1. EXPECT A FAST MOVING MARKET
The average residential property in Bozeman spend less than 2 months on the market – properties under $350,000 move even faster, roughly 1 month. With Bozeman’s population growth reaching a staggering 4.2 percent in 2016, affordable homes are in high demand and builders are struggling to keep up. It certainly is a sellers’ market in Bozeman and buyers in the under $350,000 price range can expect plenty of competition. If you are buying a home in Bozeman you should be prepared to move quickly.
2. WANT TO BUILD A TINY HOME IN BOZEMAN? NOT SO FAST.
The TV show "Tiny House Living" has created a lot of interest in building tiny homes between 400 and 600 sqft. But here in Bozeman, city zoning requirements mandate a minimum of 1,100 sq.ft for a home within city limits. If you go outside city limits, most home lots are within subdivisions whose covenants have a minimum of between 1,100 sqft and 1,500 sq.ft. If you want to build a tiny house in the Bozeman area, you will likely have to find a piece of land outside city limits with no covenants.
3. BOZEMAN’S REAL ESTATE MARKET SEEMS TO BE UNAFFECTED BY THE SEASONS
Gone are the days of seasonal slumps in the real estate market – at least in Bozeman. While most real estate markets see a surge of activity in the spring and summer months and a slowdown in the winter, Bozeman’s real estate activity has been remaining steady throughout the year. So don’t worry if you find yourself looking for a home in the winter months – Bozeman certainly doesn’t slow down that time of year.
4. PROPERTY TAXES WILL BE GOING UP
Bozeman residents experienced their tax bills increasing in 2017 as the city called for higher tax and assessment rates to accommodate city’s growth. One of the wonderful things about Montana is we don’t have a sales tax. Property taxes plays a large role in the local government's ability to build our new schools needed to accommodate the growth, including the second high school in Bozeman, improve infrastructure, and continue to address our emergency service response time and the 911 communication system.