The Belgrade real estate market has seen a noticeable increase in activity so far this year, even as home prices have remained relatively stable. Single-family home sales numbers are up considerably compared to the past several years, while the median sales price has actually edged lower from last year. At the same time, condo and townhouse sales have remained steady, new construction continues to play an important role in the market, and homes are taking longer to sell than they did during the pandemic-era frenzy. Taken together, the numbers point to a Belgrade market that is active and growing, but also more balanced than what we experienced just a few years ago.

From January 1st through September 1st of this year, 193 Single family homes sold in Belgrade at a median sold price of $590,000. This compares to 159 single family homes sold during the same time period of 2025 at a median sold price of $609,000. In 2024, it was 138 single family homes sold at a median sold price of $583,500. That was remarkably similar to the same time period of 2023 when 134 single family homes sold at a median sold price of $586,500.

While prices are much higher now, sales volume was considerably higher back in 2019 and 2020. During the first seven months of 2020 and 2019, the numbers were 239 sales at a median sold price of $359,000 and 234 sales at a median sold price of $335,500, respectively. However, the 193 homes sold this year marks a 21% increase in sales volume from last year and a nearly 40% increase in sales volume from 2024.

Looking at condo and townhouse sales, the numbers are essentially flat compared to last year. So far this year, 60 units have sold at a median sold price of $450,000. This is very similar to 2025, when 59 units sold at a median sold price of $455,000. These numbers are down in both sales volume and pricing from 2024, when 73 units sold during the first seven months at a median sold price of $467,000. 

This leveling in sales volume is a change from the volatility seen in previous years for condo and townhouse sales; from 2019 to 2020, the number of sales nearly doubled, from 57 units in 2019 to 104 in the first seven months of 2020. Accounting for much of that increase was new construction, with 70 of the 104 units being new builds. In 2021, 82 condos and townhouses sold during the same time period. In 2022, 59 units sold through the first of September. Sales volume rose slightly in 2023 and 2024, with 65 sales in 2023 and 74 during the first seven months of last year.   

The number of new construction single family homes sold via the MLS in Belgrade has continued an upward trend that started two years ago, after tapering for a few years. New construction homes in Belgrade hit a high in 2020, when 96 new construction single family homes sold in Belgrade in the first seven months. That was up from 65 new construction homes sold during the first seven months of 2019. In 2021, only 33 of the 192 single family home sales posted on MLS were newly constructed. In 2022 and 2023, the trend continued, with the first seven months of each respective year seeing 23 of 168 homes and 11 of 134 homes being newly constructed. In 2024 it ticked back up, with 28 of the 138 homes sold on the MLS being newly built. Last year it was up considerably, when 58 homes out of the 159 total sold were new construction. This year is again very similar to last year, with 64 of the 193 homes sold being newly built.

Looking at sales of new construction condos and townhouses, in the first seven months of 2019, 31 of the 57 condo and townhouse sales were new construction. From January 1st through September 1st of 2020, 70 of the 105 units sold were new construction. During that period of 2021, only 20 of the 82 units were newly constructed, and in 2022, only 11 of the 59 units sold were new builds. The number was back up in 2023, with 33 of the 65 units sold being new construction. 2024 and 2025 were down slightly from 2023 but still well above 2022, with 26 new construction sales in 2024 and 21 similar sales in 2025. This year, the number of new construction condo and townhouse sales is back down, with only 11 of the 60 units being newly built.

These new construction numbers only include those homes sold via our local MLS. Many new construction homes sell directly from builder to buyer, without being posted on MLS, so that could account for some of the differences.

Time on market is slightly lower than last year, but still well above pandemic lows. Looking at median days on market: After remaining essentially constant from 2019 to 2020, when it was at 26 and 25 days respectively, the median DOM dropped in 2021 to five days, where it remained into 2022. In 2023, it started to rise and grew to 13 days on market. In 2024, it ticked up to 17 days. For the first eight months of last year, the median days on market for single family homes in Belgrade was at 34 days. This year, it’s down just slightly at 30 days.

I have included data for the number of single-family homes sold in Bozeman during the first seven months of 2026. Current pending sales for single family homes in Bozeman are at 105, which is up from 94 at this same time last year.

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.