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Bozeman Montana Real Estate

February 25, 2019 by jwhite 3 Comments

 

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BOZEMAN — As home prices in Gallatin County approach a median price of $1 million, real estate in neighboring counties, like Park County, are seeing a spillover effect, raising prices there as well. A recent study from the Gallatin Association of Realtors compared Bozeman’s housing prices to major coastal cities such as Seattle and found Bozeman more expensive. The median price for a single-family home in the greater Bozeman area is currently $979,500. Seattle’s median is $52,000 less.

A recent article posted by Bozeman Real Estate Group says one of the main reasons Bozeman houses are so expensive is out-of-state money.

People moving to Bozeman from places where real estate is more expensive can easily compete in our market, outbidding local buyers and paying all cash for homes. According to Montana Title and Escrow, approximately 45% of Montana Title closings in 2021 were cash deals—a threat to locals who wish to stay but simply cannot afford to.

Is Bozeman a wealthy city?
In 2022, Bozeman, MT had a population of 120k people with a median age of 33.5 and a median household income of $83,434. Between 2021 and 2022 the population of Bozeman, MT grew from 116,725 to 119,685, a 2.54% increase and its median household income grew from $76,208 to $83,434, a 9.48% increase.
Bozeman is part of a national trend as higher interest rates have impacted real estate across the country. But in a market where the median price of a single-family home went from $459,000 in July of 2019 to $745,000 in July 2022, any sign of a slowdown is notable.

Filed Under: Bozeman Montana Real Estate

Comments

  1. wallboard contractors says

    February 4, 2025 at 2:58 am

    A recent study from the Gallatin Association of Realtors compared Bozeman’s housing prices to major coastal cities such as Seattle and found Bozeman more expensive.

    Reply
  2. Taylor says

    May 8, 2025 at 9:52 am

    Our market is highly competitive, allowing people from more costly areas to move to Bozeman, outbid local buyers, and pay cash for homes.

    Reply
  3. video production service san jose says

    June 12, 2025 at 8:26 am

    Since rising interest rates have affected real estate nationwide, Bozeman is part of a nationwide trend.

    Reply

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