59715

340 Stonegate Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.96Acre
3,093Sqft
Brand new to market! Welcome to serene Stonegate subdivision tucked into Bozeman's Riverside Golf Course with spacious 1+/- acre lots & stunning mountain views. Abundant windows & natural light envelop elegant 3093 sq ft home with 4 beds & 3 1/2 baths. Main level master en suite boasts a ginormous walk-in closet/dressing room.
$1,500,000

3109 Augusta Drive, Bozeman, Montana 59715

3109 Augusta Drive, Bozeman, Montana 59715

4Bedroom(s)
3Bathroom(s)
0.29Acre
3,005Sqft
Beautiful home on the 14th fairway of the Bridger Creek Golf Course. "Big" unobstructed views of the Bridger Mountain Range. This home features 2 master suites, one with a walk-in closet big enough to make into another bedroom! Great room concept with corner river rock gas fireplace, large kitchen featuring cherry cabinetry, granite counters, butcher block island and a nice gas range.
$1,050,000

1418 Cherry Drive, Bozeman, Montana 59715

1418 Cherry Drive, Bozeman, Montana 59715

3Bedroom(s)
2Bathroom(s)
0.21Acre
2,523Sqft
This well maintained ranch style home backing to the Hyalite View Park is ideally located within close proximity to downtown Bozeman, Bozeman Deaconess Hospital, and Montana State University. The trail system runs right past the back door for hiking and biking opportunities as well. The two levels of this home afford separate bedroom/living areas for guests or roommates .
$825,000

280 Eagle Creek, Bozeman, Montana 59718

280 Eagle Creek, Bozeman, Montana 59718

3Bedroom(s)
1Bathroom(s)
2,182Sqft
This spacious 2-level Cottonwood Condo is ideally situated in the ever-growing West-End of Bozeman. Within walking distance to restaurants, coffee shops, trails, and workout facilities. Natural light floods the main level with an open concept floorplan with warm, oak flooring throughout the ENTIRE condo (helpful for those with allergies).
$720,000

315 N Tracy Avenue 508, Bozeman, Montana 59715

315 N Tracy Avenue 508, Bozeman, Montana 59715

2Bedroom(s)
1,418Sqft
The Henry is a proposed 6-story, luxury residential for sale development in the heart of downtown Bozeman, Montana. Totaling 44 condominiums, the project is 3 blocks from Main Street at the southwest corner of Tracy Avenue and Villard Street. The Henry is positioned to be the most sought-after residential property in Bozeman, given its location, amenities, design and views.
$1,554,000
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