Outlook for the Gallatin Valley (Bozeman, Big Sky, Belgrade and more)
Activity in Bozeman is very brisk and even bigger news, Big Sky is really starting to gain momentum. With a luxury market such as Big Sky being a lagging indicator, momentum in this market is a very positive sign. Bozeman is taking off – the stats below prove this out and just seeing what is happening in the local real estate market is wonderful to watch. The realtors and their suppliers are very busy, prices are rising, days on market stats are shrinking. It is a great place to live and the stats just prove this out.
Stats for Improved Properties:
|
Market Area |
Units Sold – 2012 |
Units Sold – 2011
|
Median Price – 2012 |
Median Price – 2011 |
Days on Market – 2012 |
Days on Market - 2011 |
Summary |
|
Bozeman |
632 |
551 |
$229,900.00 |
$221,000.00 |
84 |
108 |
Improved! |
|
Belgrade |
172 |
162 |
$151,005.00 |
$140,000.00 |
81 |
99 |
Improved! |
|
Big Sky |
93 |
106 |
$340,000.00 |
$291,845.00 |
245 |
238 |
Mixed |
|
Manhattan |
36 |
37 |
$170,000.00 |
$159,000.00 |
273 |
181 |
Mixed |
|
Three Forks |
22 |
23 |
$147,000.00 |
$144,900.00 |
123 |
149 |
Improved! |
Summary of Data for Improved Properties:
- Bozeman has really hit a groove – 81 more properties sold year to year, median price is climbing and days on market have dropped.
- Belgrade also improved. 10 more units have sold year to year, median price up and days on market are down.
- Big Sky statistics are mixed. Median price is up almost $50k, units sold down a touch and days on market are still behind last year. The trend is improving and should continue to. As noted, Big Sky market activity is very vigorous. I expect these stats to continue to improve each month.
- Manhattan is a mixed bag – median price up. Units sold stagnant and days on market are actually up.
- Three Forks a very similar story but days on market and median price are both improved.
Overall, the Gallatin Valley is very healthy and continuing to improve!
Call, e-mail or text me for more information on the market and to get signed up for property alerts which are daily updates based on your parameters or visit my web site.. I look forward to serving you! Tim
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