In terms of supply and demand, the Bozeman real estate market is heating up and because more supply is coming on the market relative to the sales demand it appears to be cooling, but buyers are out!
In recent weeks Bozeman home prices have been increasing. Since it is technically a Buyer's market, this price trend may be a result of improved quality (newer, larger homes) of the homes being listed. Look at the descriptive statistics where you may notice the homes being listed are larger and younger than they have been in the past.
While this week Bozeman Montana median home prices didn't fluctuate much, prices continue to sit at all time highs. A persistent drop of the Market Action Index into the Buyer's zone will be a leading indicator of the Bozeman homes price strength subsiding.
The Market Action Index answers the question "How's the Market?" by measuring the current rate of Bozeman sales versus the amount of the homes inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the Buyer.
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