August 11th, 2022

Belgrade Home Sales Report

Photo Bozeman vs Belgrade Home Sales 2020-2022

Belgrade, Montana Home Sales Report – Search Belgrade Real Estate

Homes Cost $575,000 in Belgrade, Montana in August 2022 (median)

Market Trends, Forecast Updates – Belgrade Home Prices vs Bozeman Home Prices

Home Price (aver)BelgradeBozeman
AUG 2022$575,000$821,750
MAY 2021$570,000$806,000
FEB 2022$553,000$780,000
NOV 2021$525,000$740,000
AUG 2021$487,750$699,000
Photo Belgrade vs Bozeman Median Home Sales Price History
Chart 1: Median sales prices, single family homes Bozeman vs Belgrade.

Belgrade Home Prices (median)

Chart 1: August 2022, median sales price for Belgrade homes is $$575,000, up ⇑ $82,250 or 16.8% above August 2021’s $487,750.

Good News: this $575,000 is ⇓ $246,750 or ⇓ 42.9% lower than the median sales price of $821,750 for a Bozeman home in August 2022.

Belgrade’s August 2022 overall residential market (single-family, condos, and townhomes) continues moving upward with median sales prices at $636,510, up ⇑ 21.1% or ⇑ $110,860 above August 2021’s $525,650.

Photo History Belgrade Homes For Sale
Chart 2: History, number Belgrade homes, condos, townhouses (plus 3 together) for sale.

In the last five years, since August 2018, Belgrade home prices (chart 1) have increased ⇑ $319,710 or ⇑ 101%.

Prices for Belgrade, MT homes have dropped ⇓$30,390 since June 2022.

The availability of residential Belgrade properties (chart 2)–homes, condos, and townhomes–has increased in both Belgrade and Bozeman but remains historically low.

Belgrade Number Residential Dwellings For Sale

Chart 2: Today, in August 2022, there are 39 residential (homes, condos, townhouses) dwellings for sale in Belgrade, MT; 31 of these 39 residential properties are homes for sale in Belgrade.

The 39 Belgrade homes for sale in Q3 2022 has increased since August 2021’s 28 but remains well below August 2020’s 69.

Belgrade Number of Closed Sales

Photo Belgrade Real Estate Number of Closed Sales
Chart 3: Belgrade number of closed sales.

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

But since October 2020, closed sales have been declining, most likely due to more people staying than leaving Belgrade.

Since Covid began, approximately, March 2020, the yearly sale of homes in Belgrade climbed until October 2020 but has continued dropping since then.

Since March 2020, closed sales have dropped from a high of 540 to today’s 456.

Sales of condos and townhomes are flat ⇒ so far in 2022.

Belgrade Residential Sales Price By Property Type 

Photo Belgrade Median Sales Price by Property Type
Chart 4: Belgrade median sales price by property type.

Chart 4: The Belgrade, MT overall residential real estate price (median) continues upward,

This climb is due both to a demand for single-family homes and a housing shortage across the Gallatin Valley.

In “All Property Types,” prices for every property type has been rising for years, with Belgrade single-family median home prices surpassing the $500,000 mark in late September 2021.

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

Belgrade Residential Pending Sale Numbers By Type

Photo Belgrade Residential Pending Sales Numbers By Type
Chart 5: Belgrade pending sales numbers by type

Chart 5: Belgrade and Bozeman’s pending sales numbers have turned down.

Overall, median home sales prices for Belgrade and Bozeman have been rising for many years. 

In Q3 2022, both Belgrade and Bozeman residential sales prices have flattened.

And both SW Montana real estate markets continue their vibrancy in a rebounding Covid world.

What the difference between average and median?

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Taunya Fagan

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