Bozeman’s Real Estate Market Report | 3rd Quarter 2016
(Read the full Bozeman Real Estate Market Report in flip below or download as a PDF.)
The end of summer and beginning of fall is always a busy and exciting time in Bozeman for real estate, and as September draws to a close, it is obvious that lower price point properties continue to drive the market. 197 homes priced $500,000 and above have closed to date in 2016, compared to 185 units at this time in 2015. This represents a 6% increase, with homes priced between $500,000 and $750,000 posting a 21% increase in sales from figures last year at this time.
“Third quarter 2016 has picked up momentum from the 2nd quarter 2016, with a 68% jump in closings, from 117 transactions by June 30th, and 197 closings today.”
Total volume of sales for the year stands at $147,108,663, which marks an 8.7% increase over the $135,228,706 volume reported at the conclusion of the 3rd quarter 2015. Homes are averaging a whooping 96% of their list price and 109 Days on Market (DOM). Homes in the $500,000 to $750,000 bracket are averaging 98% of their asking price and only 92 DOM.