missoula: Missoula's 1st half shaping up nicely - 05/14/12 04:07 PM
Missoula's good news with sales volume continues to roll in. Right now (5/14) within just our valley and not looking at further out communities Missoula is up 32 residential sales compared to this time last year which represents a nearly 14.6% increase in volume sold. Buyers are flooding the market with increased purchasing power and some more favorable conventional loan programs sneaking back into the scene.
We're still 45 days out from the end of the 2nd quarter however if you tally up the sold homes so far in the MLS plus what is pending sale we could be looking … (0 comments)
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missoula: Some Saturday morning stats - 05/05/12 09:03 AM
It's a cool and raining morning so while having a cup of coffee while the kiddos watch a few cartoons I figured I'd take a look at how Missoula is doing statistically so far this year. This is looking 1/1 - 5/5 in the given year.
For 2012:
- 231 homes sold YTD with a median sales price of $201,000,
In 2011:
- 199 homes sold with a median sales price of $204,000
In 2010: (keep in mind 1st time buyer tax credit influenced market):
- 257 homes sold with a median sales price of $195,000
In 2009:
- 209 … (1 comments)
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missoula: Missoula area absorption rates - early March - 03/05/12 07:56 AM
Yesterday was a beautiful day in the valley, highs near 60 degrees and lots of sunshine. In my almost 13 years in the business I've seen that many times when the sun starts shining and it begins to warm up, buyer activity seems to increase as well. With the spring market starting to arrive I thought I'd put together a quick look at the last 30 days absorption rates to see where Missoula's inventory levels are sitting in early March.
As a quick refresher, the absorption rate represents the total amount of supply currently listed for sale in our market. I … (0 comments)
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missoula: The impact of foreclosures this year in Missoula - 03/03/12 08:09 AM
I've been keeping a sharp eye on foreclosures in our area and how they're impacting our overall market. This year it is projected that the biggest wave of the shadow inventory will start to hit the market as the "robo-signing" delays in the release of foreclosed properties is now behind us. From my earlier posts this year my concerns are that 2012 will have a negative effect on the median home values, and the large cause could be foreclosures coming up for sale. I'll explore more into the median home value impact at the end of the 1st quarter when I've got … (1 comments)
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missoula: Missoula's continuing its strong start to the year, but... - 02/24/12 08:48 AM
Volume in Missoula continues to do well, today is Februrary 24th (77 residential sales in the Missoula Valley YTD / 177 total sales in the MLS YTD). Missoula as well as the entire MLS have not out-paced our quicker start in volume of sales since 2008... that's right pre "bubble" considering it was the start of 2008. I went back and looked at volume of 1/1 - 2/24 going all the way back to 2003, you can see the "ramp-up" and the cool down, and now the slow and steady volume recovery. I'm very encouraged to see that volume is continuing … (0 comments)
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missoula: Starting the year off strong: Missoula's early numbers - 02/11/12 02:05 PM
It's bee a time of reflection for me, just about 1 year ago my mother decided to close down the local RE/MAX franchise that she'd owned for 16 years. As a group most of our office joined up with the local Windermere office and we've loved it. The Missoula market was very choppy at that time, our early winter/spring was the worst we'd seen in terms of volume. We came out of the winter with a solid summer market but the lasting effects of a down winter wound up putting Missoula's volume of sales at another decline compared to the years … (1 comments)
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missoula: Sharing my numbers from last night's news report - 02/02/12 12:21 PM
I had a nice opportunity to do a little interview with our local NBC affiliate. The only thing I wish I would've done better was notice my tie! It's all I see when I watch this, should've not worn it or tightened it, haha.
http://www.nbcmontana.com/news/30355875/detail.html
Brint Wahlberg
REALTOR®
Windermere Real Estate
406-529-4663
While the Missoula Organization of Realtors (MOR) releases a much more comprehensive market report that won’t occur until the early spring. All of the data I’m providing I retrieved from the MOR multiple listing service.
Numbers for just Missoula (does not include Lolo, Frenchtown, or Bonner … (0 comments)
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missoula: A very cool montage of memorable images around Missoula - 01/18/12 09:31 PM
This video has been making the rounds on facebook and via email. THis was put together by a local student here in town that stiched together this animation that consists of many of the familiar sights you see around town.
It's pretty cool, I thought it'd be fun to share!
http://www.youtube.com/watch?v=LDpabLDK83E
… (2 comments)
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missoula: Putting it all together, Missoula's Neighborhoods - 01/10/12 04:15 PM
So now that we've done single re-caps of the segmented neighborhoods and surrounding communities of Missoula, lets put this data together in some easy to understand charts and data.
