Market Conditions in Bozeman>Question Details

markandhills, Other/Just Looking in Bozeman, MT

Lots in Bozeman and Cost per Square Foot

Asked by markandhills, Bozeman, MT Sun Aug 3, 2008

I've heard conflicting opinions on whether or not lots in Bozeman are dropping or gaining in price. What do the professionals think? Is there further room to fall, and how are lot prices related to building costs? I realize that cost per square foot is largely related to quality of finishes inside, but how much generally speaking is it these days in Bozeman to get the basic work done? Thanks

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Bryce Sullivan’s answer
According to the Gallatin Association of Realtors latest market report, lot prices in Bozeman have come down. Whether or not this will continue, only time will tell. The relation of a lot price to building cost is that usually the price of the lot is a major factor in determining the building cost of the home, or the value of the home on lot. You have to consider the land to home ratio. Price per square foot in Bozeman starts around $150. Of course it depends on the finishes you choose. Also, there is somewhat of a difference in what builders include in their price per square foot.

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