BOZEMAN – Bozeman home prices have increased by 20% in the last year, so what is making people from all over the nation continue to move here?
The list includes the quality of life, economy, outdoors, Montana State University, and the high-tech industry.
“Bozeman has become the Silicon Valley of the Rocky Mountains,” said Candis Dorsch of Bozeman Brokers. “Individuals are looking at Bozeman and saying ‘BINGO, that my target. That is where I want to live.”
Dorsch said for the first time ever the option of telecommuting has allowed for people working all over the country to be able to live where they want. She said the Gallatin Valley has less pollution, less traffic, and a greater quality of life, making it the premiere home landing spot.
Bozeman attracts people who want to buy a home for their child or grandchild attending MSU, vacation home buyers, people moving from large cities, and second-home buyers. There aren’t enough properties to go around due to the high demand, which in turn drives up the prices.
CEO of the Gallatin Association of REALTORS Steve Candler said the increase in price doesn’t worry those coming from highly populated areas.
“They can afford to spend a million dollars or $750,000 on a home when they come here and it is not near as expensive as where they are coming from,” said Candler.
Due to this, Candler said over 20% of buyers pay full cash, giving them leverage because they do not have to worry about financing.
Reporting by Mederios Babb for MTN News