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Market Statistics
Market Statistics
Knoff Group Real Estate offers unparalleled expertise in navigating the southwest Montana real estate market. We pride ourselves on our meticulous approach to tracking real estate statistics and our comprehensive understanding of our markets that we serve. This dedication allows us to provide our clients with data-driven insights, empowering them to make informed decisions whether they are buying or selling property in the dynamic Bozeman area. With a deep understanding of local trends and a commitment to staying ahead of market shifts, the Knoff Group is your trusted partner for achieving your real estate goals. Please see our most recent market updates with detailed information below.
Q1 2024 Y/Y REAL ESTATE MARKET
ANALYSIS & STATISTICS
The real estate market in the greater Bozeman, Big Sky, Belgrade and Livingston areas remained active in Q4 2024 year over year – though inventory has continued to build across all most areas.
Median sale prices stayed relatively flat throughout the area in Q4 2024, with pricing overall keeping within range of pricing in 2023 and 2022. Value stayed relatively constant.
List to sales price ratios in Q4 2024 show some discounting in all areas of the market. These discounts are indicative of a more balanced market leaning towards more of a buyer’s market in some areas. Discounting has been influenced by a combination of forces, from market and political uncertainty to interest rates and speculation on direction of interest rates as well as overpricing of properties – still influenced by the previous pricing momentum from the pandemic that has now subsided.
Read more about Q4 2024 Statistics
Comparing year over year 2024 to 2023 and then again to 2022, median sales prices have remained either static or have experienced modest appreciation over 2023 and when compared to 2022, values have stayed relatively flat or in some cases, dropped.
Number of units sold in 2024 were steady in most areas – falling in line with 2022 sales more than 2023 sales – likely due to buyers becoming more accepting of the rate climate and sellers willing to negotiate on pricing a bit more. Number of listings sold were flat in City of Bozeman, were flat in greater Bozeman, were flat in Belgrade, were down slightly in Manhattan, were up to 2022 levels in Big Sky and Livingston.
Quarterly and Annual Market Reports
PARADISE VALLEY
