BOZEMAN – According to the Gallatin Association of REALTORS (GAR), home prices in Gallatin County have increased more than 20% since January of last year.
GAR reported that a single-family home that was priced at $392,500 in January 2018 now can be sold for $476,500.
For that same time period, the median condominium price also increased from $279,000 to $333,200.
GAR CEO Steve Candler said these prices continue to rise because of the number of people moving from places like Washington, Texas, and California.
“In California, and a lot of the prices in Washinton are, bottom line, higher than Bozeman,” said Candler. “So they can afford to spend a million dollars, or $750,000 on a house when they come here and it is not nearly as expensive as where they are coming from.”
The median home price specifically for Bozeman has also gone up about 20% in the last year and is now priced at $475,000.
Reporting by Mederios Babb for MTN News