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News from the Knoff Group

Market update: Q3 2018 statistics and commentary

Overall trends – Quarter 3 2018 as compared to previous year.

Single Family
Higher median sales price – increases between 9-20+%
Fewer properties selling for more money
Days on market are up as prices climb
City of Bozeman $442K!, Outside city limits $575K, Belgrade $322K, Manhattan $392K, Big Sky $1.5M Livingston $275K.
Sales volume is showing fewer property sales
Exception is City of Bozeman – # properties sold is up 13%

Single Family Comparsion Chart Q32018The alt text for this image is the same as the title. In most cases, that means that the alt attribute has been automatically provided from the image file name.

Condo Townhome
Highest competition outside of Bozeman city limits – more properties selling in this catetory – most affordable product. Seeing appreciation in some areas topping 30% year over year. Has cooled slightly in Bozeman.
Condo Townhome Comparison Chart Q3 2018The alt text for this image is the same as the title. In most cases, that means that the alt attribute has been automatically provided from the image file name.

Land
Days on market up across board
Median sales price is up between 20-55%. Exception Big Sky which has dropped slightly.
More properties have sold towards the bottom of the market – less affordable land options now.
Land Comparison Chart Q3 2018The alt text for this image is the same as the title. In most cases, that means that the alt attribute has been automatically provided from the image file name.

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