Q2 2024 Bozeman Luxury Market Report (Over $1,000,000 – Homes, Condos, Townhomes)
Declining Luxury Prices ⇓, Inventory ⇓, Pending Sales ⇓
| Q | MEDIAN PRICE | PENDING SALES |
| Q1 2024 | $1,465,250 | 84 |
| Q4 2023 | $1,360,000 | 53 |
| Q3 2023 | $1,412,000 | 99 |
| Q2 2023 | $1,317,500 | 100 |
| Q1 2023 | $1,450,000 | 57 |
Bozeman Luxury Market Review – Predictions, Sales Numbers, Price Trends
Chart 1: As we enter Q2 2024, the price trend in the Bozeman’s luxury real estate market is up.
Bozeman’s median high price inside and outside the city for 2023 was $1,450,000 in Q1 2023.
Prices in Bozeman’s luxury markets: “inside the city” and “outside the city” have been rising and falling for a number of years, but the trend has been downward since the end of 2022.
Inside the city of Bozeman, the median price high was $1,270,000 in Q3 2023.
(The all-time record median home price was inside Bozeman’s city limits in 2021.)
Outside Bozeman, the 2023 high came in at $1,705,000 in Q1 2023.
Number of properties for sale in Bozeman’s luxury market:
Chart 2: The number of luxury properties for sale in all Bozeman has been dropping since mid-2023 when there were 182 luxury properties for sale.
In Q1 2023 there were 160 properties for sale in Bozeman.
In Q1 2024, there are also 160 luxury properties for sale in all of Bozeman, MT.
Inside the city of Bozeman, the number of luxury properties is 65.
Inside Bozeman’s city limits, the record high number of luxury properties for sale in the last decade was 90 in Q3 2023.
Presently, outside Bozeman, there are 95 luxury properties for sale.
Outside Bozeman’s city limits, the record high number of luxury properties for sale in the last decade was 167 in Q3 2023.
Pending sales in Bozeman’s luxury market:
Chart 3: The number of pendings in all of Bozeman’s luxury markets began increasing in Q4 2019, a bit prior to Covid hitting the streets of Bozeman.
At that time, there were 11 pending listings in all of Bozeman.
Today, in Q1 2024, there are a 84 pending luxury sales in all of Bozeman.
At the inception of Covid in Q2 2020, when there were 29 pending, pending sales began increasing inside Bozeman’s city limits.
Inside Bozeman there are 33 pendings.
And outside the city there are 51 luxury pendings.
SUMMARY: In Bozeman, luxury prices are increasing inside and outside Bozeman.
Inventory is declining inside and outside Bozeman.
