Big Drop In Average Sales Prices 2007 to 2009 in Bozeman Homes, Condos, Town Homes
In order to calculate an accurate representation of data* for the city of Bozeman real estate sales prices, Bozeman will be considered as these four parts of the multi-part "Southwest Montana MLS - Multiple Listing Service": areas South of Main Street (1SW), South of Kagy Boulevard(1SK), North West of Bozeman (1NW), and North East of Bozeman (1NE).
Based upon these parameters, somewhat of a "perimeter of Bozeman," for year 2009 the average sales price for homes in Bozeman was $275,668; in 2008 the average was $325,619; in 2007, $338,168, all of which results in an 18.5% average home sales price decrease from January 2007 to December 2009.
Regarding Bozeman condo and townhouse average sales prices for this same three-year period: in 2009 the average sales price for condominiums and town houses was $196,912; in 2008 the average sales price was $215,730; and in 2007, $235,037, a three-year decline of 16.2%.
The data speak loud and clear: Bozeman real estate prices have consistently declined in the past three years and more foreclosures and short-sales are on the horizon. Will this downward trend continue or will we see some stabilization and reversal?
|
Year |
Type |
Units Sold |
Average Sales Price |
Average DOM |
|
2007 |
Homes |
320 |
$338,168 |
79 |
|
2007 |
Condos - Townhomes |
416 |
$235,037 |
78 |
|
2008 |
Homes |
293 |
$325,619 |
97 |
|
2008 |
Condos - Townhomes |
236 |
$225,543 |
113 |
|
2009 |
Homes |
285 |
$275,668 |
116 |
|
2009 |
Condos - Townhomes |
174 |
$196,912 |
139 |
Taunya Fagan Prudential Montana Real Estate,
giving you the advantage...
* errors and/or omissions are possible.
