Missoula Real Estate Market Report – September 2009
Residential Market Activity in the Missoula Urban Area
(residential, AND residential with acreage)
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 71 | $ 199,000 | 126 |
| 2008 | 80 | $203,375 | 100 |
| 2007 | 99 | $214,900 | 99 |
| 2006 | 120 | $215,600 | 105 |
| 2005 | 143 | $214,900 | 119 |
| 2004 | 110 | $179,200 | 101 |
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 652 | $212,000 | 123 |
| 2008 | 757 | $216,086 | 113 |
| 2007 | 995 | $216,900 | 116 |
| 2006 | 1157 | $207,300 | 108 |
| 2005 | 1079 | $189,900 | 110 |
| 2004 | 904 | $178,692 | 101 |
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.
Some Market Trends in Missoula Home Sales:
- There are approximately 921 active listings in the urban area including single family, condos/townhomes, and manufactured/modular.
- Foreclosures in Missoula so far this year account for about 14% of the market. There have always been foreclosures in the market. This is higher than it has been but well below some of the most distressed markets nationwide where the number is 50% or higher.
- Of the 921 listings, then, approximately 800 are on the market for reasons other than a distressed sale.
- Of the 646 properties that have sold in Missoula so far in 2009, the difference between the median listing price and the median sales price is about 4%. In other words, properties that are selling are priced right, and buyers and lenders are recognizing that and responding accordingly to get the transactions closed.
Source: Missoula Organization of Realtors(R)
Visit our MARKET REPORTS home page for the latest on the Missoula Real Estate Market.
For more information on Missoula Home Sales or to request a Market Analysis of your property, contact Kevin and Monica Ray of Access Realty at 406-207-1185.
