October 27th, 2023

Three Forks Montana Real Estate

Photo Taunya Fagan Three Forks, Montana Real Estate

Three Forks Listings: Homes, Land, Farms, Ranches, Commercial Property

 Q4 2023 Home Prices ⇓ – Homes Cost $507,000 (August) $537,000 (Q3) in Three Forks, MT

MONTHTHREE FORKSBOZEMAN
Q3 2023$537,000$1,140,000
 Q2 2023$564,500$925,000
 Q1 2023$562,500$938,000
Q4 2022$550,000$993,500
Q3 2022$542,500$947,500

Three Forks Real Estate Listings Under $100000Three Forks Real Estate Listings $700000 to $800000
Three Forks Real Estate Listings $100000 to $200000Three Forks Real Estate Listings $800000 to $900000
Three Forks Real Estate Listings $200000 to $300000Three Forks Real Estate Listings $900000 to 1 million
Three Forks Real Estate Listings $300000 to $400000Three Forks Real Estate Listings 1 million to 2 million
Three Forks Real Estate Listings $400000 to $500000Three Forks Real Estate Listings 2 million to 4 million
Three Forks Real Estate Listings $500000 to $600000Three Forks Real Estate Listings Over 4 million
Three Forks Real Estate Listings $600000 to $700000Read About Three Forks, MT History

Q3 2023: Three Forks Home Prices $537,000 vs Bozeman Home Prices $1,140,000

Photo Three Forks, MT home prices, ten years.
Chart 1:  Three Forks, Montana median home prices, ten years.

Chart 1: Entering Q4, 2023, the median home price in Three Forks is $537,000; the Q2, 2023 price was $564,500, which is a ⇓ $27,500 or ⇓ 4.9% between Q1 2023 and Q2 2023.

All real estate types*: The median price for Three Forks, MT real estate is $534,000, which is ⇓ $4,000 or ⇓ .7% less than Q2 2022’s price of $538,000.

Three Forks, MT Population is ~2750 – Near The Missouri River Headwaters – Elevation 4,081′ – 33 Miles West of Bozeman

The Three Forks, MT real estate and housing forecast called for flattening or decreasing prices in 2023.

Three Forks’ home prices make the cost of a Three Forks home an alternative to the high price of a Bozeman home.

Historical Trends in Three Forks Real Estate* (homes, condos, townhomes)

Three Forks’ real estate prices have been trending upward since 2014.

Three Forks’ real estate cost $217,200 in Q2, 2015; $249,900 in Q2, 2017; $330,000 in Q2, 2019; $340,000 in Q2 2020; $490,250 in Q2, 2021; $604,500 in Q2 2022; and $538,000 in Q2 2023.

The median price of Three Forks real estate has increased ⇑ $320,800 or ⇑ 59.6% in the last 11 years–since Q2 2013.

Days on Market, Three Forks, Montana Real Estate: Homes

Chart 2: Three Forks’ days on market (DOM) is 27 days. Last quarter it was 32 days.

History Days on market for Three Forks, MT vs Bozeman (homes).
Chart 2: Days on market for Three Forks, MT vs Bozeman (homes) in year 2022.

This is similar to Bozeman’s trend, where DOM is up to 35 days; last quarter it was just 12 days.

Snapshot: Since 2014, Three Forks’ days on market has been declining for the most part.

In 2014, Three Forks’ days on market was 90 for the year and Bozeman’s, 50.

Number of days on market for Three Forks and Bozeman are rising.

Presently, there are 45 homes for sale in Three Forks, Montana, lowest number of homes for sale in 2023.

There are 363 homes for sale in Bozeman.

*all residential real estate types = Single Family, Condo, Townhouse


Economically, Three Forks relies on farming and ranching, construction services, tourism, service industries, hunting, and fishing.

Fort Three Forks, Montana was established in 1810 by several mountain men from the Missouri Fur Company.

Three Forks is also at the head of the Missouri River, created by the confluence of the Madison, Jefferson, and Gallatin Rivers.

In 1862, the Gallatin Town Company laid out Gallatin City on the Missouri’s west side, at the Gallatin River’s mouth, one of three rivers that form the Missouri River.

A few years later, a new city, named Gallatin City II, was established on the Missouri’s east side where the majority of Missouri river traffic was.

Today’s Three Forks is a few miles south of both Gallatin cities and was established on the original site of James Shedd’s Madison House, built in 1881.

The 1910 Sacajawea Hotel (aka, Madison Bridge House), contains a part of the original Madison House.


Lazy J Ranch, Three Forks, Montana – 196± Acres – Temporarily Off-Market – MLS  – Home – Barn – Workshop – Apartment

The Lazy J River Ranch with 196± acres surrounded by large ranches, a mile of the Jefferson River, and sweeping views of 5 mountain ranges will allure the outdoor enthusiast who seeks adventure, peace and tranquility.

As one of Montana’s finest recreational ranches set in the charming, western town of Three Forks, home to 4 blue ribbon rivers, Copper City biking, Headwaters State Park, the Lazy J river ranch will undoubtedly leave an indelible mark.

Your modern Scandinavian complex was deliberately designed to connect your soul to nature with seamless indoor/outdoor spaces, trails through rich riparian and wooded areas teeming with upland birds, big game, fox, beaver and private river access to enjoy its boundless beauty.

Whether you’re an equestrian, angler, hunter or just want respite from the world, The Lazy J Ranch will certainly enchant. Not many places remain where you can live off the land, fish from your shores or saddle up and ride into town for a burger and beer.

No Zoning. No Covenants. Freedom. Minutes to Bozeman and our international airport.


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Taunya Fagan

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