Gallatin County real estate report shows prices up, inventory low

[mahatmakanejeeves]

Gallatin County real estate report shows prices up, inventory low

By Juliana Sukut Chronicle Staff Writer 21 hrs ago

Bozeman homes stayed on the market for an average of less than two weeks in August as the city’s residential real estate market continued to see high prices and low inventory.

The median price for a single-family home in August rose to $769,000, a 31% increase from August 2020, according to a monthly real estate report from the Gallatin Association of Realtors. From August 2019 to August 2021, home prices rose 51%.

It’s the highest monthly median price in 2021 for a single-family home in Bozeman, although the city has seen monthly median prices above $700,000 since June.

And homes didn’t stay on the market long. In Bozeman, a single-family home stayed on the market in August for an average of nine days — selling nearly 4 times faster than in 2020.

The greater Big Sky area saw even more drastic increases in home prices, with the median price for a home rising 110% from August 2020 to August 2021 to a whopping $3.05 million.

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Juliana Sukut
Business and Health Reporter

[MontanaMama]

1. Ugh. We've been discovered.

Now that people know they can work remotely, they've chosen to do it where there's a little more elbow room than in the big city. I don't think there is any going back...and, it is difficult to witness.

[Harker]

3. As a former Coloradan, you have my sympathies.

It's a sad process.

[GemDigger]

6. With much dismay,

I agree with you. I don't think it will even stay at this level. The growth was so much so fast and so many people paying much, much more than the asking price before covid. With covid it got even worse.

[cilla4progress]

2. Yes...

My daughter moved to Bozeman in 2016. She found it doing research online. We had thought we'd move somewhere in the area to be near her in our dotage. But that dream is quickly fading. I've never felt right about contributing to the inundation of a place like Bozeman, or Montana. It's not entirely dissimilar where I live in rural central Washington. Both properties on either side of our small acreage have new development since COVID - when remote work became more widespread. I've had this sidehill to myself for 30 years. Kinda hard to share it. Easier when the folks are nice. These ones aren't...

Good luck. Maybe when folks experience the prevalent wildfire smoke and freezing winters some will leave...

[MontanaMama]

4. I've never wished so hard for a once in a century

winter!! And, I hate moving snow...the older I get the more I don't like it. That said, I'd sure take one for the team if we could scoot a few folks out of Missoula.

[cilla4progress]

5. Yep.

[GemDigger]

7. I will take -20 degrees for weeks on end and 30 inches of snow every other day if it

would keep people away. Well maybe not for that long but some good cold snaps and a lot of hefty wet snow would do us good for cleaning some peeps out.

The other plus is that we need a lot of snow this winter anyhow so it would be a two birds one stone kind of thing.

[MontanaMama]

8. Amen sister.

Bring it.