Bozeman Land For Sale 2023 – Building Lots – Ranch, Farm, Hunting Land
Land For Sale in Bozeman and Gallatin County, MT – Over 100 Listings
Bozeman, one of the fastest growing, small cities in the US, is situated in the eastern part of Montana’s 2632 square mile Gallatin Valley, in Gallatin County, Montana’s fastest growing county.
Chart 1: Since August 2017, sales prices for all sizes of Bozeman land have been rising.
We’ve seen an increase from $97,190 inside the city and $138,000 outside the city.
In August 2022 prices of $331,500 inside Bozeman and $532,000 outside the city were dramatically higher.
In fact, this is an increase of ⇑ $234,310 or ⇑241% inside the city and ⇑ $394,000 or ⇑ 285.5% outside the city in just over 5 years!
Generally, months of inventory drops at the end of each year and rises during summer and into early fall.
Chart 2: For 10 years prior to 2021, the inventory of Bozeman land had fallen. In 2023 it’s on the rise.
There was a decline in inventory with Covid:
Outside Bozeman, land inventory dropped ⇓ 81% from Q2 2020 (247) to Q2 2021 (45).
Inside Bozeman supply did not drop much.
Interesting fact: In June 2021, closed sales numbers hit a record $170,175,530.
From 2005-2020, Bozeman’s population rose ~33%.
Pressures of Growth
Since 2010, Gallatin County’s population has grown about 25%. Learn about Gallatin County’s Triangle Plan.
Bozeman’s growth is consuming farmland, so availability of large parcels of Bozeman land is diminishing and prices are increasing for all sizes of land.
And, many landowners are placing their property into Conservation Easements, further diminishing the availability and increasing the price of land in Bozeman.
Twenty years ago, Bozeman land was reasonably priced for the time, but now, in early 2020, the region’s growth and demand for land has driven up the area’s land prices way beyond what most locals would have envisioned possible 20 years ago.
Compared to the cost of land in comparably-sized cities, Bozeman’s land is increasingly more expensive and acreage will continue to accrue in value at a greater rate than similarly-sized cities…as long as Bozeman growth continues and/or the economy remains vibrant.
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