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For the second time this year, average home prices in Gallatin County this September topped $1 million as inventory for houses remained low.

Median home prices increased 24% from September 2020 to September 2021, while selling nearly three times faster than the year before, according to a monthly real estate report from the Gallatin Association of Realtors.

“Our market continues to perform at an unprecedented level,” said Lacy Browne, the board president of GAR in a press release.

In Bozeman, the median price for a single-family home was just more than $734,500 in September, a 26% increase from prices in 2020. From September 2019 to September 2021, median home prices rose about 45%.

That’s more than double the national median price for a single-family home of $352,800, according to the National Association of Realtors.

Single-family houses in Bozeman sold on average 12 days after going on the market. That’s slower than August, where homes sold within nine days.

Sellers received just more than 100% of asking prices in September.

Inventory for homes in Bozeman continued to be low with just 58 homes available in September, or about one month’s supply of inventory. Condos and townhomes in Bozeman increased 43% in median price from last year, rising to $455,500 but stayed at nearly the same price as last month. On average, the condos and townhouses stayed on the market for 38 days.

In Gallatin County, inventory of available single-family homes decreased about 11% from 227 to 201. The average days on market fell 66% from 2020.

There was less than a month’s supply of condos and townhouses in the county, with about 43 available in September.

In the Big Sky area, median prices only increased half a percent from 2020, but still totaled over $2.5 million. The median price for condos and townhomes was just about $1 million.

“While the market usually begins to cool down around this time of year, we expect sales to remain strong as we move into fall,” Browne.

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Juliana Sukut can be reached at 582-2630 or jsukut@dailychronicle.com

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