Taunya Fagan Bozeman Real Estate Blog: SW Montana Homes: MLS Listings

Bozeman Real Estate Prices Double Digit Decline 2007 to 2009

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,

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* errors and/or omissions are possible.

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0 commentsTaunya Fagan • February 10 2010 11:07AM
Bozeman Real Estate Prices Double Digit Decline 2007 to 2009
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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… more