News from the Knoff Group

Bozeman, Belgrade, Big Sky – Quarter III 2013 Market Watch

The markets in Bozeman and surround, Belgrade and Big Sky all posted interesting numbers as Quarter 3 wrapped up.

Comparing quarter to quarter between years shows an informative cross-section of how the market is performing versus this same time last year.

The market in Bozeman has been plugging right along – median sales price is up year to date (YTD) 11% for single family homes and 10% for condos and townhomes over 2012.  The market in  Belgrade, which has been undervalued for several years, is bouncing back quickly – median sale prices YTD are up almost 12 % for single family homes and  a whopping 29% for condos and townhomes over 2012.  Big Sky is showing a good reduction in inventory, especially at $400K and below for condos and homes under $800K.  Number of units is up across the board in Big Sky – though single family homes is lagging in median sale price compared to last year.  With one quarter left to go, it looks like nothing but up up up as the trend in these markets.