What an incredible summer it’s been in the Gallatin Valley. A plentiful number of late summer showers kept things green and beautiful. But the cool nights and crisp air demonstrate that fall is here. Let us take a quick look at the market and at some fall maintenance items.
For homeowners, fall is a great time to look around and take care of any needed maintenance items before winter comes. Furnaces, boilers, and heating systems should have regular maintenance including changing filters to insure they’re operating at peak efficiency. Fireplaces & wood stoves should also be maintained to insure they are operating safely. Having the chimney swept is an inexpensive way to prevent fires.
Perhaps more important than leaf clean up in the yard is leaf clean up in the gutters. As snow melts off the roof, clogged gutters can lead to ice dams among other problems. Giving water a clear path out and away from the home is crucial.
One of the most important items is to drain and disconnect exterior hoses from the hose bib or faucet to prevent freezing pipes. If you own a rental property, it’s a good idea to remind your tenants to do the same. Underground irrigation systems will have to be winterized as well, usually by a professional with a large air compressor.
Replacing worn or missing caulking around windows and doors is one of the least expensive maintenance items and can prevent many future issues including moisture infiltration and heat loss.
Fall is in the air, and with a few hours on a weekend, you can insure your home is ready for the changing seasons. As for the Real Estate market, a quick look at the numbers shows that this year has been fairly similar to last year. The overall number of sales is essentially level, with 483 sales this year versus 481 sales in the first 8 months of last year. Pricing is up ever so slightly. Back in July, when we looked at the first half of this year versus the first half of last year, it seemed like pricing might be starting to come down. However, median sold pricing is now up slightly with a 2.2% increase over this same time last year.
In addition to the 483 homes sold during this time period, another 93 home sales are currently pending, or under contract, as of the date of writing this article. Similar to the overall number of sales year to date, this number is very close to last year when 92 homes were pending at this time.
2023 Real Estate Market Data
January 1st through September 1st, 2023
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Total Sales – Bozeman | 690 | 738 | 637 | 481 | 483 |
| Median Sales Price | $494,950 | $560,000 | $730,000 | $885,000 | $904,900 |
| Average Sales Price | $592,876 | $690,294 | $941,892 | $1,168,489 | $1,085,944 |
| Average DOM | 79 | 57 | 19 | 20 | 44 |
| Median Days on Market | 21 | 19 | 5 | 5 | 17 |
Total Sales – Bozeman
January 1st through Sept 1st
| Year | # Homes Sold |
| 2004 | 507 |
| 2005 | 563 |
| 2006 | 474 |
| 2007 | 400 |
| 2008 | 372 |
| 2009 | 280 |
| 2010 | 369 |
| 2011 | 387 |
| 2012 | 476 |
| 2013 | 575 |
| 2014 | 599 |
| 2015 | 693 |
| 2016 | 723 |
| 2017 | 677 |
| 2018 | 689 |
| 2019 | 690 |
| 2020 | 738 |
| 2021 | 637 |
| 2022 | 481 |
| 2023 | 483 |
The included data reflects sales of homes in the greater Bozeman area, including Four Corners, Gallatin Gateway, Bridger Canyon, and Bozeman city limits. The data includes home sales reported through the local Big Sky Country MLS, and does not include private party sales, Condominiums, or Townhouses.
By Tim Ford – Real Estate Broker
