Bozeman Homes demand measured by the Market Action Index is increasing and days-on-market is trending downward. Even as more Bozeman, Montana properties come available, these are positive trends for the SW Montana real estate market.
Sales of Bozeman homes have been exceeding new inventory for several weeks. While still a Buyer's market, Bozeman home prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a Seller's Market.
Average Days On Market (DOM): 147 = DOWN
Median Home Size: 2950± sf
Percent of Market With Price Reduction: 53%
Average Price/Square Foot: $163/sf
While the Week 1, May 2013 real estate report indicates the median Bozeman home price didn't fluctuate much, we are relatively close to the Bozeman market's price high-point. A persistent drop of the Market Action Index into the Buyer's zone will be a leading indicator of the price strength subsiding.
The median list price for homes for sale in BOZEMAN, MT this week is $509,000.
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