Montana’s real estate market presents a nuanced picture: while home prices continue to rise, increased inventory and extended listing durations have shifted the market dynamics in favor of buyers. Here’s a comprehensive overview:
🏠 Statewide Market Overview
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Median Sale Price: In April 2025, the median home sale price in Montana reached $528,500, marking a 2.6% year-over-year increase.
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Average Home Value: The average home value stood at $461,988, up 2.4% over the past year.
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Sales Volume: Approximately 851 homes were sold in April 2025, a 3.4% decrease compared to April 2024.
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Days on Market: Homes spent a median of 91 days on the market in April 2025, up 19 days year-over-year.
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Inventory Levels: There were 6,165 homes for sale in April 2025, a 13.4% increase year-over-year.
📊 Market Dynamics
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Buyer’s Market Conditions: The market currently favors buyers, with homes remaining on the market longer and increased inventory providing more options.
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Price Reductions: Approximately 17.4% of listings experienced price drops, indicating sellers’ willingness to negotiate.
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Sale-to-List Price Ratio: Homes are selling at approximately 97.2% of their list price, reflecting a slight decrease in competition among buyers.
🌆 Regional Highlights
Bozeman
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Median Sale Price: The median sales price for a single-family home in Bozeman reached $810,000 in 2024, setting a new record.
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Days on Market: Properties in Bozeman are averaging 84 days on the market, indicating a modest slowdown from previous periods.
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Market Trends: Despite high prices, the growth rate of home prices has slowed to 3%, a stark contrast to the double-digit annual increases seen between 2020 and 2022.
🔮 Market Outlook
The Montana housing market is expected to remain stable through the remainder of 2025. While home prices continue to rise modestly, increased inventory and longer days on market suggest that buyers will have more negotiating power. Sellers should be prepared for longer listing times and consider competitive pricing strategies to attract buyers. Overall, the market dynamics indicate a shift towards a more balanced environment, offering opportunities for both buyers and sellers.