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  • Bozeman Real Estate Market | Real Estate News, Reports, & Advice Blog

    Friday, November 17, 2017   /   by Olivia Martin

    Home Prices and Growth: What’s Going On?

    What Does Growth Look Like Around the U.S.?
    It comes as no surprise to many of us that owning a home can be an expensive venture. Factor in HOA fees, interior appliances/materials, miscellaneous maintenance costs and everything in between, and it’s easy to see why being a homeowner can appear to be daunting to some.
    Although home prices grew 5.6% last year, this is only determined when comparing dollars to dollars. If this statistic is adjusted for inflation, this increase is still actually 15% below the high that occurred in 2006. Of the country’s 100 largest metro areas, only 41 grew to new peaks, even though 97 of these 100 metro areas did see overall home price growth. Overall, housing markets on both the West and East coasts have experienced inflation-adjusted home price increases of more than 40% in the last 16 years, while markets in the Midwest and South have generally experienced decreases.
    However, growth has not been the same across all income levels. After Ha ...

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    Friday, March 24, 2017   /   by Olivia Martin

    A Skeptic Outlook for $125 Million Proposal for Two Bozeman High Schools

    Bozeman’s $125 million plan for a second high school and improvements to the existing one is awaiting voter approval in the upcoming May 2nd election, and the outlook doesn’t look so good.
    Voters normally approve Bozeman School District’s development plans, and by big margins. In the last seven school construction bond proposals, ($36 million for Bozeman High School, $16 million for Sacajawea Middle School, $5.5 million for Hawthorne Elementary, $17.5 million and $26.3 million to build Hyalite Elementary and Meadowlark Elementary, and two bonds of $14.1 million and $5.75 to build the new Chief Joseph Middle School) each were approved by margins as high as 62 to 70 percent.
    It seems, however, that voters are changing pace. In the last November election, voters of Gallatin County rejected the $71.5 million proposal for a new courts and law enforcement facility. The proposal lost by 3 percent (47% approved by city and county voters).
    Even more discouraging to the ...

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    Thursday, March 23, 2017   /   by Olivia Martin

    Another Mid-Rise Building Approved for Bozeman

    The lots currently occupied by the vacant old Pizza Hut at 716 W. Babcock Street and the home next to it may soon be the site of another four-story apartment building in Bozeman. The SOBO Lofts, or South Bozeman Lofts, is planned to hold 42 one-bedroom apartments and 3,000 square feet of commercial space facing Babcock Street.
    The project came by surprise as it was approved by Bozeman planning director Marty Matsen without a public hearing before the Bozeman City Commission. Meanwhile, a heated debate over another mid-rise building is already underway for the Black-Olive proposal downtown. It will be interesting to see how the neighbors respond when they see this building go up.  
    Here’s a map of all the mid-rise buildings that are currently planned or being constructed in Bozeman: 

    Matsen said that the SOBO Lofts plans abides by Bozeman’s zoning code, which does not merit a hearing before city commissioners. The SOBO building is planned to be 50 feet h ...

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    Monday, March 6, 2017   /   by Olivia Martin

    Montana May Soon Be the New Silicon Valley

    Montana is known for its wild countryside and its many great outdoor amenities, but there’s much more going on in our state than what you may realize. Montana has made some major strides in its economic performance in recent years, with more to come.
    The High-Tech Sector is Booming
    The high-tech sector is growing exponentially in Montana, contributing more than $1.5 billion in revenue last year, according to a survey conducted by the Montana High Tech Business Alliance (MHTBA). That’s an increase of more than 70% in revenue from what was reported in 2015! The board chairman of the MHTBA, Greg Gianforte, says that the high-tech industry remains the fastest growing sector in Montana.
    For a better perspective of this substantial growth, the University of Montana’s Bureau of Business reported from a survey that the number of high tech business alliance members doubled in its first year from 101 companies in 2014 to 202 companies in 2015.
    This survey revealed an increa ...

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    Monday, February 6, 2017   /   by Olivia Martin

    Gallatin County Leads Montana's Economy

    Gallatin County had remarkable performance in Montana's economy, leading the state in wage growth last year. While it experienced a slight drop in wage growth from 2015 to 2016, the county seems to be in much better shape than the rest of the state. 

    Gallatin County's total wage income increased by a staggering $73 million in the first half of 2016 from the preceding year. Yellowstone County, the state's largest, lead the state for the first half of 2015, before Gallatin County took its place in the second half. By 2016, Yellowstone County suffered an abrupt slowdown, while Gallatin County lead the state by nearly $40 million ahead of the runner-up, Flathead County.

    In 2016, almost every county in Montana had slower growth. The Bureau of Business and Economic Research credited this fact to the substantial increases in Medicaid not carried over to 2016, causing health care wages to drop across the entire state. However, there were unique cases for eac ...

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