By GAIL SCHONTZLER Chronicle Staff Writer
Home sale prices slipped in the Bozeman area in 2008 to a median of $308,850, a decline of $18,400 or 5.6 percent from the previous year, according to figures released by the Gallatin Association of Realtors.
ERIK PETERSEN/CHRONICLE A real estate sign advertising a reduced price stands in front of a row of condos in Valley West Thursday.
From a peak of $340,851 in 2006, Bozeman-area home prices have fallen $32,001 or 9.3 percent in two years, according to figures compiled by the 800-member association's Southwest Montana Multiple Listing Service.
While that is bad news for home owners and sellers, it's good news for buyers, who can also take advantage of low mortgage rates.
"It's definitely a buyers' market," said Sally Hickey, an ERA Landmark Real Estate agent and 2009 president of the Gallatin Association of Realtors. "Our inventories are high. There are a lot of opportunities out there. With prices being down, it provides a bigger opportunity to buy."
Read more. Special Thanks to the Bozeman Daily Chronicle and Sally Hickey of ERA Landmark Real Estate.
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