Belgrade, MT Real Estate Listings Q2 2023
Home in Belgrade? – Sales Report – Belgrade History – Belgrade, MT Schools
Belgrade Montana is approximately 11 miles from Bozeman, MT, where prices are substantially higher.
Because Belgrade is close to and less expensive than Bozeman, it’s a lifestyle choice worth looking at.
This proximity to Bozeman, and more affordable real estate choices, makes Belgrade (and others) an attractive alternative to Bozeman.
Chart 1: In the last 12 months, Belgrade real estate median prices slipped from $539,900 ($525,000 this quarter) to $537,790, a decrease of ⇓ $1210 or ⇓ <1%.
In the last 2 quarters, Bozeman and Belgrade real estate prices (Bozeman now down to $700,000 ) have decreased from their record high of $560,000 at the end of Q1 2022.
Since Covid, median sales prices in Belgrade had risen significantly, from $320,950 in Q1 2020 to $480,000 in Q2 2021, to $560,000 in Q1 2022: a ⇑ $239,050 increase or ⇑ 74.5% increase in 3 years!
In the last 10 years, the rate of residential price increase has been similar between Belgrade, rate of 222%, and Bozeman, rate of 241%.
The price spread between the 2 cities was $89,000 in July 2016, $120,000 in July 2018, $112,100 in July 2020, and $173,000 in July 2022.
Belgrade’s median sales price has increased ⇑ $345,750 or ⇑ 2o4.3%, since Q1 2013 ($169,250).
Bozeman’s median sales price has increased ⇑ $438,000 or ⇑ 267.2%, during that same 10-year period ($262,000).
Residential real estate in Belgrade is more affordable than in Bozeman.
Chart 2: Both Belgrade and Bozeman residential real estate (houses, condos, townhouses) for sale numbers have been dropping since mid-2020 and are presently stable at 35 and 145 respectively.
Consequently, Belgrade remains the more affordable town for families searching for a single-family dwelling.
In fact, other southwest Montana cities, like Manhattan and Three Forks are less expensive and reasonably close to Bozeman.
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