Six years ago, the average price of a home in Bozeman was $260,429. Fast forward to May 2018 where the average sale price of a home in Bozeman is $446,865, a 71.5% increase in Bozeman home prices in the last six years. Great news if you are an existing homeowner, not so great news if you are trying to purchase a home in Bozeman.
Home prices in Belgrade and Livingston have seen similar growth. The average sale price of a home in Belgrade is $298,914, 84% higher than it was six years ago. The average sale price of a home in Livingston is $314,142, 54% higher than six years ago.
While there are still several homes for sale in Bozeman under $250,000, the average cost of a condo is $292,951, the average cost of a townhome is $342,492 and the average cost of a single family is $524,409. Click here to see the current lowest and highest priced homes on the market.
While the demand for homes in Bozeman has seen a dramatic increase in the last several years, the number of homes hitting the market has decreased 50% in the last six years ago, to just 255. Not only do people want to move to Bozeman, the ones who are here don’t want to leave! The low inventory has made the market very competitive, dropping the number of days a home spends on the market from a median of 55 to just 25 days.
Want more market stats? Click here to visit our live Bozeman Real Estate Market Report page.
*This information is gathered using InfoSparks with information provided by Big Sky Country MLS. Data is gathered at the beginning of each month for the previous month.