According to the National Association of Realtors, 89% percent of Millennials, 87% of Gen Xers, and 85% of Younger Boomers purchased their home through a real estate agent.
Chart 1: Belgrade homes: median sales price history 2014 to present.
Belgrade Montanais approximately 11 miles from Bozeman, MT, where median home prices are substantially higher, making Belgrade a great, and less expensive, place to call home.
This proximity to Bozeman and more affordable housing choices makes Belgrade an attractive alternative to Bozeman.
Plus, Belgrade is only ~11 miles from Bozeman, making it a great place to live and quickly commute to Bozeman, and other southwest Montana cities.
As has been happening in the Bozeman, Montana region, Belgrade real estate has seen steady price increases in the past 5 years.
Chart 1: Median sales prices in Belgrade have risen from $192,500 in January 2014 to $255,000 in January 2017, to $375,000 in January 2021: a 32% increase in 7 years.
Bozeman’s median sales price has increased 49% during that same 7-year period!
Chart 2: Median sales price history Belgrade versus Bozeman.
Is real estate in Belgrade, Montana more affordable than in Bozeman, Montana?
Chart 2: Though the median sales price trendbetween Belgrade and Bozeman has been rising and running parallel for years, the gap has been widening during those years between the two cities.
The difference between sales prices of the two cities was $106,000 in January 2014, moving up to $120,000 in January 2017, and continuing upward to January 2021’s ~$210,000.
Today, Belgrade’s median sales price is more than $200,000 lower than Bozeman’s!
Consequently, this makes Belgrade the more affordable town for families searching for a single-family home. Bozeman’s single-family “median sales prices” continue to rise at a faster rate than Belgrade’s.
