Missoula Montana Real Estate Market Update February 2009

Real Estate market conditions are highly localized which is why it is important to review and understand local market data when you are considering buying or selling real estate.

While certain areas of the country have seen significant downturns in their real estate market, Missoula and surrounding areas have not been hit as hard and there are signs of optimism. From 2008 to 2009 the median home price decreased $2,000 in the Missoula area.

There are reasons for optimism for the Missoula market in 2009. According to Housing Predictor, Montana is predicted to be in the Top 25 Real Estate Markets. A prominent local economist is also optimistic about the economic future of Montana.

For the month of January in the Missoula area, the Median Sales Price is up from 2008, along with the Average Days on Market. The number of sales was down however.

Missoula Urban Area - Month of January

Year	# of Sales	Median Price	Avg Days on Market
2009	33	$ 236,100	139
2008	55	$189,920	93
2007	68	$189,750	126
2006	76	$192,750	128
2005	69	$179,900	108
2004	63	$165,000	120

A table summarizing the number of Active Listings on the market as of February 5, 2009 has also been provided below.

Missoula Urban Area - Month of January

Year	# of Sales	Median Price	Avg Days on Market
2009	33	$ 236,100	139
2008	55	$189,920	93
2007	68	$189,750	126
2006	76	$192,750	128
2005	69	$179,900	108
2004	63	$165,000	120

Active listings indicate the number of properties from which buyers can choose. An increase/decrease in the number of listings indicates seller activity and may affect buyer choices.

Source: Missoula Organization of Realtors (R)

If you have any questions on the Missoula or Western Montana real estate market, give Access Realty a call at 406-822-SOLD (7653) or 406-207-1185. You can also visit our website at www.AccessRealty.net.