Bozeman Luxury Real Estate Listings (over $1M) – Homes, Condos, Townhouses
Just Luxury Homes? or Luxury Condos & Townhomes?
August 2024: Bozeman luxury real estate (over $1,000,000): median price is $1,275,000, which is down ⇓ $451,000 or 35.4% from July 2024’s $1,726,000.
Looking at Bozeman’s luxury prices based upon quarters:
Though monthly price points show dramatic price fluctuations, 2024 prices are up. This is why we prefer looking at quarterly not monthly prices.
From Q2 2023 to Q2 2024, median sales price for luxury properties (homes, condos, townhouses over $1,000,000) was up, ⇑ $182,200 or ⇑ 13.8%, from $1,317,500 to $1,499,700.
The 2024 forecast for Bozeman luxury real estate–inside and outside the city–calls for a warm market with continued price advances.
In addition, the forecast calls for the number of luxury properties for sale to increase.
Since Q1, 2022, luxury listing numbers have been rising, moving from 90 to 282.
2022 – 2023 Luxury Residential Focus
Chart 1: From Q1, 2022 to Q1 2023, the sales price for luxury residential inside Bozeman dropped from $1,299,900 to $1,265,000. Outside city limits, price rose from $1,600,000 to $1,705,000.
Median sales price for all Bozeman luxury residential was $1,255,000 at the end of Q1 2023, down just ⇓ $9,994 or ⇓ .7% from Q1 2022’s $1,459,994.
In the last 24 months, median sales prices for luxury residential outside Bozeman have decreased from $1,399,000 to $1,285,000, ⇓ $114,000 or ⇓ 8.1%.
In the last 8 quarters, inside the city price has dropped from $1,650,000 to $1,572,500, ⇓ $77,000 or ⇓ 4.7%.
Chart 2: Q2, 2023 new listing numbers for luxury residential listings had been declining.
Today there are 240 new listings of luxury properties for sale in Bozeman, a record number.
Looking back at the Bozeman luxury homes market: Median price for luxury homes.
During the area’s record year inside the city in 2021, median luxury prices rose ⇑ $56,000. Beyond city limits, median prices increased ⇑ $69,000.
Summarizing 2020: inside the city, median luxury prices increased ⇑ $14,700, outside Bozeman, median prices increased ⇑ $73,250.
In 2019 inside Bozeman, median luxury sales price declined ⇓ $90,000. Also, in 2019, median sale price outside Bozeman began the year around $950,000 but finished down ⇓ $35,000 at $915,000 in December.
For 2018 inside Bozeman, median sales prices increased ⇑ $40,000. Outside city limits, prices increased ⇑ $50,000 in 2018.
During 2017, median sales price for Bozeman luxury real estate saw a strong price increase, ⇑ $51,000, inside the city and a simultaneous strong decrease of ⇓ $90,000 outside the city.
