January 23rd, 2024

Bozeman Luxury Market Report 2024

Taunya Fagan Luxury Real Estate in Bozeman - Living Room, Gallatin Gateway MT

2024 Bozeman Luxury Market Report (Over $1,000,000 – Homes, Condos, Townhomes)

Declining Luxury Prices , Inventory , Pending Sales

QMEDIAN PRICEPENDING SALES
Q4 2023$1,360,00052
Q3 2023$1,412,00099
Q2 2023$1,317,500100
Q1 2023$1,450,00057
Q4 2022$1,550,00051

Bozeman Luxury Market Review – Predictions, Sales Numbers, Price Trends

Chart 1: As we enter Q1 2024, the price trend in the Bozeman’s luxury real estate market is down.

Photo Bozeman Montana luxury real estate market, median sales price Q4 2023.
Chart 1: Bozeman Montana luxury real estate market, median sales price Q4 2023.

Bozeman’s median high price for 2023 was $1,705,000 in January 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 hit $1,450,000 in March 2023.

(The all-time record median home price was inside Bozeman’s city limits in 2021.)

Outside Bozeman, the high for 2023 came in at $1,975,000 in September 2023.

Number of properties for sale in Bozeman’s luxury market:

Photo Bozeman, Montana luxury real estate for sale Q1 2024.
Chart 2: Bozeman, Montana luxury real estate for sale Q1 2024.

Chart 2: The number of luxury properties in all Bozeman has has 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 118 luxury properties for sale in all of Bozeman, MT.

Inside the city of Bozeman, the number of luxury properties is 43.

Inside Bozeman’s city limits, the record high number of luxury properties for sale in the last decade was 65 in July 2023.

Presently, outside Bozeman, there are 75 luxury properties for sale.

Outside Bozeman’s city limits, the record high number of luxury properties for sale in the last decade was 120 in June 2023.

Pending sales in Bozeman’s luxury market:

Photo Bozeman MT luxury real estate pending sales inside and outside city Q1 2024.
Chart 3: Bozeman luxury real estate pending sales inside and outside city Q1 2024.

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 9 pending listings in all of Bozeman.

Today, in Q1 2024, there are a 52 pending luxury sales in all of Bozeman.

At the inception of Covid in Q2 2020, pending sales began increasing inside Bozeman’s city limits.

Inside Bozeman  there are 16 pendings.

And outside the city there are 36 luxury pendings.

SUMMARY: In Bozeman, luxury prices are dropping inside and outside Bozeman.

Inventory is declining inside and outside Bozeman.

Tags: Bozeman Luxury Market Report, bozeman luxury report, luxury report for bozeman montana

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