Market Snapshot

Housing Sales and Prices
The real estate market in Missoula picked up in 2015, with increased sales activity and a median sales price that climbed to a record high for the Missoula area—$238,700. The largest number of sales occurred in the $200,000 to $275,000 price range, but demand for these more affordable homes exceeds the actual supply, and that has created a sellers’ market for most price points under $275,000. More expensive homes had a challenged market until the third and fourth quarter of 2015, when the absorption rate finally fell into a more normal range. Meanwhile, single family homes in Missoula are steadily appreciating, with repeat home prices higher than other Montana markets and the national average.

What’s happening in the Missoula Real Estate Market?

Residential Market Activity in the Missoula Urban Area, Year to date (residential, and residential with acreage).

Market information solely from listings entered into the Missoula Organization of REALTORS ® Regional Multiple Listing Service. Therefore, figures may not reflect all real estate activity in the market. 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 niche communities within the county.

Missoula Urban Area YTD Jan 1 – May 31, 2016
Year # of Sales Median Price Avg Days on Market

2016 335 $256,000 133
2015 129 $239,950 144
2014 267 $225,000 170
2013 258 $216,000 197
2012 257 $214,450 191
2011 221 $201,369 236

Missoula County YTD Jan 1 – May 31, 2016
Year # of Sales Median Price Avg Days on Market

2016 526 $240,000 151
2015 481 $232,500 150
2014 415 $216,000 188
2013 534 $211,900 190
2012 393 $203,000 208
2011 319 $197,500 232

Provided by:
Missoula Organization of Realtors
(406) 728-0560