Victor, MT

As we continue further south down the Bitterroot Valley our next community encountered is Corvallis. Another small town core with surrounding neighborhoods on larger parcels of land similar to Victor Corvallis features the Daly Mansion found just south of town, a popular attraction to visit and a place where you’ll find many weddings over the summer and fall. Corvallis unlike Stevensville and Victor does blend with it’s neighboring town, Hamilton.

For 2010 in Corvallis I found that there were 59 residential sales with a median sales price of $239,000. There was just 1 foreclosure sale and the median time on market was 168 days overall. Moving forward to 2011 the amount of sales dipped slightly to 57 overall and the median price dropped a bit as well to $225,000. The amount of foreclosures climbed to 12 and the median time on market also extended to 201.

The running 12-month absorption rates for Corvallis show that there’s 25.5 months of inventory currently listed for sale in this area. That’s pretty darn high, over 2 years of inventory for sale right now, market times are slow here, as in much of the Bitterroot.

Further south of Stevensville is the very small community known as Victor. Victor used to actually go by the name of Garfield but had its town name changed to reflect a former American Indian Chief who was once chief of the nearby Salish Tribe. Victor was an area that Lewis and Clark originally passed through as well on their way to the Pacific. The town of Victor today is about a block-long with some historical buildings that house local businesses and a bank. This area consists of overall of many larger homes and ranches.

Looking at the 2010 number in Victor there were 28 total sales with a median sales price of $289,000. In 2010 the local MLS shows that there were no foreclosures sold and the median time on market was 208 days. The next year in 2011 the amount of sales has gone up to 36 but the median sales price has dropped to $247,000. There were 6 foreclosure sales overall and the median time on market really extended out to 363 days.

The running 12-month absorption rate for Victor right now shows 25 months’ worth of inventory listed for sale in the market. With over 2 years of active supply and a median market time of practically 1 year to say the market is slow in Victor is an understatement.