Bozeman Luxury Real Estate Listings (over $1M) – Homes, Condos, Townhouses
Just Luxury Homes? or Luxury Condos & Townhomes?
In Q4 2024: Bozeman luxury real estate (over $1,000,000): median price is $1,455,000, which is down ⇓ $43,350 or ⇓ 3% from Q2 2024’s $1,498,350.
Looking at Bozeman’s luxury prices by quarters:
Though quarterly price points show fluctuations in prices, 2024 prices are flat.
From Q3 2023 to Q3 2024, median sales price for luxury properties (homes, condos, townhouses over $1,000,000) is up, ⇑ $43,000 or ⇑ 3%, moving from $1,412,000 to $1,455,000.
The 2024 forecast for Bozeman luxury real estate–inside and outside the city–called for a warm market with continued price advances.
Twenty twenty-four is shaping up to be a year of stable prices overall.
In addition, the forecast called for an increase in the number of luxury properties for sale.
This prediction has come true, as sales in 2024 have risen from 112 in January 2024 to 218 in August. In Q3 2024 there are 310 luxury properties for sale.
Since Q4 2021’s, luxury listing numbers have been steadily rising, moving from 69 to Q3 2024’s 310 properties for sale.
2022 – 2023 Luxury Residential Focus
Chart 1: From Q1, 2022 to Q1 2023, the sales price for luxury residential inside Bozeman dropped from $1,299,900 to $1,265,000. Outside city limits, price rose from $1,600,000 to $1,705,000.
Median sales price for all Bozeman luxury residential was $1,255,000 at the end of Q1 2023, down just ⇓ $9,994 or ⇓ .7% from Q1 2022’s $1,459,994.
In the last 24 months, median sales prices for luxury residential outside Bozeman have decreased from $1,399,000 to $1,285,000, ⇓ $114,000 or ⇓ 8.1%.
In the last 8 quarters, inside the city price has dropped from $1,650,000 to $1,572,500, ⇓ $77,000 or ⇓ 4.7%.
Chart 2: Q2, 2023 new listing numbers for luxury residential listings had been declining.
Today there are 240 new listings of luxury properties for sale in Bozeman, a record number.
Looking back at the Bozeman luxury homes market: Median price for luxury homes.
During the area’s record year inside the city in 2021, median luxury prices rose ⇑ $56,000. Beyond city limits, median prices increased ⇑ $69,000.
Summarizing 2020: inside the city, median luxury prices increased ⇑ $14,700, outside Bozeman, median prices increased ⇑ $73,250.
In 2019 inside Bozeman, median luxury sales price declined ⇓ $90,000. Also, in 2019, median sale price outside Bozeman began the year around $950,000 but finished down ⇓ $35,000 at $915,000 in December.
For 2018 inside Bozeman, median sales prices increased ⇑ $40,000. Outside city limits, prices increased ⇑ $50,000 in 2018.
During 2017, median sales price for Bozeman luxury real estate saw a strong price increase, ⇑ $51,000, inside the city and a simultaneous strong decrease of ⇓ $90,000 outside the city.
