2025 Mid-Year Market Update

Happy Summer! I hope you’re enjoying this beautiful time of year. It’s hard to believe it’s almost August, but here we are. With all the fun summer activities and a busy market, this email is a little late but hopefully still interesting. Let’s take a look at what’s happened the first half of the year in Gallatin County.

We’ve felt a bit of a shift in the market the past few months. As you can see from above we have higher levels of inventory and a softening of prices. We’re headed into a more balanced market with the Months Supply of Inventory at 4.76 for all residential property types in Gallatin County. The market is still active, we just have inventory coming on the market a little faster than it’s selling.

Compared to this time last year, the median sales price is down over 7% overall. For single family homes in Bozeman City Limits this is actually down over 12% to $715,000. For all property types in the Greater Bozeman area it’s down 5% to $1,076,000. Interestingly the median sales price is up 5.4% in Belgrade, to $569,000. I’ve commented on this before but it’s likely due to the high level of new construction being sold in that area.

I’m personally curious to see what happens the rest of the year. Interest rates are not expected to come down significantly and as of June 30 our inventory was up almost 11% from this time last year. If you have any questions or a crystal ball handy, don’t hesitate to reach out!