Single family home sales accelerated throughout our area in 2020 – fueled by the Covid-19 pandemic and people moving from more populated areas and areas affected by fire and civil unrest.

Single family home sales were very strong in Q3 2020 as buyers competed for limited inventory – however, there are some finer nuances in our market that are very interesting.

Single family home sales have seen marked price appreciation between Q2 2019 to Q2 2020. The majority of this appreciation was in the pre-COVID-19 period, with a robust 2019 and early 2020 push and then a drop to end of 2019 values.

Prior to mid-March 2020, the southwestern Montana real estate market was cruising. Year over year quarter 1 median sales prices were up, listings sold for the most part were up, days on market for the most part were down.

The market in Quarter 4 2019 continued the theme of growth in most sectors and areas of the market. Single family home sales saw median sales price jumps of 4% in City of Bozeman and 13% in City of Belgrade Y/Y – with 8% in greater Bozeman and Livingston City Limits

Quarter 4 2017 was the busiest of the past three years, with increases in median sales price in almost all segments and areas.

Quarter 3 2017 showed continued median sales price acceleration across almost all areas with the exception of Big Sky. Median prices were up year over year between 9% (Livingston/City of Bozeman) and 20% (Three Forks).