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JULY 2020 MARKET STATISTICS |
Area 1 – Bozeman City Limits Area 2 – Bozeman Area Area 3 – Belgrade and Surrounding Area Area 4 – Manhattan/Three Forks Area 5 – Gallatin Canyon/Big Sky Area 6 – Livingston Area 7 – Ennis SINGLE FAMILY INVENTORY Active listings in Bozeman were down 50% from July last year. Area 2 inventory was down 47% from last year. Area 3’s inventory was down 68%. Area 4 is down 1% from last year at this time. Area 5 inventory is up 3% from last year. Area 6, Livingston had 59% less inventory. Area 7 had 35% fewer active listings than July 2019. So – as you can see, our inventory is basically down, which gives properties on the market a distinct advantage. THE NUMBER OF MLS SINGLE-FAMILY SALES in July was mixed compared to July 2019. Area 1 had 6% fewer sales compared to last July, Area 2 had 16% more and Area 3 had 2% more sales. Area 4 had decreased sales by 6%. Area 5, Big Sky, had 29% fewer MLS sales in July. Area 6 had 24% more sales. Area 7 had 8% more sales. MEDIAN SALES PRICES FOR SINGLE FAMILY HOMES are considerably higher compared to July 2019 in all areas. Bozeman City prices are up 7%, with a median of $483,000. Bozeman Area 2 shows sales prices up 12% to $619,385. Area 3 has a 7% higher median price ($357,000), and Area 4 is up 13% for a median sales price at $375,000. Area 5 is up 1% from July 2019 with a median of $1,750,000. Area 6 median price is up 10% to a median sales price of $341,900. Area 7 is up 16% to $403,000 from July 2019. CONDO/TOWNHOUSE inventory in Bozeman was down 29% from 12 months ago. Inventory in Belgrade up 9% from last July. There are 96 condos on the market in Areas 1, 2, and 3 with average sales price of $297,000 . Sales for July were up 13% in Bozeman, up 9% in Belgrade. Median condo sales price in Bozeman is down 5% from last July to $310,000. Area 3, Belgrade, condo sales prices are up 9% to a median of $283,900. Area 5, Big Sky, has 4% less condo inventory than last year, 23% less were sold than last year, and the median sales price is up 8% to $575,000 in July. New construction is most important in the condo market in Bozeman. What’s that mean? The average (or mean) house price is easy to calculate but can get skewed up by luxury sales. The median price = half the homes were sold at prices above it, and half below. For real estate prices, it’s generally a better measure. These stats are generalized, so please feel free to call Sharon or Brian for any questions on our inventory and sales in specific price ranges and areas. We also have statistics on LAND and COMMERCIAL inventory and sales. We’re always ready to help with a FREE CURRENT MARKET ANALYSIS for your property. Just give us a call and we’ll get stats just for you. Always glad to help!! |
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How to Buy a Home for Changing Needs
By Patrick Young |
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“We most appreciated your easy and helpful manner towards two octogenarians who had not been through the Buying and Selling process in 21 years. Walking us through the electronics made the entire process a breeze. We would recommend Sharon and Brian to a colleague or a friend.”
– Dick & Shirley
“Brian did an amazing job throughout the whole process of buying our home! He was able to find us exactly what we were looking for. We would absolutely recommend Brian & Sharon to our friends!” – John & Jody |
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FEATURED LAND |
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