There are currently 635 listings on the market. Of these,  almost 40% are priced under $300k and almost two thirds are under $500k. The average listing price is $365k and the median price is $359k. Time on market of the current listing inventory is 165 days.

 

Current Activity - Most of the activity for single family residences is in the $300k and under market. Sales volume during the first quarter of 2010 at $22 million is unchanged from the first quarter of last year on slightly less volume (61 properties this year versus 67 last year). The average home sales price is up 12% between years while the median price of $285k is up only 6% indicating higher activity in the higher price ranges.

 

For the 12 months ending March 31, 2010, sales volume is estimated at 480 which is virtually unchanged from the previous 12 months. Average price however is down 14% between years averaging $341 over the past 12 months (median of $275k for the past 12 months).

 

There are currently 635 listings in the Bozeman and surrounding area with a median price of $359k.

 

Perspective – Sales volume peaked in 2005 at 816 homes at an average sales price of $361k. Average price peaked the following year in 2006 at $432k on a volume of 650 units. The current run rate of 480 units per year is down about 40% from the peak and average selling price is down roughly 23% from peak.

 

Over the past seven years, sales price has averaged $360k on volume of 639 units per year. Sales volume over the past three years has averaged 506 per year, 20% below the seven year average.

 

Seasonality –