Bozeman Homes For Sale – Homes Cost $877,500 in Bozeman – New Homes
Days on Market ⇒ – Sales Prices ⇑⇓ – Inventory ⇑ – Bozeman Absorption Rates
Bozeman Housing Prices Cooling (Building Boom Continues)
Chart 1: Q4 2022: the median home price inside the city of Bozeman is $790,000, up ⇑ $95,050 or ⇑ 13.7% from Q4 2021’s $694,950.
Outside Bozeman city limits, median home price is $947,500 up ⇑ $48,000 ⇑ 5.3%, from August 2021’s $899,500.
Together, the overall median home price in Bozeman in Q4 2022 is $877,500, up ⇑ $87,500 or ⇑ 11.1% from Q4 2021’s $789,950.
Home prices had been increasing for over 7 years, but now the forecast ⇒ is for cooling as listings are increasing and prices are falling or flattening.
Home prices had been increasing rapidly since March 2020 but now slowing.
In Q1 2022, we continued with the steepest rise in Bozeman home sales prices in history. In just one month–January–we were up ⇑ 13.9% or ⇑ $110,000 above Q4 2021 prices, but in Q2 and Q3, price increases began slowing or flattening.
Looking Back: January 2021 vs January 2020 vs January 2022
Inside Bozeman City Limits: Q1 2022’s median home price, $755,000 was higher than Q1 2021’s $635,000; this was above Q1 2020’s $465,000.
Outside Bozeman City limits: Q1 2022’s median home price, $1,150,000 was higher than Q1 2021’s $699,750; this was higher than Q1 2020’s price, $465,000.
Bozeman Home Prices in 2020
In Q4 2020, median sales prices inside the city rose to $530,000, ⇑ $63,000 or ⇑ 13.5% increase in price over January 2020’s price.
Outside Bozeman city limits: median home sales prices began Q1 (January) 2020 around $650,500 and rose ⇑ $114,500, ⇑ 17.6%, to $765,000 by the end of Q4.
Chart 2: In Q1 2021, Median percent of last list price was 100% inside the city and about 99% outside Bozeman.
In December 2020, the median percent of last list price for Bozeman single-family homes hit 100%, for the first time since April 2018.
High percent of (last) list price is a testament to the housing boom Bozeman had been experiencing since early Q2 2020.
Price trends ⇓ continue downward in 2022.
Bozeman Home Sales History
Chart 3: December 2021, the number of homes for sale throughout Bozeman flattened out in July at around 91.
Except for a small rise in the first half of 2020, the number of homes for sale inside and outside the city of Bozeman continued declining.
In Q4 2021, there were 48 homes for sale inside Bozeman.
Presently, there are a whopping 254 homes for sale outside Bozeman, which is ⇓ 174 higher or a⇑ 218% increase in homes for sale compared to Q4 2021’s 80.
Average Days On Market
Chart 4: In Q4 2022, Average Days on Market (ADM) for homes in and outside the city continues increasing.
Q4 2022, ADM for a home inside city limits is 26 days.
ADM outside Bozeman is 31 in Q4 2022.
Taunya’s Featured Area Homes And Land For Sale
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