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Market Conditions in Bozeman : Real Estate Advice

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  • Local Info9
  • Home Buying24
  • Home Selling4
  • Market Conditions7

Activity 8
Tue Apr 8, 2014
PollyAnna Snyder answered:
Sarah - are you looking for properties around MSU? If so, you can find a weekly list of properties within close proximity to campus via the follow - http://bit.ly/MSUrealestate - or just give us a call and we'd be happy to help you out and/or answer any questions.

Best Regards,

Montana 406 Real Estate
support@montana406.com
406.556.5017
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Tue Jan 28, 2014
Jim Applebee answered:
Hi Rosanna,

As many of the other brokers have stated, it is very difficult to give an average price per square foot value. It is much easier to give that statistic if you have a specific neighborhood, home type, and age of home. Then you would probably get a fairly accurate answer quickly. Best of luck and please reply with any questions.

Thanks,
Jim Applebee
Coldwell Banker RCI Realty
406-579-0839
jim.applebee@coldwellbanker.com
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Wed Nov 7, 2012
Erin Mandeville answered:
Ben,

It is really wise of you to ask about Bozeman specifically, as we know all real estate markets are local. 2009 was the worst year our market had seen since the 80's and since then our market has been rebuilding. Remember, Bozeman's "worst market" is still significantly better than the troubles other markets experienced thanks to our quality of life and strong community.

Believe it or not, Bozeman's market is becoming a "Seller's market" in some market segments. (A "seller's market" is defined by a market with less than three months of inventory.) If you are looking to buy for $250,000 or less in today's market, you best move quickly. Currently that demographic has less than two months worth of inventory on the market. If you want to sell in that price point, this is a great time to bring your home to the market! In fact, you have a nearly 60% chance of selling your home in 30 days or less in this if it is offered correctly in the market at or below $250,000.

Between $251,000-$300,000 we have a three month supply of inventory defining this again, as a "Seller's market". $301,000-$450,000 we have less than 5 months worth of inventory, defining this segment as a Buyer's market. If you are looking to buy over $500,000 you can breath a bit easier as the market has not yet tipped to be anywhere near as competitive. As a Buyer you still stand the chance of picking up a great deal.

Hopefully this helps you understand our current market conditions a bit better. If you are ready to make a move, I would love the opportunity to help you.

Cheers,

Erin Mandeville, REALTOR®
Prudential Montana Real Estate
*Market statistics are current to Wednesday, November 7, 2012
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Mon Aug 16, 2010
Patk asked:
Thu Sep 3, 2009
Matthew Boone answered:
Having just spent two days in strategic planning meetings for the Gallatin Association of Realtors with the President elect of the National Association of Realtors as facilitator I can say that the general consensus is that values here have trended down somewhat, maybe as much as 15 percent. However, it appears that traffic has picked up, consumer confidence is improving and interest rates are at historic lows.

Regards,

Matthew Boone
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Mon Jul 27, 2009
Resop Brokers answered:
The market in Bozeman has seen prices at a gradual decline of about a percent a month. This com paired to other cities and states is much less of a slip in value. Montana, especially Bozeman is not losing its appeal and beauty. Bozeman will always be a very desireable place to live no matter what the economy determines for us. with a real estate investment in Bozeman, you can enjoy the pure beauty of what we have to offer in Bozeman while you live in a great priced investment in the Gallatin Valley while the economy does what it will, with assurance that all markets recover and though we are in a down economy it is all part of the business cycle. For any further information please call me or check out our website! www.patrickresop.com

Ryan Resop
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Sun Aug 3, 2008
Bryce Sullivan answered:
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.

Email me @ BryceSullivan@Windermere.com if I can help you out with anything else.

Best of everything!
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