Access Realty

Missoula Real Estate Market Update - August 1, 2009

During the month of July, Missoula saw a dip in the median home price on homes that were sold during the month. For the year, however, that decrease is low. In the Missoula real estate market the median price is down only about 1% as compared to other areas of the country that saw a significant drop in home prices.

There is a lot for buyers to choose from on the market currently which does indicate a buyer's market. Active listings are up about 25% at the end of August compared to the end of January. And foreclosures account for about 14% of that market (compared to 50% and higher in some of the most distressed markets).

There are reasons for optimism that the Missoula real estate market has stabilized including an increase in sales activity during the month of August and the early part of September, including increased calls and showing.

Residential Market Activity in the Missoula Urban Area
(residential, AND residential with acreage)

Missoula Urban Area - Month of July

Missoula Urban Area - YTD - January 1 through July 31, 2009

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.

Source: Missoula Organization of Realtors (R) Market information solely from listings entered into the MOR Regional Multiple Listing Service. Therefore, figures may not reflect all real estate activity in the market.

For questions on the Missoula or Western Montana Real Estate Market, contact Access Realty at 406-822-SOLD (7653) or visit us online at www.AccessRealty.net.

"Best Community in the West." --Sunset Magazine, about Missoula

Missoula Real Estate - Year to Date Market Activity Report

So far this year, Missoula Montana has seen 51 homes sold ranging from $95,000 up to $600,000. The average sale price being $263,364 and the median being $236,100. This is in contrast to the same time period last year where Missoula saw 83 homes sell ranging from $31,900 all the way to $1.56M. Last years average sale price for homes in Missoula for the same period was $256,442 and the median was $208,316. While the number of homes sold is down almost 40%, the average sales price has risen almost 3% (nearly $7,000).

2009 Year to Date:

2008 January 1st through February 17th:

For more information on Missoula Real Estate contact Access Realty's Buyer & Seller's Agents at 406-822-SOLD (7653) or 406-207-1185. You can also visit our website at www.AccessRealty.net.

Search the Missoula MLS

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

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

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.