Missoula Market Report
Missoula Montana Real Estate Market Trends Report – March 2009
April 9, 2009 by admin · Leave a Comment
Missoula Montana Real Estate Market Trends Report – March 2009
In Missoula MT, we saw a spike in home sales in February comparable to last year. We are still seeing a good number of sales in March but the numbers are down from 2008.
A bright spot is that the median home prices are showing an increase from last year at the same time. The days on market are up in the Missoula Urban Area but not alarmingly high and are the same for the County overall.
March’s weather was unpredictable and chilly. We had an average temperature of 33 degress for the month, which when combined about concerns about the economy, may have kept some buyers indoors.
We have witnessed an increase in inquiries about properties, new buyers and have excellent turn-outs for open houses which keeps us optimistic about Spring in real estate in the Missoula area.
Residential Market Activity in the Missoula Urban Area
(residential, AND residential with acreage)
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 48 | $ 225,750 | 119 |
| 2008 | 70 | $208,250 | 114 |
| 2007 | 84 | $222,590 | 138 |
| 2006 Funny Money divx | 97 | $204,000 | 132 |
| 2005 | 87 | $190,500 | 134 |
| 2004 | 80 | $168,387 | 108 |
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 66 | $230,750 | 125 |
| 2008 | 93 | $214,900 | 125 |
| 2007 | 112 | $231,000 | 135 |
| 2006 | 130 | $204,500 | 132 |
| 2005 | 108 | $191,000 | 138 |
| 2004 | 104 | $161,450 | 114 |
| Year
|
# of Sales download Domino dvd | Median Price Dolans Cadillac | Avg Days on Market |
| 2009 | 162 | $235,000 | 144 |
| 2008 | 224 | $216,000 | 127 |
| 2007 | 277 | $214,000 | 132 |
| 2006 | 323 | $200,000 | 136 |
| 2005
|
254 | $179,900 | 137 |
| 2004 | 252 | $162,450 | 124 |
|
|
Residential | Condos / Townhomes | Res. with Acreage | Multi-Family | Land | Commercial |
| Missoula Urban Area | 662 | 178 | 66 | 46 | 476 | 133 |
| Missoula County | 779 | 180 | 294 | 48 | 997 | 185 |
Sales for Missoula County provide a more regional picture. However, a county representation is not a reliable indicator of the market in any of the individual and unique communities within the county. Sales represent properties that have transferred and the transaction has closed. It is the best reliable indicator of what prices the real estate market will bear.
The national media is beginning to take note that not every market is reflecting the national housing downturn. The New York Times singled out Missoula as a ‘stable’ market. And a real estate forecasting service called “Housing Predictor” says “They’ve dodged the bullet in the nation’s housing depression in North Dakota and Montana.”
Data Source: The Missoula Organization of Realtors (R)
For More Information on the Missoula Housing Market & Economy, you can read:
Interest Rate Update & Commentary 4/2/09
Missoula Montana Real Estate Market Report February 2009
Missoula Real Estate – Rosy Compared to the Rest of the Country Toy Love movie
A Breath of Fresh Air – A Positive Outlook for Montana’s Economy
Missoula Predicted to Be in the Top 25 for Housing Real Estate Markets in 2009!
Missoula Real Estate – State of the Market Report
March 31, 2009 by admin · Leave a Comment
1. Comparable data for the nation as a whole is in almost all cases more dire than that for Montana in general and Missoula in particular.
