To get straight to the point, the median home sale price in Billings (Billings, MT) for 2026 is around $375,000 to $380,000. This is clear. Based on data from Redfin and Zillow, the most recently recorded median sale price is $375,000, which is about a 3.2% decrease from the previous year, while Zillow's average home value is $398,212, showing a 1.9% increase compared to last year. There is a difference between the two indicators, but the current market is finding balance within the range of $375,000 to $400,000.

From direct observations in the field, the Billings market is transitioning to a buyer's market in 2026. The average time homes are on the market has reached 98 days, which is significantly longer compared to just two years ago. The inventory level (Months of Supply) is at 4.8 months, and typically, a market is classified as a complete buyer's market when it exceeds 6 months, but we are currently nearing that boundary. The proportion of listings that have undergone price reductions has decreased from 23.63% to 14.2%, indicating that sellers are starting to list their homes at more realistic prices from the outset.

Changes are also being observed in inventory. As of February 2026, the number of listings in Billings is recorded at 486, with an expected annual inventory growth rate of 5-10%. This is a different situation compared to the severe inventory shortage experienced in 2021-2022. The national average 30-year fixed mortgage rate is still hovering in the mid to high 6% range in the first half of 2026, which limits buyers' purchasing power, although it is somewhat eased compared to the peak in 2023-2024.

• Median sale price (Redfin, 2026): $375,000 (down 3.2% from last year)
• Average home value (Zillow, 2026): $398,212 (up 1.9% from last year)
• Average time on market: 98 days
• Months of Supply: 4.8 months
• Current number of listings (as of February 2026): 486
• Expected annual inventory growth rate: 5-10%

Billings is the largest city in Montana, with a stable employment structure based on the energy and agriculture industries. This is a key factor in reducing the risk of price drops compared to other regions. However, as long as the 30-year mortgage rate remains around 6.5%, the monthly principal and interest payments will still be high. For a home priced at $375,000 with a 20% down payment, the estimated monthly payment would be around $1,900 to $2,000.

Experts predict that home prices in Billings will rise an additional 2-4% in the second half of 2026. This is because, even with an increase in inventory, the demand itself has not collapsed. For buyers, now is the time to maximize their negotiating power. There are various conditions to leverage, such as negotiating price reductions, requesting sellers to cover closing costs, and buying down mortgage points. For sellers, it is essential to set realistic asking prices that align with the market from the beginning.

(Source: Redfin Billings Housing Market Report 2026 / Zillow Billings Home Values 2026 / Houzeo Billings Housing Market 2026 / Stacker Billings House Prices 2026, based on 2026 data / This article is not investment or legal advice, and it is recommended to consult with a professional before making any actual contracts.)