Bozeman, MT - Bozeman Housing Market Update

How Do You Know If You're Ready To Buy a Home?

The Wild Wild West housing market had many people in panic mode — worrying that if they don't act now, they may never be able to buy a house amid record-high housing prices and increasing interest rates. With the ever-changing market conditions of today, hopeful homebuyers may be in a better position to act. It’s very important to remember that no matter what the market is doing, buying a home is something you shouldn't rush into. 

A mortgage is one of the biggest — and most important — responsibilities you’ll have in your life. Entering into home ownership before you are ready could have negative impacts on your financial health. In this post, we will take you through some steps to help you decide whether or not you are actually ready to…

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Expert Forecast: Predictions for the Rest of the 2022 Real Estate Market

Expert Forecast: Predictions for the Rest of the 2022 Real Estate Market

Rarely have rising interest rates been seen as a good thing in real estate circles. But in the current seller's market, higher mortgage financing rates are viewed as a potential solution to runaway price appreciation in many markets across the country. However, few experts believe that rate increases will substantially reduce the current demand, nor can higher rates be expected to affect sales numbers to any great extent, at least for the second half of this year. 

Higher prices and an increasingly short supply of homes have caused some buyers to be effectively priced out of the market. The existing increase in rental prices only serves to accentuate the problem.…

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Inflation, War, Rising Interest Rates | January 2021 Bozeman Real Estate Update

What Does This Mean for Single Family Homes Buyers?

Prices have skyrocketed in city limits.  Many home buyers are experiencing appreciation at a fast rate.  The number of homes going under contract has greatly gone up and the lack of new listings hitting the market are stoking bidding wars.  The list price to sales price has actually slightly decreased, but some of this may have to do with the age of homes that were purchased during this time period, or people got a little lucky with a slightly slower Christmas market. Christmas was still great so do not think it was a slow time, investors tend to get anxious when their homes sit on the market for a week or two.

•   Average Sales Price for Single Family Homes have gone up a whopping 43.9% with the…

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Real Estate Market Update | Bozeman City Limits December 2021

Statistics from Big Sky Country MLS for December 2021 have been released! So let's compare it to November 2020 

• Average Sales Price for Single Family Homes has gone up 18%, vs the whopping 43% increase for Condo/Townhomes in Bozeman from December 2020 to December 2021. 
• Closed Sales were down by 2.5% for Single Family Homes similar to Condo/Townhomes have decreased by 2.6% in the last year. 
• Inventory of Single Family Homes for Sale has seen a decrease of 33% vs the Inventory for Condo/Townhomes for sale has decreased by 59%. with a total of 9. 
• The Percent of List Price Received for Single Family Homes has decreased slightly by 1% which is similar to Condo/Townhomes that have increased by .1%.

Source: Big Sky Country MLS

If…

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Real Estate Market Update | Bozeman City Limits November 2021

Statistics from Big Sky Country MLS for November 2021 have been released! So let's compare it to November 2020 

• Average Sales Price for Single Family Homes has gone up 6%, vs Condo/Townhomes in Bozeman which have increased to 20% from October 2020 to October 2021. 
• Closed Sales have had no change for Single Family Homes whereas Condo/Townhomes have increased by 20% in the last year. 
• Inventory of Single Family Homes for Sale has seen an increase of 11% totally to 29 vs the Inventory for Condo/Townhomes for sale has decreased by 40%. with a total of 16. 
• The Percent of List Price Received for Single Family Homes has increased by 99% which is similar to Condo/Townhomes that have increased by 100%.

Source: Big Sky Country MLS

If you…

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Real Estate Market Update | Bozeman City Limits October 2021

Statistics from Big Sky Country MLS for October 2021 have been released! So let's compare it to October 2020 

• Average Sales Price for Single Family Homes has gone up 30%, vs Condo/Townhomes in Bozeman which have increased to 43% from October 2020 to October 2021. 
• Closed Sales have begun to decrease for Single Family Homes by 28%, whereas Condo/Townhomes have also decreased by 37.5% in the last year - similar to last month. 
• Inventory of Single Family Homes for Sale has seen a decrease of -4.9 with a total of 39%, vs the Inventory for Condo/Townhomes for sale has also decreased by -24.2%. with a total of 25. 
• The Percent of List Price Received for Single Family Homes has increased by 101.1% which is similar to Condo/Townhomes that have…

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Real Estate Market Update | Bozeman City Limits September 2021

Statistics from Big Sky Country MLS for September 2021 have been released! So let's compare it to September 2020 -

• Average Sales Price for Single Family Homes has gone up 33%, vs Condo/Townhomes in Bozeman which have increased to 73% from September 2020 to September 2021. 
• Closed Sales have begun to decrease for Single Family Homes by 28%, whereas Condo/Townhomes have also decreased by 19% in the last year. 
• Inventory of Single Family Homes for Sale has seen an increase of 26%, vs the Inventory for Condo/Townhomes for sale has also increased to 10%. 
• The Percent of List Price Received for Single Family Homes has increased by 26% which is similar to Condo/Townhomes that have increased by 28%.

Source: Big Sky Country MLS

If you…

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Real Estate Market Update | Bozeman City Limits August 2021

Statistics from Big Sky Country MLS for August 2021 have been released! So let's compare it to August 2020 -

• Average Sales Price for Single Family Homes has gone up 30%, similarly to Condo/Townhomes in Bozeman which have increased to 46% from August 2020 to August 2021. 
• Closed Sales have begun to decrease for Single Family Homes by 17%, whereas Condo/Townhomes have been up by 8% in the last year. 
• Inventory of Single Family Homes for Sale has seen an increase of 9%, vs the Inventory for Condo/Townhomes for sale has decreased to almost 50%. 
• The Percent of List Price Received for Single Family Homes has increased by 1% which is exactly the same as Condo/Townhomes that have increased by 1% as well. 

Source: Big Sky Country MLS

If…

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What's Happening in the Bozeman Market - Fall 2021

Is The Market Slowing Down?

Home Buyers: If you are looking to purchase a home in the $350k-$600k price range, we have noticed less competition in the Bozeman market! (And that’s saying a lot!) 

The past year has been absolutely crazy for the local market. The pandemic resulted in a huge influx of people of all ages moving out of cities, making Bozeman a hot spot! As summer approached the Bozeman real estate market was still surging - driving up the prices. 

We're starting to see characteristics of parts years markets prior to 2020-2021. It is normal to see a drop in the market when kids start school. It normally picks up mid to late September, this is the time to take advantage of fewer buyers in the market before inventory starts to shrink! We…

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Real Estate Market Update | Bozeman City Limits July 2021

Statistics from Big Sky Country MLS for July 2021 have been released! So let's compare it to July 2020.

• Average Sales Price for Single Family homes has gone up 51%, similarly to Condo/Townhomes in Bozeman which have increased to 5% from July 2020 to July 2021. 
• Closed Sales have begun to decrease for Single Family Homes by 42%, where Condo/Townhomes have only decreased by 9% in the last year. 
• Inventory of Single Family Homes for Sale has seen a decrease of 30%, vs the Inventory for Condo/Townhomes for sale has decreased to 67%. 
• The Percent of List Price Received for Single Family Homes has increased by 1.5% which is similar to Condo/Townhomes that have increased by 3.1%

Source: Big Sky Country MLS

If you are curious what this…

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