Q2 2024 Bozeman Luxury Market Report (Over $1,000,000 – Homes, Condos, Townhomes)
Luxury Prices, Pending Sales, Inventory
| Q | MEDIAN PRICE | PENDING SALES |
| Q2 2024 | $1,498,350 | 86 |
| Q1 2024 | $1,465,250 | 84 |
| Q4 2023 | $1,360,000 | 53 |
| Q3 2023 | $1,412,000 | 99 |
| Q2 2023 | $1,317,500 | 100 |
Taunya Fagan Bozeman Luxury Market Review – Price Trends, Sales Numbers, Inventory
Chart 1: Well into Q3 2024, the price trend in the Bozeman’s luxury real estate market is ⇑ $180,850 or ⇑ 13.7% over the same quarter in 2023.
Bozeman’s median high price inside and outside the city for 2023 was $1,450,000 in Q1 2023.
Prices in Bozeman’s luxury markets: “inside the city” and “outside the city” have been rising and falling for a number of years, but the trend has been upward since Q2 2023.
Inside the city of Bozeman, the median price high was $1,265,000 in Q3 2023.
(The all-time record median home price was outside Bozeman’s city limits in Q3 2014 and Q2 2021.)
Outside Bozeman, the 2023 high came in at $1,705,000 in Q1 2023.
RECORD number of properties for sale in Bozeman’s luxury market, Q2 2024:
Chart 2: The number of luxury properties for sale in all Bozeman has been dropping since mid-2023 when there were 182 luxury properties for sale.
In Q2 2024 there were 280 properties for sale in Bozeman.
Inside the city of Bozeman, the number of luxury properties is 102, a record.
Inside Bozeman’s city limits, prior to this quarter, the record high number of luxury properties for sale in the last decade was 90 in Q3 2023.
Presently, outside Bozeman, there are 178 (also a record) luxury properties for sale.
Outside Bozeman’s city limits, prior to this quarter, the record high number of luxury properties for sale in the last decade was 167 in Q3 2023.
In Q2 2023, there were 246 luxury properties for sale in all of Bozeman, MT.
Pending sales in Bozeman’s luxury market:
Chart 3: The number of pendings in all of Bozeman’s luxury markets began increasing in Q4 2019, a bit prior to Covid hitting the streets of Bozeman.
At that time, there were 11 pending listings in all of Bozeman.
Today, in Q2 2024, there are a 86 pending luxury sales in all of Bozeman.
At the inception of Covid in Q2 2020, when there were 33 pending.
Inside Bozeman there are 26 pendings.
And outside the city there are 60 luxury pendings.
SUMMARY: In Bozeman, luxury prices are decreasing inside and increasing outside Bozeman.
