Bozeman Real Estate Market Report - May, 2018 - Bozeman Real Estate Group

Bozeman 2021 Real Estate Market Appreciation & Housing Fundamentals Explained

It is reasonable to say 2020 has actually been rather a year! Last year we anticipated that 2020 would be a strong year for Bozeman genuine estate, however nobody might have predicted how the Covid pandemic would impact the marketplace. At the end of 2019, the typical sales rate of a single-family house in Bozeman was $489,850, and at the end of 2020 that has increased by 19% to $585,000.

1. Inventory will stay low Low stock has actually been a concern in Bozeman for numerous years, however since May of 2020, we have actually seen a drastic decrease in houses for sale. Low inventory is not something we are seeing just in Bozeman, but across the country. According to, stock is exceptionally low all over with less than 500,000 houses for sale.

There are a handful of brand-new subdivisions being established in Bozeman, and a number of apartments downtown going up, however there will continue to be a lack of supply issue this year. 2. Demand will remain high Bozeman has actually been experiencing growth for the previous years and gaining national attention as one of the best locations to live.

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With the number of individuals continuing to work from another location and the desire to leave congested cities, we expect this to continue well into the new year. Adding to the demand are local house purchasers wanting to either purchase their very first home or upgrade, producing more demand for our having a hard time supply of homes readily available.

3. Found Here will see an increase in interest With low supply and high demand, regional representatives agree that the surrounding Bozeman neighborhoods will see a boost in interest. Some house buyers are finding that living in Bozeman is just not an option. Luckily there are excellent options nearby.

With the median prices of a single-family house around $374,000, Belgrade continues to be a more affordable alternative. Livingston, Manhattan, and 3 Forks will probably have more people seeking to purchase homes in their communities since they are all within commuting range to Bozeman, have more affordable housing expenses, and smaller town vibes.