Three Forks Listings: Homes, Land, Farms, Ranches, Commercial Property
Entering Q2 2024, Three Forks Real Estate Prices ⇓
| MONTH | THREE FORKS | BOZEMAN |
| Q1 2024 | $310,500 | $735,000 |
| Q4 2023 | $324,000 | $700,000 |
| Q3 2023 | $310,000 | $801,000 |
| Q2 2023 | $300,000 | $725,000 |
| Q1 2023 | $389,000 | $692,500 |
Q1 2024: Three Forks Home Price, $442,500 vs Bozeman Home Price, $749,000
Entering Q2, 2024: The median price for all types of Three Forks, MT real estate is $310,500, which is ⇓ $78,500 or ⇓ 25.3% less than Q1 2023’s price of $389,000.
Chart 1: The median home price in Three Forks for Q1 2024 is $442,500; the Q1, 2023 price was $507,856. This is a ⇓ $65,356 or ⇓ 14.8% from Q1 2023 to Q1 2024.!
Three Forks, MT Population is ~2800 – Near The Missouri River Headwaters – Elevation 4,081′ – 33 Miles West of Bozeman
The Three Forks, MT real estate and housing forecast calls for flattening prices in 2024.
Three Forks’ home prices make the cost of a Three Forks home an alternative to the high price of a Bozeman home.
Historical Trends in Three Forks Real Estate (homes, condos, townhomes)
Three Forks’ real estate prices have been trending upward since 2014.
Three Forks’ real estate cost $217,200 in Q2, 2015; $249,900 in Q2, 2017; $330,000 in Q2, 2019; $340,000 in Q2 2020; $490,250 in Q2, 2021; $604,500 in Q2 2022; and $538,000 in Q2 2023…Q2 2024 TBD.
The median price of Three Forks real estate has increased ⇑ $320,800 or ⇑ 59.6% in the last 11 years–since Q2 2013.
Days on Market, Three Forks, Montana Real Estate: Homes
Chart 2: Three Forks’ days on market (DOM) is 76 days. Last quarter it was 402 days!
This is similar to Bozeman’s trend, where DOM is down to 17 days; last quarter it was 46 days.
Snapshot: Since 2014, Three Forks’ days on market has been declining for the most part.
In 2014, Three Forks’ days on market was 90 for the year and Bozeman’s, 50.
Number of days on market for Three Forks and Bozeman are declining as usual for spring.
Presently, there are 13 homes for sale in Three Forks, Montana, lowest number of homes for sale in 2023.
There are 232 homes for sale in Bozeman.
Economically, Three Forks relies on farming and ranching, construction services, tourism, service industries, hunting, and fishing.
Fort Three Forks, Montana was established in 1810 by several mountain men from the Missouri Fur Company.
Three Forks is also at the head of the Missouri River, created by the confluence of the Madison, Jefferson, and Gallatin Rivers.
In 1862, the Gallatin Town Company laid out Gallatin City on the Missouri’s west side, at the Gallatin River’s mouth, one of three rivers that form the Missouri River.
A few years later, a new city, named Gallatin City II, was established on the Missouri’s east side where the majority of Missouri river traffic was.
Today’s Three Forks is a few miles south of both Gallatin cities and was established on the original site of James Shedd’s Madison House, built in 1881.
The 1910 Sacajawea Hotel (aka, Madison Bridge House), contains a part of the original Madison House.
