March 1st, 2022

2022 Belgrade Home Sales Report

Photo Bozeman vs Belgrade Home Sales 20120-2022

Belgrade, Montana Home Sales Report – Search Belgrade Real Estate

Belgrade, MT Homes Cost $698,135 in March 2022 (average)

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

Home Price (aver)BelgradeBozeman
FEB 2022$698,135$989,095
NOV 2021$658,630$953,825
AUG 2021$601,420$873,325
MAY 2021$496,160$800,955
FEB 2021$456,400$746,955
Photo Belgrade vs Bozeman Average Home Sales Price History
Chart 1: Average sales prices, single family homes Bozeman vs Belgrade.

Belgrade Average Price For Homes

Chart 1: March 2022, average sales price for Belgrade homes is $698,135, up ⇑ $241,735 or 53% above March 2021’s $439,500.

Good News: this $698,135 is ⇓ $290,960 or ⇓ 41.7% lower than the median sales price of $989,095 for a Bozeman home in March 2022.

Belgrade’s March 2022 overall residential market (single-family, condos, and townhomes) continues moving upward with average sales prices at $606,270, up ⇑ 49.5% or ⇑ $200,535 above March 2021’s $405,735.

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 February 2017, Belgrade home prices (chart 1) have increased ⇑ $390,960 or ⇑ 127.3%. As a matter of fact, prices for homes continue rising throughout Gallatin County.

And the availability of residential Belgrade properties (chart 2)–homes, condos, and townhomes–has increased slightly but remains historically low.

Belgrade Number Residential Dwellings For Sale

Chart 2: Today, in March 2022, there are 32 residential (homes, condos, townhouses) dwellings for sale in Belgrade, MT; 27 of these 31 residential properties are homes for sale in Belgrade.

The 28 Belgrade homes for sale in Q1 2022 has increased since February 2021’s 35 and February 2020’s 84.

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 each year.

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 then, closed sales have dropped from a high of 446 to today’s 368.

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

Belgrade Residential Median Sales Price By Property Type (average vs median?)

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 (average) 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 home prices surpassing the $500,000 mark in late May 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’s pending sales numbers have remained fairly flat, whereas Bozeman’s rose until April 2021 and have been declining ever since.

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

In 2022, both Belgrade and Bozeman residential sales prices continue to rise.

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

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Taunya Fagan

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