Bozeman Home Price Trends Update, Week 3, August 2014:
Bozeman Home Prices This week:
In the Bozeman region of Southwest Montana, the Bozeman real estate market continues to heat up.
More sales demand and fewer Bozeman, Montana homes being listed have contributed to a relatively long run of increasing Bozeman home prices.
Current supply and demand levels show no sign of prices changing from their current upward trend.
Prices for Bozeman homes for sale hit another all time high this week. Given current conditions, prices continue to march higher. A persistent drop of the Market Action Index into the Buyer’s zone will be a leading indicator of the price strength subsiding.
PREVIOUS YEAR’S BOZEMAN HOME SALES HISTORY 2008 – 2013
Late 2013: Bozeman Montana Homes’ Supply and Demand: The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
In 2012, Bozeman home sales were booming, with the highest home prices in the Montana. The region was once again attracting investors, and those with a few extra dollars to spend on Bozeman Montana real estate from Montana’s oil business.
The artsy counter-culture community of Bozeman was a draw to many out of state people searching for a second home. Bozeman home values were forecast to inflate the most for any area of the state, averaging a 2.9% increase by years end.
In 2011, Housing Predictor’s Montana rankings have four cities’ home values trending upward: Great Falls at a 2.9% increase, followed by Missoula, poised to rise 2.4%, Bozeman home values to rise 2.0% , and Billings at 1.6% increase in home prices.
Pertaining to Montana real estate prices for 2010, this housing forecaster had Montana real estate prices dropping from 2.5% to 3.6% across the four, aforementioned Montana cities.
Based on US housing data received during 2009, Housing Predictor published a top 25 US Housing Market ranking. Five Montana cities placed in the top 25 for 2009: Bozeman 14th, Billings 18th, Livingston 20th, Great Falls 22nd, and Missoula 25th.
In 2008, Housing Predictor Montana Rankings had five Montana cities in the top 25 and two within the top 10 (you may recall that in January 2009, Billings ranked 3rd and Bozeman ranked 9th, placing both cities in the top 10 for US home values appreciation in 2009).