There was a time when the average cost of a home in Bozeman was in the $200,000 range. And while those “good old days” seem like a distant memory, it’s hard to believe that it was just five years ago. Oh, how times have changed in Bozeman real estate!
Five years ago, the average sold price of a single-family home in Bozeman was just below $275,000. Since then, the price has increased by 56% reaching $425,992 by the end of 2017.
Great news for Bozeman homeowners, not so great news for Bozeman buyers. In 2012, the average price per square foot of a Bozeman single-family home was an average of $126/sq.ft. By the end of 2017 price per square foot had climbed to just over $200/sq.ft.
According to data provided by the Montana Department of Revenue, the value of nearly every home in Bozeman increased significantly between 2014 and 2016 adding up to an estimated $524 million in value, just within city limits. This increase in value is creating significant wealth for many existing Bozeman homeowners, pushing their home values well over what they were purchased for.
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