April 17th, 2020

Belgrade Home Sales Report

Belgrade Home Sales Report

Belgrade Home Sales Report 2020 – Belgrade Real Estate For Sale – Market Trends and Forecast Updates

Belgrade Montana Homes Median Sales Price History by Year
Chart 1: Belgrade Homes: Median Sales Price History by Year

Belgrade Median Home Sales Price History (Chart 1)

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

Since 2014, Belgrade median home sales prices for homes 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 Home Listings (Chart 2)

History Belgrade Home Listings
Chart 2: History, Number Belgrade Montana Homes 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 Home Sales Report By Property Type (Chart 3)

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

Belgrade Median Home Sales Price by Property Type
Chart 3: Belgrade Median Sales Price by Property Type

In “All Property Types,” both t<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 vs Bozeman (Chart 4)

Bozeman vs Belgrade Median Home Sales Price History
Chart 4: Median Home Sales Prices Bozeman vs Belgrade

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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Taunya Fagan

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