Bozeman Homes For Sale – New Homes in Bozeman
Search ALL Bozeman, MT Homes – Get 2020 Data on Average Days on Market – Median Prices – Absorption Rates – Bozeman Housing History – Condos/Townhomes Here
Up-To-Date Bozeman Housing Graphs Below
The average sales price for Bozeman homes (chart 1) continues to rise both inside and outside Bozeman’s city limits.
Beginning in 2013, average home sales prices were just under $300,000 inside city limits and just over $400,000 outside city limits.
In July 2019, average home sales prices inside Bozeman city limits went over the $500,000 mark; outside city limits average home sales prices began the year around $700,000 and rose to about $730,000 in Q4 2019, and began to drop in late 2019 into Q1 2020.
Inside the city in 2019, median home sale prices (chart 2) hit their highest ever, $460,000 by year’s end. Outside city limits, median home sales prices peaked at $550,000 by the end of 2019 and have climbed a bit beyond that in Q1 2020.
The inventory (chart 3) of Bozeman homes for sale from late 2017 to the present has remained fairly constant inside and outside the city. Inventory has dropped in Bozeman’s “other areas.” Inside Bozeman the supply has been ~2.5 months. Outside city limits the supply has hovered around 4 months.
From 2013 to 2017: Since mid-2017, the inventory of homes for sale inside Bozeman MT city limits has remained fairly steady.
But since mid-2017, the duration of time (chart 4) these homes, in both areas, have been for sale has decreased, from ~four months to ~2.5 months in 2019.
Median percent of list price from 2012 through late 2016 increased from 96+% to over 99+%, but, in Q3-2018 “median percent of list price” dropped, though it remains high.
Beginning in the second half of 2017, homes for sale in Bozeman city limits increased but continued decreasing outside the city limits.
In 2019, the number of homes for sale within Bozeman’s city limit has leveled.
The consistent drop in the past few years of the “Month’s Supply of Homes For Sale” stabilized at a very low point in early 2017 and has remained around 3 months since.
Absorption Rate and Average Days On Market
Absorption Rate (AR) indicates how long it takes the average home, condo, town-home, etc. to sell in a particular area and in a specific time range.
This AR is calculated by dividing the number of active homes for sale in a given month by the number of homes sold in a given month. A rate above ~18-20% indicates a seller’s market and below ~15-17%, a buyer’s market.
Absorption Rate = Active Listings/Sold Listings
Generally, Average Days on Market (chart 3) decreases as the Absorption Rate increases.
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Taunya Fagan, Bozeman Real Estate – Boutique Luxury @ ESTATE House, 3960 Valley Commons Drive, Suite 1, Bozeman, MT 59718 – Call 406.579.9683