Is This a Joke? Tiny Lot in Bozeman Listed For Over $1 Million

The housing market in Bozeman is crazy, to say the least. Unfortunately, there doesn't seem to be an end in sight when it comes to high-priced homes in the area. Every few months, we take a look at homes for sale in Bozeman to get a better understanding of the real estate market and see if there's any reduction in home prices.

There's no denying that houses in Bozeman are expensive, so we weren't really surprised to find quite a few homes listed near or above $1 million. However, we did find a vacant lot that was listed for an astronomical amount. Sure, buying a piece of land and building your own home isn't cheap, but we were blown away when we saw the asking price for less than an acre of land in the heart of the city.

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A vacant lot located at 111 S. Church Avenue in Bozeman has been on the market since the beginning of June, and when we saw what it was listed for, the fact that it had been on the market for so long made a little more sense. It's literally an empty lot with nothing on it, and it's only 7710.12 sqft.

Most Expensive Piece of Land in Bozeman

Here's a description of the property from a listing on Trulia.

Incredible opportunity to own a downtown development lot, with B-3 zoning and endless possibilities! Included in the sale are plans for a 6-plex of high-end, short-term rental condominiums (including approved building plans, with permit and impact fees already paid), but the sky is the limit with this centrally-located piece. With the neighboring B-3 property also available for sale, development potential increases tremendously, creating a unique and exciting opportunity to be a part of the redevelopment of Bozeman's historic downtown. Just one block from Bozeman's bustling Main Street and with convenient access to shopping, dining, and recreation, the location cannot be beat.

So, what is the asking price? You won't believe it, and it's going to make you cringe. The lot is currently listed for sale for $1,679,000. If you look at the price history, the property was listed for sale for $180,000 in 2011. In 2018, it sold for $525,000. It's hard to believe that the value of the property has tripled in only 5 years, but nothing really surprises me in Bozeman anymore.

The listing is provided by Charlotte Durham with Big Sky Sothby's in Bozeman.