Bozeman Land For Sale, 2020 – Commercial and Building Lots – Ranch, Farm, Hunting Land
Q4 2020 – Land For Sale in Bozeman and Gallatin County MT – Over 90 Listings – Continuous Updates
Chart 1: In the last 5 years, (since December 2016) median sales prices for Bozeman land have risen significantly–more than doubling–from $79,500 in-city and $97,000 outside Bozeman city limits to $133,900 inside the city and $265,000 outside the city in December 2020.
Months of inventory drops at the end of the year and rises during summer through early fall.
Chart 2: From Early 2016 to late 2020, the months of inventory of Bozeman in-city land dropped significantly during 2016, from 15.7 months in March 2016 to 2.9 in November 2017 and has roller-coastered into late 2020.
Out-of-city months of inventory, starting January 2015 began decreasing from 22.1 to 11.1 months, March 2017, at which time it began increasing to 18.5, January 2019. Months of inventory then began decreasing in January 2019, to 14.9 months of inventory in Q2 2020, and has decreased to 9.1 in December 2020.
In Bozeman city limits, Months supply then began increasing to 11.1 months, September 2019.
Months on market was 9.9, Q2 2020 and is 4.8 in December 2020.
For the last 2 years, inventory has remained low, averaging about 20 listings/month, down 41% from a high of 35 listings/month way back in January 2015.
From 2005-2020, Bozeman’s population rose ~33%.
The Pressures of Bozeman’s 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 pushing up the prices, of land.
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.