Belgrade Home Sales Report: 2023 Price Trends, Market Forecast

Belgrade, Montana Home Sales Report – Search all Belgrade Real Estate

Chart 1: At the end of Q1 2025, median sales price for Belgrade homes was $647,125, up ⇑ $30,375 or ⇑ 4.7% from Q4 2024’s $616,750.

This $647,125 is a record high for any quarter in Belgrade real estate history.

And, $647,125 is $279,875 less than or 30.2% lower than the median sales price of $927,000 for a Bozeman home in Q1 2025.

Belgrade’s Q3 2024 overall residential inventory has been climbing all of 2024.

Median sales price is at $554,900, up ⇑ .9% or ⇑ $4,900 above Q3 2023’s $550,000 so not much change in 2024.

From Q1 2018 to Q1 2022, Belgrade residential prices increased from $279,900 to $560,000 ⇑ $280,100 or ⇑ 50%.

Ever since Q1 2022, prices have remained between $550,000 and $650,000 in Belgrade.

The availability of residential Belgrade properties (Chart 2)–homes, condos, and townhomes–is increasing in both Belgrade and Bozeman.

Back In Time

Chart 2: In Q1 202, the price for all residential (homes, condos, townhouses) dwellings for sale in Belgrade, MT is $579,000.

The number of dwellings for sale is high at 157, with 114 of these properties homes for sale.

The decade’s low of 31 in Q1 2022 was well below the high of 205 in Q3 2019.

Chart 3: For years, the number of closed sales for all residential dwelling types was on the rise.

But after Q3 2020, the closed sales trend has been down.

Since Covid hit the region, approximately–March 2020–the yearly sale of homes in Belgrade climbed but has been dropping since then.

Since Q3, 2020, closed home sales have dropped from a high of 146 to Q1 2023’s 33.

Sales of condos, townhomes, and manufactured homes are slightly declining.

Chart 4: Belgrade, MT overall residential closed sales have been decreasing.

This drop is due in part to an increase in Days on Market.

Belgrade and Bozeman condo and townhouse prices have kicked up significantly since March 2021.