August 7th, 2020

Belgrade Home Sales Report

Belgrade Home Sales Report

Belgrade Home Sales Report 2020 – Belgrade Real Estate For Sale

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

Bozeman vs Belgrade Median Home Sales Price History (chart 1)

Thankfully, SW Montana has been spared heavy Coronavirus casualties. The Belgrade real estate market continues to move upward.

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

Since 2014, Belgrade median home sales prices (chart 1) have increased approximately 57% and the availability of Belgrade homes for sale has rebounded to 2014 numbers (chart 2).

Homes built prior to 1999 had the greatest median sales price increases in 2019 and continue to track upward in 2020.

Belgrade Median Number Homes For Sale (chart 2)

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

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 2020.

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 (chart 3)

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

Beginning July 2019, the number of closed sales (468) for all residential dwelling types, except condominiums, began rising and continued through July 2020, with a total of 568 closed sales, which is an 18% increase over the last 12 months.

Belgrade Median Home Sales Price By Property Type (chart 4)

All Belgrade, MT residential real estate median prices continues to inch upward into 2020 primarily due to single-family home sales.

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 2020.

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 (chart 4)

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

Though rising, Belgrade’s median sales price trend has remained from $100,000 to $150,000 below Bozeman’s upward trend, year after year (note the roughly parallel trend lines).

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

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


REAL ESTATE REPORTS

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