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06/23/2026
Market at a Glance
The Gallatin Valley isn't one real estate market, it's several. Right now they're moving in very different directions.
A few highlights from the latest numbers:
Big Sky single-family homes have shifted well into buyer's-market territory. Roughly 12.5 months of supply and a median 148 days on market. Bozeman and Belgrade single-family homes are holding steady in neutral territory, selling in the mid-40-day range at about 94–95% of list price.
Swipe through the carousel to find your specific market.
Whether you're buying, selling, or just keeping an eye on your investment, knowing where the market actually stands is how you make confident decisions.
See the complete Real Estate Market Reports here: https://delgerrealestate.com/data/
Questions about your neighborhood? Reach out anytime: Craig Delger, Broker · 406-581-7504
06/09/2026
COMMERCIAL LAND FOR SALE — 514 E. 1st Avenue, Big Timber, Montana | $325,000
MLS #411902
A rare development-ready opportunity at the crossroads of Montana commerce. This site offers two fully entitled lots with direct Highway 191 frontage and immediate access to Interstate 90: high-visibility exposure to travelers, locals, and freight traffic alike.
THE PROPERTY
• ±22,500 SF / 0.482 acres
• 2 lots (75′ × 150′ each)
• Highway Business zoning in place
• Direct Highway 191 frontage + I-90 access
INFRASTRUCTURE — READY TO BUILD
✅ Water & sewer available to site
✅ 3-phase power accessible
✅ Fiber-optic internet to site
✅ Clean, flat, development-ready lot
WHY BIG TIMBER?
As the county seat and commercial center of Sweet Grass County, Big Timber sits squarely between Montana's two strongest economic markets, Bozeman (60 mi) and Billings (80 mi), with Livingston just 33 miles away and Yellowstone National Park within 115 miles. Investors and developers get a growing regional market, strong I-90 traffic and tourism demand, limited commercial inventory, and lower development costs than the larger metros, all in Montana's business-friendly tax and regulatory climate.
POTENTIAL USES: Retail, professional offices, medical services, restaurant or coffee shop, hospitality, contractor shops, equipment sales, business headquarters, mixed-use, storage & service — and more.
Request the full offering package or schedule a private site visit:
Craig Delger, Broker/Owner — Delger Real Estate · 406-581-7504
Nolan Campbell, Broker/Owner — bozehome + co Real Estate · 406-209-2386
06/03/2026
2685 Blackbird Drive is a 2018-built, 3-bedroom townhouse in
Cattail Creek. Upgraded finishes, low overhead, and a
northwest location that puts everything within reach.
Quartz throughout · Tiled showers · Dual vanities
Gas fireplace · Private patio · Central A/C
Washer & dryer included.
Less than 1 mile to Costco, Target & WinCo. 4 miles to
downtown. 5 to MSU. 7.5 to the airport. GVLT trail
access around the corner.
List Price: $579,500
3 BD · 2.5 BA · 1,725 SF · Built 2018
MLS # 411855
Call/Text Craig Delger 406-581-7504 to schedule a showing.
05/29/2026
Most people are wrong about what an oil shock does to home prices.
The conventional wisdom: oil spikes → inflation → tangible assets like real estate go up. Lumber costs more. Concrete costs more. Trucking costs more. So homes have to cost more, right?
Wrong. And here's the part nobody talks about.
Buyers don't purchase a house based on what it cost to build it. They purchase based on what they can borrow.
When energy drives systemic inflation, the Fed is forced to hold rates "higher for longer." Mortgage rates stay high. Borrowing power gets crushed by as much as 35%. Meanwhile, your monthly gas, heat, and utility bills eat into the same paycheck that's supposed to cover the mortgage.
Result: inventory locks up (no one trades a 3% loan for a 7% one), then life forces sales anyway(death, divorce, relocation) and those forced transactions reset the comps for entire neighborhoods. Builders, sitting on construction debt they can't carry, slash prices to move product.
But here's the part most people miss (Slide 8):
The correction is not uniform.
Entry-level and mid-market homes(the ones dependent on financing) take the hit.
Ultra-luxury and cash-buyer markets stay insulated. High net worth buyers don't care what the 30-year is doing. They buy in cash, in premier locations, to protect value.
Two markets. Same headline. Completely different outcomes.
If you're buying, selling, or just trying to time your next move in Bozeman, strategy matters more right now than it has in a decade.
Swipe through the 10 slides. Then let's talk.
Craig Delger | Broker/Owner
Delger Real Estate — Bozeman, MT
406-581-7504 | DelgerRealEstate.com
05/26/2026
Most buyers and sellers in southwest Montana are making decisions based on a few months of market data. Delger Real Estate Market Reports gives you 22 years of it.
The reports are live now at delgerrealestate.com/data, covering Bozeman, Belgrade, and Big Sky across three property types. Price trends, transaction volume, days on market, and historical comparisons. The kind of data that turns a guess about market timing into something closer to an informed decision.
If you are tracking this market or considering a move in southwest Montana, this is where to start.
delgerrealestate.com/data
Craig Delger | Broker | Delger Real Estate | Bozeman, Montana
National data from Redfin, May 2026: 43.1% of home listings have more sellers than qualified buyers. That was 28% this time last year, and the record is 45.2% from December 2024.
