Spring is here! Sort of…Some Bozeman residents are taking to the rivers and golf courses, while others are still getting some turns in on the ski – slopes. The weather is as volatile as ever, but sunny days are ahead. In the world of Real Estate, sales are starting to show momentum.

More buyers are starting to find themselves in multiple offer situations as they compete for the good buys that are popping up in the market. I have also seen multiple cases of homes that sat on the market all of last summer, were taken off the market for the winter, and then went under contract quickly when placed back on the market this spring. If you are trying to sell and are not getting much action, its time to take a close examination of properties competing against yours to make sure your home is priced competitively.

As shown in the data below, homes priced below $250,000 have made up slightly more than half of the home sales in the Bozeman area. This coincides with national data that shows that home sales nationwide are split evenly between first time home buyers and repeat buyers. The large percentage of first time home buyers is good for the entire market. As first time home buyers scoop up inventory of previously occupied homes, it allows those home sellers to move up in price range and buy another home.

The data below reflects sales of homes in the greater Bozeman area, including Four Corners, Gallatin Gateway, Bridger Canyon, and Bozeman city limits. It includes sales of single family homes and does not include townhomes or condominiums. The data includes home sales reported through the local Southwest Montana MLS, and does not include private party sales.

Tim Ford is a Realtor® with Vellinga Real Estate. He can be reached by phone at 406-209-1214, email at timothyjford@gmail.com, or online at www.bozemanhouseandhome.com