November 23rd, 2022

Gallatin County, MT Real Estate Market

Brett Fagan Photo 2021 - Bridger Mountains Gallatin County, Montana ©Brett Fagan Photo

Gallatin County, Montana Real Estate Market Report – Trends, Prices

Q4 2022: The median cost of a home in Gallatin County, MT is $779,000

Since the pandemic hit Montana in April 2020, Gallatin County (and other southwest Montana municipalities) has seen median real estate (homes, condos, townhomes, land) prices surge, climbing from $379,900 to $650,000 in September 2022.

Gallatin County, Montana median real estate prices: residential and land.
Chart 1: Gallatin County, Montana median real estate out.

This is a ⇑ $270,100 or ⇑ 71.1% increase in Gallatin County real estate prices in 29 months.

Since Q1 2020, Gallatin County home prices have increased from $454,500 to $779,000 in Q4 2022 a, ⇑ $324,500 or ⇑ 71.4% increase in 33 months.

The population of Gallatin County, MT, 126,640 in 2022. It’s seat is in Bozeman.

Chart 1: As you might expect, all residential (home, condo and townhouse) prices have risen, too, from $370,000 to $665,930 in Q4 2022 a, ⇑ $295,930 or ⇑ 79.9% increase in 33 months.

Gallatin County Montana land prices have increased the most, from $139,200 (Q2 2020) to $420,000, a ⇑ $280,000 or ⇑ 200% rise in 30 months!

Photo Number of Homes For Sale in Gallatin County, Montana
Chart 2: Number of homes for sale in Gallatin County, Montana.

In Q4 2022, all Gallatin County real estate prices, have begun decreasing, and land prices have begun flattening.

Covering over 2,632 square miles–5.4% larger than the state of Delaware–Gallatin County, Montana consists of mountains, rivers, and prairies.

Chart 2: As the coronavirus pandemic was ramping up in Montana during March, April, and May of 2020, there were 443 homes for sale in Gallatin County, Montana.

Thirty-three months later, in Q4 of 2022, the number of homes for sale is 347…on the rise>

The number of homes for sale in Gallatin County, MT has been increasing since Q1 2022.

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