header_local_market
   
Bozeman/Belgrade Housing Information
Single and Multi-Family Units
2006                 670
2005                 954
2004                 881
2003                 612
2002                 526
2001                 422
2000                 415
 
Average Cost of Housing
 
Average Sales Price in 2006 - Based on 3 bedroom/2 Bath
Bozeman        $259,130
Belgrade         $194,247
 
Suburban Less than 1 Acre:
Bozeman        $284,274
Belgrade         $214,035
 
Suburban Over 1 Acre:
Bozeman        $445,244
Belgrade         $413,264
Souce: Gallatin Assoc. of Realtors
 
Average Rental Prices
Apartments
1 Bedroom     $520-$690
2 Bedroom     $600-$895
3 Bedroom     $675-$950
 
Studios
1 room          $375
 
Houses
2 Bedroom     $650-$1300
3 Bedroom     $700-$1700
Souce: Alliance Property Management (March 2007)
 
New Construction Valuation
2006          $192.7 Million
2005          $199.0 Million
2004          $144.2 Million
2003          $133.1 Million
2002          $85.8 Million
2001          $78.9 Million
2000          $81.2 Million
Source: City of Bozeman Building Division
 
Montana's Gallatin Valley
has long been a paradise for vacationers and residents alike.  The region boasts world class skiing, fishing, hunting and unparalleled natural beauty.  The mountains, rivers, and views that have long beckoned the souls of all, have convinced many to visit and many to stay.

As the appeal has spread, the popularity has grown.  Shopping, fine dining and the recreational/cultural opportunities have all contributed to the surging demand to have that “piece of Heaven” on Earth.  Factor in the ease of travel by either air or car, as well as the benefits of in town Montana State University, with more moderate winters than you imagine (they’d have to be), and you start to get a sense why more and more people call this valley their destination.

With the popularity and resulting growth, has come a sustained “boom” in the region’s real estate market.  Yet, in comparison to other similar resort areas, and regions on either coast, the pricing remains quite competitive, and in certain instances, even inexpensive.  The major metropolitan areas surrounding N.Y.C., Washington, Chicago, Los Angeles, etc., have real estate pricing far more expensive.  Resort regions, be they as similar as the western gems Jackson Hole, Telluride, Aspen, Sun Valley, Lake Tahoe, and others, or the coastal areas of the Hamptons, Chesapeake Bay, Cape Cod, La Jolla, South Beach, Boca Grande, etc., are far more expensive with far more congestion and every day problems.

The Gallatin Valley’s expansion has come at a time that affords the opportunity to take note of what has worked well in other locales and to learn from the problems that came with certain choices.  Zoning is strict and many voluntary easement programs have become quite popular.  This, in part, has contributed to the already present appreciation of real estate values, but, more importantly paves the way for continued demand for the limited supply, and the resulting rise in prices.  There is every reason to believe that the future will be even brighter.  From the investor perspective, it appears the following is a constant: If you can find an area that attracts out-of-town buyers for upscale recreational activity and combine it with a limited supply of available properties, you are almost assured of amazing appreciation, cycle after cycle.

So please visit, explore and experience Big Sky Country.  You will quickly understand why this area is consistently included in lists of wonderful places to live.

HMR-local-marketpic

Site Map
Site by Bluetent Marketing
Site powered by Intrcomm Technology's SMC