March 25th, 2021

Belgrade Home Sales Report

Belgrade Home Sales Report

Belgrade, MT Home Sales Report, March 2021 – Search Belgrade Real Estate

Market Trends, Forecast Updates – Bozeman vs Belgrade Home Prices

Houses Cost $387,000 in Belgrade, MT

MEDIAN HOME SALES PRICEBELGRADEBOZEMAN
MARCH 2021$387,000$599,000
DECEMBER 2020$378,700$585,000
SEPT 2020$369,450$542,000
JUNE 2020$350,000$515,000
March 2020$345,000$496,750

Chart 1: In March 2021, median sales price for Belgrade homes is $387,000, up $10,000 or 2.6 % above January 2021’s $375,000.

Bozeman vs Belgrade Median Home Sales Price History
Chart 1: Median Sales Prices, Single Family Homes Bozeman vs Belgrade.

This $387,000, is 55% (or $212,000) lower than the median sales price of $599,000 Bozeman homes in March 2021.

In like manner, the Belgrade residential sales market (single-family, condos, and townhomes) continues moving upward with median sales price at $352,000 for homes, condos, and townhouses in March 2021, up 2.6% or $9,100 above January’s $342,900.

Confused about median vs. average?

Since 2014, Belgrade median home sales prices (chart 1) have increased 20% ($76,500 increase) and the availability of residential Belgrade properties (chart 2)–homes, condos, and townhomes–has dropped to its lowest in years.

History Belgrade Homes For Sale
Chart 2: History, Number Belgrade Montana Homes, Condos, Townhouses For Sale

Today, in March 2021, there are only 41 residential dwellings for sale in Belgrade, MT; about 31 of those 40 residential properties are homes for sale.

Belgrade Median Number Homes For Sale

Chart 2: The number of Belgrade homes for sale, more or less, dropped for the 3-year period, 2015 to 2018, and began rising in Q1 2018 and has continued to rise into March 2021.

Part of the rise in the number of Belgrade homes for sale is due to robust new home construction in the Belgrade, Montana area.

Belgrade Real Estate Number of Closed Sales

Belgrade Real Estate Number of Closed Sales
Chart 3: Belgrade Real Estate Number of Closed Sales

Chart 3: For years, the yearly number of closed sales for all residential dwelling types has been slightly rising and continues into March 2021.

The month of February 2021 itself had the lowest closed sales number for a single month since January 2019.

Belgrade Median Residential Sales Price By Property Type

Chart 4: The overall Belgrade, MT residential real estate median price continues upward into March 2021, primarily due to single-family home price increases.

Belgrade Median Sales Price by Property Type
Chart 4: Belgrade Median Sales Price by Property Type

In “All Property Types,” both townhouse and manufactured home median sales prices have been battling for upper-hand since before 2014, with manufactured homes in the lead in 2021.

Belgrade condo prices have leveled off since September 2019.

In Belgrade, median sales prices for all property types have been rising since before 2014.

Belgrade Median Home Sale Prices By Year Built

Belgrade Montana Median Sales Price History by Year
Chart 5: Belgrade Real Estate: Median Sales Price History by Year

Chart 5: Belgrade’s rising median sales price trend continues upward in 2021 but is 24% (~$112,000) lower than Bozeman’s upward trend.

Both trends have continued upward and parallel for years (note the roughly parallel trend lines).

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

In 2021, both Belgrade and Bozeman residential sales prices continue to rise, and both SW Montana real estate markets continue their vibrancy in a continued Covid-19 world.


BOZEMAN REAL ESTATE REPORTS

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