October 27th, 2023

Bozeman Homes For Sale

Taunya Fagan Bozeman Homes

Bozeman Homes For Sale – Homes Cost $950,000 in Bozeman, Q4 2023 – New Homes

Days on Market ⇒ – Sales Prices  – Inventory ⇑ – Bozeman Absorption Rates


Bozeman Home Listings $100000 to $200000Bozeman Home Listings $800000 to $900000
Bozeman Home Listings $200000 to $300000Bozeman Home Listings $900000 to 1 million
Bozeman Home Listings $300000 to $400000Bozeman Home Listings 1 million to 2 million
Bozeman Home Listings $400000 to $500000Bozeman Home Listings 2 million to 3 million
Bozeman Home Listings $500000 to $600000Bozeman Home Listings 3 million to 5 million
Bozeman Home Listings $600000 to $700000Bozeman Home Listings Over 5 million
Bozeman Home Listings $700000 to $800000

Bozeman Housing Prices Rising (Building Boom Continues)

Photo Median sales price inside and outside city limits & all Bozeman.
Chart 1: Median sales price inside and outside city limits & all Bozeman.

Chart 1: At the start of Q4 2023, the median home price inside the city of Bozeman increased to $824,250, up ⇑ $74,250 or ⇑ 9% from Q2 2023’s $750,000.

Outside Bozeman city limits, median home price is $1,140,000, up ⇑ $215,000 or 18.6%, from Q2 2023’s $925,000.

Together, the overall median home price in Bozeman in October 2023 is $950,000, up ⇑ $72,500 or ⇑ 7.6% from Q3 2022’s $877,500.

Home prices had been increasing for over 7 years, but now the forecast is for cooling; prices are falling or flattening.

But for a decline from Q1 2022 to Q2 2023, Bozeman home prices increased rapidly beginning March 2020 and continue.

Photo Median percent of list price inside city, outside city, & All Bozeman.
Chart 2: Median percent of list price inside city, outside city, & All Bozeman.

Q1 2021, began the steepest rise in Bozeman home sales prices in history.

From Q1 2021 to Q1 2022, Bozeman home prices rose from $510,000 to $900,500. This was an increase of ⇑ $390,500 or a ⇑ 43.4% increase in one year.

Inventory in October 2023 is 226 homes for sale in Bozeman.

Looking Back: January 2020 vs January 2021 vs January 2022 vs January 2023

Inside Bozeman City Limits: January 2020’s median home price, $450,000 was lower than January 2021’s, $533,595; this was below January 2022’s, $772,500. The January 2023 price was lower at, $735,000.

Outside Bozeman City limits: January 2020’s median home price, $627,2700 was lower than January 2021’s, $645,000; this was higher than January 2022’s, price, $1,100,000. This January’s price was $952,500.

Looking Back: Percent of List Price

Chart 2: In late Q1 2023, Average percent of list price is 96.9%; Last Q1, 100.3%; Q1, 2021, 100.5%; and in Q1, 2020, 98.5%.

In December 2020, the percent of list price for Bozeman single-family homes hit 100%, for the first time.

Photo Total number homes for sale inside city, outside city, & Bozeman.
Chart 3: Total number homes for sale inside city, outside city, & Bozeman.

The recent history of high percentages of list price is a testament to the housing boom

Bozeman had been experiencing since late 2020.

Price trends continue downward in 2023.

Bozeman Home Sales History

Chart 3: In late January 2023, the number of homes for sale throughout Bozeman was 160.

This number has been decreasing since July 2022’s high of 261.

January 2022 saw Bozeman’s lowest number of listings, 45, in decades.

Photo Days On Market inside city, outside city limits, & Bozeman.
Chart 4: Days On Market inside city, outside city limits, & Bozeman.

The 2021 high was in January, which saw 248 homes for sale in Bozeman.

Previously, in January 2020, we had 194 listings.

By December of that year, this number had dropped to 68.

Average Days On Market

Chart 4: In Q4 2022, Median Days on Market (MDM) for homes in and outside the city began declining.

Now, in late Q1 2023, MDM for a home inside city limits is 17 days.

MDM outside Bozeman is 21.

Taunya’s Featured Area Homes And Land For Sale

5204 Patterson Road, BozemanBozeman Real Estate$5,375,000
5204 Patterson Road, BozemanBozeman Real Estate$5,375,000
4762 Aspen Lane, BozemanBozeman Real Estate$4,995,000Pending
4762 Aspen Lane, BozemanBozeman Real Estate$4,995,000Pending
864 Elk Springs Road, BelgradeBelgrade Real Estate$4,800,000
163 Doney Way, BozemanBozeman Real Estate$2,595,000Sold
466 Longhorn Road, BozemanBozeman Real Estate$2,250,000Sold
1865 Boylan Road, BozemanBozeman Real Estate$1,725,000Sold
620 Bridger Lake Drive, BozemanBozeman Real Estate$1,699,000
TBD Valley Ridge Rd Road, BozemanBozeman Real Estate$1,350,000Sold
1010 OConnell Drive, BozemanBozeman Real Estate$1,350,000Sold
1251 Horseshoe Gulch, ManhattanManhattan Real Estate$1,325,000Sold
3036 Macnab Street, BozemanBozeman Real Estate$1,150,000Pending
210 Stillwater Creek Drive, BozemanBozeman Real Estate$750,000
2200 W Dickerson 22, BozemanBozeman Real Estate$399,000Contingent

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