Bozeman Homes For Sale – New Homes – How Much Do Houses Cost In Bozeman?
Average Days on Market ⇓ – Median Sales Prices ⇑ – Number Homes For Sale ⇓ – Bozeman Absorption Rates – Condos/Townhomes Here
A Bozeman home costs $679,500 in August 2021
Bozeman Housing Boom Continues Into August 2021
Chart 1: the median sales price for Bozeman homes inside the city is $638,000, up ⇑ $93,000 or ⇑ 17% from January 2021’s $545,000.
Outside Bozeman city limits, median sales price is $774,900, up ⇑ $98,800, ⇑ 14.6%, from January 2021’s $676,100.
Together, inside and outside the city, the overall cost of a home in Bozeman is $679,500 in August 2021.
Bozeman home prices ⇑ have been increasing for over 7 years and the forecast ⇑ is for continued increases as the area struggles to keep up with Bozeman’s housing boom.
Home prices have been increasing sharply since March 2020; prior to this, prices had mostly stagnated in Q1 2020.
In Q3 2021, we continue with the steepest rise in Bozeman home sales prices in history, ⇑ 27% or ⇑ $144,500 above Q3 2020 prices.
Looking Back: January 2021 vs January 2020
Inside Bozeman City Limits: January 2021 price was $545,000, ⇑ $80,000, ⇑ 18.5% more than January 2020’s $460,000.
Outside Bozeman city limits: January 2021 price was $676,100 ⇑ $121,100, ⇑ 22% above January 2020s $555,000.
Bozeman Home Prices Back In 2020
In Q4 2020, Bozeman home 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 $555,000 and rose ⇑ $5,000, less than 1%, to $560,000 by the end of Q1. But by the end of Q4, median sales price had risen ⇑ 19%, ⇑ $126,2000! to $681,200.
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 has been experiencing since early Q1 2020.
Price trends for Bozeman homes ⇑ continues upward.
Bozeman Home Sales History
Chart 3: May 2021, the number of homes for sale throughout the Bozeman area has been dropping for years.
Except for a small rise in the first half of 2020, the number of homes for sale ⇓ inside and outside the city of Bozeman continues downward in 2021.
In May 2020, there are 22 homes for sale inside Bozeman.
In May 2021, there are 47 homes for sale outside Bozeman, which is ⇓ 102 lower, about a ⇓ 217% drop in homes for sale outside Bozeman in May 2020 than its 149.
Average Days On Market
Chart 4: In 2021, average days on market for Bozeman homes in and outside the city continues declining.
March 2021, average days on market for a Bozeman home inside city limits was 37 days.
Also in March 2021, average days on market outside Bozeman was 61.
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