First off, looking at how each area did from 2010 to 2011 in terms of their median sales price. You'll see in the chart below that we're looking at most areas still are experiencing a negative affect on their median values over the course of 2010 to 2011. I had speculated that some areas could see a bit of median recovery in 2011 due to the exit of the overwhelming presence … (1 comments)
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missoula: Missoula's neighborhood trends, Frenchtown - 01/10/12 02:58 PM
My last one! The Frenchtown area sits about 12 to 16 miles west of Missoula heading down I-90, it's fairly spread-out but does feature a small town core that has a few commercial businesses, a grade school and high school, and even a nice little golf course. You can find some homes on smaller lots but the majority of homes you'll find in Frenchtown are bigger homes on larger parcels of land. For the sake of applying some sort of boundaries to this area the region in which I'm pulling data from stretches as far east as Hwy 93 North (known … (0 comments)
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missoula: Missoula's neighborhood trends, East Missoula, Bonner, Turah, Clinton - 01/10/12 02:44 PM
Continuing my trends research looking at 2010 and 2011 I did want to see what was happening in areas around Missoula as well. While this is really 4 communities it's mashed into just 2 MLS "regions" and easier to combine than to break apart. East Missoula is a small extension of our city, it's located on the other end of the Hellgate Canyon and features a mix of older and newer housing. Bonner was built up around the now closed down lumber mill that has a small cluster of older company housing built up against the hillside, there's also a small … (0 comments)
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missoula: Missoula's neighborhood trends, Lolo - 01/10/12 02:30 PM
All so often Missoula's surrounding communities are not mentioned when we talk numbers and stats, so for my year-end reports I picked the three that are close to Missoula. This isn't so much a "neighborhood" report as it is a community or town report. First off, lets start with Lolo. Lolo is just 8 miles south of Missoula via highway 93. It began to grow very rapidly during the boom years of the early 2000's as it was considered a more affordable alternative to Missoula and a very quick trip for commuters. Lolo has grappled with it's growth and maintaining it's … (0 comments)
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missoula: Missoula's neighborhood trends, Grant Creek / Goodan / Butler Creek - 01/09/12 06:43 PM
Grant Creek, the Goodan/Keil roads, and Butler Creek make up the more northwestern area of Missoula, a little more isolated from the rest of town these areas feature a few pocket-subdivisions that consist of mostly higher-end homes and then a mix of newer housing that sits of good sized parcels of land. Many of which of these properties you'll still find barns, pastures, and horses on!
Starting with 2010 we saw just 18 sales with a median sales price at $305,250. The average days on market for these 18 sales was 189 days. The median listing price was at $314,900, … (0 comments)
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missoula: Missoula's neighborhood trends, Mullan Road and Expressway - 01/05/12 06:34 PM
The western side of town that encompasses the dreaded "North Reserve" commercial area is the part of town that has been experiencing the most growth that I've seen over the last decade. This area features many large-scale higher density neighborhoods with homes on lot sizes that range from 3,000 to 7,000 square feet. As Mullan Road heads further west the area opens up into many larger home neighborhoods with houses on 1 or more acres as well.
In 2010 there were 174 residential properties sold in this area, largely driven by the 1st time home buyers tax credit, and the … (0 comments)
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missoula: Missoula's Neighborhood Trends, Target Range, Blue Mountain, Big Flat, Orchard Homes - 01/05/12 06:06 PM
The western and southern side of our valley features areas that are a heavy mix of rural properties peppered with some developments as well as streets featuring rows of homes that sit on 1 to 5 acres. The Big Flat area is largely still ranch and open space with some very large homes and higher-end subdivisions as well. Missoula's growth in this direction has slowed a bit over the course of the recession but as our valley continues to run out of space watch for Target Range to continue to struggle with maintaining their rural identity while growth returns to their … (0 comments)
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missoula: Missoula's Neighborhood Trends, Miller Creek (Linda Vista & Maloney Ranch) - 01/05/12 05:44 PM
When I first started in real estate I witnessed the end of the "golden era" for Linda Vista. A stereotypical 90's built neighborhood on the south-western foothills of Missoula this area features winding cul-de-sacs, large homes with forward facing garages, and homes that featured mostly pastel exterior colors. This neighborhood as well as it's adjoining neighborhoods, Southpointe and Maloney Ranch couldn't be built fast enough as many of Missoula's Baby Boomer generation had their dream homes custom built for them. Outside of these sprawling neighborhoods there's also some mixed large-lot homes and ranches as well as some newer subdivisions that feature … (1 comments)
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missoula: Missoula's Neighborhood Trends, Central Missoula - 01/05/12 05:28 PM
Central Missoula, an area most easily identified as falling between Russell and Reserve street, used to actually be on the outskirts of town and featured homes on larger parcels of lands with farms and homesteads spread all around. As Missoula grew around this area it became incorporated with the city and started to fill in. Today you’ll find homes of all ages in this area, old and new, as well as some condos, townhomes, and multi-unit apartment buildings. Additionally you’ll even come across two farms that are still active as well as a few large fields where you’ll find horses or … (0 comments)
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missoula: Missoula's neighborhood trends, Lewis & Clark / South-Central Missoula - 01/05/12 12:57 PM
The south-central area of Missoula in the valley is widely referred to as the "Lewis and Clark" neighborhood as the elementary school servicing most all of that area is Lewis and Clark Elementary. This area features mostly 60's through 80's built homes, many are ranchers of varying sizes, but many of which are larger than those you'd find in the South Hills area. Additionally there is some over-lap just to the west of Russell Street but to the east of Brooks that is included in this area as well.
Starting with 2010 I'm getting a return of 48 total sales … (0 comments)
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missoula: Missoula's neighborhood trends, Farviews and South Hills - 01/05/12 12:37 PM
When standing in the Missoula valley these two areas make up most all of the hillside homes you'll see on the south end of the valley that have been built up mostly before the mid-1980's. A little more south and west you'll find the newer neighborhoods in Linda Vista and Maloney Ranch, I'll report them in a separate post. Generally it seems that Missoula started expanding first in the Farviews area in the 50's and 60's and then moved across to the South Hills area in the 70's and 80's. The styles of homes follow suit. Farviews boasts a lot of … (0 comments)
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missoula: Missoula's neighborhood trends, University Area / Slant Streets - 01/05/12 12:19 PM
The University area is home to a wide array of older houses full of character and charm. It's a neighborhood that's blended with long-time Missoula residents, families, and students attending school. It's actually the area I grew up in, so it holds a special place for me. The slant streets, aptly named b/c they "slant" at an angle off Higgins avenue neighbor the University area and feature a similar mix of homes but also blends in more houses built in the 50's, 60's, and 70's as well. Both neighborhoods largely feature boulevard areas with maple trees that can be found on … (0 comments)
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