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BOZEMAN, MONTANA - According to the Gallatin Association of Realtors most recent market watch numbers, the median selling price of a single-family home in Gallatin County increased by $86,900 from July 2020 to August 2020.
Within city limits in Bozeman, the month of July’s median single-family home sales price was at $510,000, but in August it jumped to $584,500.
The biggest increase came in the greater Manhattan, Montana area where the median single-family home sales price skyrocketed by $115,450.
Median price stats are blunt statistical instruments so it would be interesting to get inside those numbers.
Is that rise in median sales price due to demand that pushed all housing (low priced, medium and high priced/luxury homes) up by an amount similar to the median rise? In other words, did all the boats rise equally percentage-wise?
Or is that most of the rise due mainly to sales of higher priced/luxury homes? (Not all boats rose).
Wow, just wow, that is really something.
Would have bought a second home last year if I had known.
Well, there go my plans to retire in Bozeman.
“BOZEMAN, MONTANA - According to the Gallatin Association of Realtors most recent market watch numbers, the median selling price of a single-family home in Gallatin County increased by $86,900 from July 2020 to August 2020.”
This is a one month period — just a single dot of datum.
I live in Bozeman and my Wife is a RE Broker/Owner so we know a bit about this market...
There is not a lot of inventory currently and this does tend to drive up prices. Additionally if there are a few ‘BIG’ sales (say a $7,000,000 home sale) in a 30 day period the ‘median’ price will tend to surge.
The BZN airport has numerous flights everyday, not back to normal to be sure but still lots of travelers. There has been a massive increase of General Aviation (private aircraft) with hundreds of aircraft on the ground and all of the private/rental hangars full.
Folks are buying property...