I usually focus my article on the Real Estate market in Bozeman. This month, I have included data for Bozeman sales, but I would like to take a look at how things are faring in Belgrade.

The market in Belgrade has followed Bozeman in its upward trend throughout the past few months. While foreclosures, short sales, and distressed sales still hold a share of their market; that too is improving.

In Belgrade and the surrounding area including sales of single family homes on both less than and greater than 1 acre; 133 homes sold between January 1 and September 1 of 2012. During the same time period of 2013, 155 homes sold, marking a 17 % increase.

The average sold price for the same time period of 2012 was $199,025, which rose to $231,596 in 2013. The median sold price in 2012 was $175,250, which also rose in 2013 to $191,000. The average days on market in 2012 was 74. That number dropped to 61 days in 2013.

These improvements are all despite a market that is feeling the affects of foreclosures and distressed sales more than Bozeman is. In 2013, of the 155 homes sold in Belgrade, 16 were foreclosures or REO properties and 14 were short sales, making up a 19% market share. This is an improvement over 2012 when of the 133 homes sold, 41 were foreclosures or REO properties and 15 were short sales, making up a 44% market share. Foreclosures and short sales have made up less than 7% of the sold properties in Bozeman during the first 8 months of 2013.

As usual, I have included data for the number of homes sold in Bozeman during the first 8 months of 2013. In addition to the 571 homes sold during this time period, another 148 homes are currently pending, or under contract, as of the date of writing this article.
The included data reflects sales of homes on less than and more than 1 acre 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 Southwest Montana MLS, and does not include private party sales, Condominiums, or Townhouses.

Tim Ford is a Realtor ® with Vellinga Real Estate in Bozeman Montana. He can be contacted at 406-209-1214