Your Bozeman Real Estate Market Report - March 2017
Bozeman Real Estate Market
Here is a brief overview of some key components of the current Bozeman Real Estate Market. Check more in-depth reports at Bozeman Montana Single Family Homes Market Report and Bozeman Montana Condo Market Report. Have questions about translating data into information YOU can use? Give us a call! One of our agents would be happy to answer your questions. 406.556.7188
Bozeman Montana Single Family Homes
Currently there are 144 sales pending in the market, overall, leaving 228 listings still for sale. This creates a Pending Ratio of 38.7%. The pending ratio indicates the supply and demand of the market. As a whole, this ratio indicates that there are not enough qualified buyers for the existing supply. Let's take a close look, though. Here's the break-down per price range:
A high pending ratio means that listings are in demand and quickly going to contract. A low pending ratio means there are not enough qualified buyers for the existing supply. As you can see, in the above chart, the highest pending ratio falls in the $200,000 to $399,999 segment meaning there is a high demand for listings which fall within this price range. See a full report HERE.
Bozeman Montana Condos
Currently there are 82 sales pending in the market, overall, leaving 46 listings still for sale. The resulting pending ratio is 64.1%. This indicates that Bozeman Condos are in high demand. Here's a closer look:
Analysis of sold properties for the last six months shows a median sold price of $270,000 and 24 days on market. The more recent history (the last 30 days) shows a median sold price of $245,775 and 12 days on market. The significant drop of days on market indicates high demand and the Bozeman Area Condo Market is a currently referred to as a Seller's Market.
To see the full report click HERE.