Average Home Price in Bozeman Nearing $800,000
The amount of money to buy a home in and around Bozeman is becoming absolutely mind-blowing and there is no end in sight.
If you are planning on buying a single-family home anytime you might have to be a millionaire. According to the Gallatin Association of Realtor's website, the average median sales price of a home in Bozeman for August 2021 is $769,000. That's absolutely outrageous. The median sales price of a condo or townhome is $436,000.
To make you even more blown away, that's a 31.6% rise in change from August 2020. Also, that's just the median sales price, they are average selling at almost $808,000. Prices for the Bozeman homes have been drastically rising over the past five years and during the COVID-19 pandemic when folks were escaping bigger cities, came to Bozeman and inflated the prices even more.
This has caused a mass exodus of locals and young adults out of Bozeman because they simply can't afford to live in Bozeman anymore. Owning a home has become a far-away thought and it's pretty heartbreaking. The thing is if you think "Oh I will just be outside of Bozeman city limits" but I have bad news, the prices of homes outside of Bozeman city limits are even worse.
The median sales price is $815,000 and the average sales price is over 1.1 million dollars! That's truly eye-opening about the insane real estate market in our area.
Do I plan on buying a home anytime soon? Nope. That prices for a house, townhome, or condo has become unreasonable and I don't know what will happen next. We will have to keep our eye on it.
For more details, check out the Gallatin Association of Realtors.