Bozeman Home Prices and Trends, Late February 2015
Bozeman Home Prices Update, Week 4, February 2015:
The Bozeman real estate market has been cooling over time and prices are close to a stasis. Despite the consistent decrease in Market Action Index (MAI), we remain in the Seller’s zone.
Watch for changes in MAI. If the MAI resumes its climb, prices will likely follow suit. If the MAI drops consistently or falls into the Buyer’s zone, watch for downward pressure on prices.
Median for Bozeman home prices, week 4 February 2015 remains at $214,900. Sales of Bozeman houses, town homes, and condos have declined recently, even though the regional SW Montana real estate market is still warm.
Given current conditions, 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 – 2014
Though inventory in late 2014 was lower than earlier in 2014, continued sales demand and fewer Bozeman, Montana homes listed for sale contributed to a relatively long run of price increases until late Summer 2014; since then prices have begun to stabilize.
The inventory of Bozeman homes declined into October 2014, and current supply and demand levels show signs of price stabilization for Bozeman luxury homes, residential dwellings, condos, and townhouses.
Prices for Bozeman homes for sale hit another all time high in August. 2014.
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).
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