Bozeman real estate and the housing crisis

Posted by Bonnie Martin Designated Broker on Tuesday, July 16th, 2013 at 10:08pm.

bozeman_city_of_bozeman_468For her contributions to the following transcript of a conversation this week, I need to thank Bonnie Martin, broker/owner of Heart of Montana Realty in downtown Bozeman, for giving us her honest best during this interview—no questions unanswered, full candor, no retractions. 

TBM: We’ve heard a few rumors… but why don’t you paint a clear picture of Bozeman’s real estate market right now?

Bonnie: In the downtown area, it’s still very similar to 2006. A lot of people have discovered Bozeman as an ideal place to live. It’s the feel of that—the beauty, the college, great schools, mountains, and the walking distance, the simple lifestyle.

But what about the real estate market? I’m hearing it’s crazy-silly out there.

Bonnie: Bozeman has always been one-and-a-half years behind the national market. Using the current California marketplace—which is strong—as an indicator, we anticipate that this fall and next spring… if you think it’s busy now, it’s gonna get real busy. Inventory is very limited; in fact, there’s basically no inventory. Here’s one example: we listed a house on Friday, 11 showings over the weekend, 11 more today. The owners are cutting it off at 5 p.m.

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