Here is what that actually means. The market has not gotten cheaper. What has changed is who can still afford to be in it. Rates, insurance costs, prices, and economic uncertainty have pulled a significant portion of buyers off the field entirely. The buyers who remain have something real: more inventory to choose from, less urgency to decide, and room to negotiate in ways that were not possible during the last few years.
That leverage is not permanent. The day rates shift, those sidelined buyers come back fast and the dynamic changes.
If you are a qualified buyer watching the Bozeman or Gallatin Valley market, this is the window worth understanding before you move. Call or text 406-581-7504 or visit DelgerRealEstate.com.
Craig Delger | Broker | Delger Real Estate | Bozeman, Montana
05/13/2026
Bozeman Real Estate Market Update — May 2026
There are two numbers floating around in the Bozeman real estate market right now, and they're $482,000 apart. Most buyers hear the wrong one first.
Median sale price: $1,297,000
Average sale price: $1,778,892
The average is being pulled upward by a meaningful tier of high-end properties at the top of the market. The median is the more reliable number. It's where half of all single-family sales actually close. If you've been using the average to set your expectations in Bozeman, you've been working with the wrong benchmark.
Where the market stands right now:
• 289 active listings
• $1.297M median sale price
• $430 median price per square foot
• 50 median days on market (vs. 84 average — well-priced homes move quickly, overpriced ones sit)
The 5-year picture:
After an 18% jump in 2022, Bozeman median prices have averaged just 1.5% annual appreciation over the past three years. $925,000 heading into 2026. This is not a market in trouble. It's a market that found its level.
Stable. Not distressed. Not booming.
If you have questions about what any of this means for buying or selling in Bozeman, I'm happy to talk through it. No pressure, just straight answers.
📞 406-581-7504
🌐 DelgerRealEstate.com
Source: Southwest Montana MLS — 17,009 transactions analyzed across 22 years of data.
The housing market is telling two very different stories right now. Here's what it means for buyers and sellers in Bozeman.
According to realtor.com, home prices are currently rising in 71% of U.S. real estate markets. At the same time, 29% of markets are seeing prices flatten or decline. That's a deeply divided national picture, and understanding which side your market is on makes all the difference.
Here in Bozeman, the answer isn't simple. Some premium segments of our market are trending upward. Others are holding flat or beginning to soften. This is precisely why a blanket "prices are up" or "prices are down" headline doesn't tell the full story.
What this means for you:
Whether you're buying or selling, market shifts like these can represent tens of thousands of dollars in the right, or wrong direction. Knowing exactly which neighborhoods, price points, and property types are gaining or losing ground requires someone who tracks this local data every single day.
That's what I'm here for.
I'm Craig Delger, Broker at Delger Real Estate. I've spent years helping buyers and sellers across the Bozeman area navigate exactly these kinds of nuanced market conditions, and I'd love to help you do the same.
If you're thinking about buying, selling, or just want to understand what your home is worth in today's market, let's have a real conversation.
📞 406-581-7504
🌐 DelgerRealEstate.com
If you have been waiting to buy or sell in Bozeman because you
are not sure what the market is doing, you are not alone.
Most people are in exactly that position right now.
Here is what three years of market data actually shows:
Transaction volume in Bozeman is down 42% from the 2021 peak.
Active inventory across Gallatin Valley is up 31% year-over-year.
And homes that are selling are closing at 94% of original list price.
What does that mean in plain terms? Buyers have more options and
more negotiating room than they have had in years. Sellers who
price strategically are still getting strong outcomes. The gap
between those who do well in this market and those who don't
comes down to one thing: knowing exactly where the opportunity
is by neighborhood, price point, and timing.
This is not a market to sit out. It is a market that rewards
working with someone who knows it deeply.
Craig Delger has spent years building the kind of data-driven,
negotiation-focused practice that this market specifically
demands. If you have been waiting for the right time to have
a real conversation about your next move in Bozeman, that
time is now.
Call or text Craig directly at 406-581-7504, or visit
DelgerRealEstate.com to get started.
Delger Real Estate | Bozeman, Montana
Somewhere between the COVID frenzy of 2021 and today, the negotiating dynamic in Bozeman shifted.
In 2021, buyers were paying 102.8% of the original asking price. Bidding wars were routine, over-ask offers were expected, and sellers held nearly all of the leverage. That was the peak of 22 years of data across 17,009 Bozeman single-family transactions.
In 2025, that number stands at 96.8%. Buyers are paying 3.2% below asking on average, the widest discount from list price since 2012.
This is not a collapse. It is a recalibration. Sellers still have a functional market. But the table looks meaningfully different from four years ago, and understanding where the leverage actually sits right now matters whether you are buying, selling, or deciding whether to move at all.
For buyers, negotiating room exists in a way it has not since before the rate-driven slowdown of 2022. For sellers, precise list pricing is no longer optional. Overpriced listings sit. The 22-year data record is clear on that point.
Watch the animated data breakdown, then reach out with questions about how this applies to your specific situation in Bozeman or the surrounding area.
DelgerRealEstate.com | 406-581-7504
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Bozeman, MT
59715
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