This article usually focuses on single family homes sales, but condos and townhomes make up a large portion of our market as well. Therefore, I thought it worthwhile to take a look at how those sales are faring. All data will include both condominiums and townhouses located in and around Bozeman, but not including Belgrade. The date range will be from the first of the year through May 1st.

2015 has proven to be a big come back year for condo and townhouse sales. Prices are very close to their peak but not quite there yet, at least while comparing median sold prices. The peak year for pricing was 2007, during which 143 condos & townhouses sold during the first four months at a median sold price of $220,000. During the first four months of 2015, 124 units have sold at a median sold price of $197,900.

Looking at sales volume, the number of condos and townhouses sold hit its peak in 2005 at 154 units in the first four months. It dropped to its lowest in 2009 at 41 units. Then it started to inch back up with 49 units sold in 2010, 75 in 2011, 85 in 2012, 79 in 2013, 111 in 2014, and now in 2015, 124 units have sold in the first four months.

Median sold pricing dropped from its peak of $220,000 in 2007 all the way down to $144,000 in 2012, then began to climb back up in 2013 to $159,900. During the first four months of 2015 it has risen to $197,900. As discussed in previous articles, using median sold pricing to determine trends is not an exact science, but it does give a good indicator as to pricing trends.

As usual, I have included data for the number of single family homes sold during the first four month of 2015. In addition to the 270 single family homes sold during this time period, another 187 homes are currently pending, or under contract, as of the date of writing this article.

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 Southwest Montana MLS, and does not include private party sales, Condominiums, or Townhouses.