Q3 Market Update

Welcome to Fall in Montana! We have been so fortunate to have lingering summer temps into this season as the colors have changed. It’s definitely one of the most beautiful falls that I can remember.

What’s the market been doing? Well it’s certainly been interesting. We continue to see increased inventory across all locations and property types. In Bozeman City limits inventory was up almost 23% from this time last year. In Belgrade it’s up 122.% to 120 properties and in Big Sky it’s up 37% to 116 properties. This has been wonderful for buyers as there tends to be more options in their price point and often means more negotiation power.

Homes do continue to sell, and at a median of 97.4% of asking price, but homes are typically spending more time on the market. Days on Market is over one month currently at 36 days. This is actually down from this time last year but still significantly up from where we saw it for 2+ years during pandemic era purchasing. I anticipate this type of timeline to become the “new normal.”

Single family homes listed over $1,00,000 are taking longer to sell than those below; they have over 6 months of inventory which is heading towards a buyers’ market for this segment. Luxury condos are also in what I would consider a buyer’s market with over 10 months of inventory of condos/townhomes listed above $900,000.



Overall thoughts? Strong marketing as a seller is more important than ever and buyers shouldn’t wait to purchase if they’re on the fence. Want to talk more about either of these statements or the market in general? Don’t hesitate to reach out!