stats: Prepare yourselves.... - 05/21/12 07:45 AM
I'm just finishing up some broken apart reports by zip code for the greater Missoula and Lolo area as well as some city and county-wide stats. I should have them up this afternoon and tomorrow! Blog overload soon to come!
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stats: 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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stats: 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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stats: 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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stats: 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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stats: 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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stats: Year end reviews and numbers on Missoula's neighborhoods - 01/03/12 02:21 PM
I thought as a fun way to kick off 2012 would be to do an overview report of Missoula's various neighborhoods to show the activity of 2011, how that compared to 2010, and give some thoughts/opinions on what those areas might expect for 2012.
The neighborhoods I'll break apart as follows:
- Rattlesnake
- Downtown/Northside/Old Westside
- University Area / Slant Streets
- Farviews and South Hills
- Lewis and Clark / south-central area
- Central Missoula
- Miller Creek (Linda Vista and Maloney as well as Upper Miller Creek)
- Target Range
- Mullan Road & Expressway
- Grant Creek
… (0 comments)
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stats: Missoula's final absorption rates for 2011 - 12/22/11 01:03 PM
OK from two perspectives, first we'll do a 30 day look-back and then a 6 month look-back for a broad perspective. As always my data comes from the Missoula Organization of Realtors MLS. Additionally I sort our data by the brackets that MOR uses as well.
Absorption rates represent how much inventory is currently listed on the market. What I put together is all active listings and then divide that number by the amount of sold properties. On the 30 day look-back I pull all the sold numbers from that 30 day time span. On the 6 month I do the … (0 comments)
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stats: My letter to NAR regarding the recent reports of their data errors - 12/21/11 04:41 PM
Mailed today:
December 21, 2011
Attn: Moe Veissi and NAR Leadership
National Association of Realtors
430 N. Michigan Ave
Chicago, IL 60611
Moe and NAR leaders;
The REALTOR® image has taken another hard hit this week thanks to the erroneous reporting of the National Association of REALTORS® over the course of 2007 through most of 2011. The news of this error has left me frustrated and upset with NAR. While this news does not necessarily have an impact on future of real estate sales and trends it does have a major impact on the … (4 comments)
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stats: With about 2 weeks left in 2011 how's Missoula looking, statistically? - 12/18/11 06:12 PM
Since I can't look at my Christmas presents early I figured I'd look at Missoula's market summary early to see what's waiting for the upcoming year end report. This year has been a very interesting one and we can finally start measuring actual market recovery now that we're comparing similar markets for most of the 3rd qtr and all of the 4th qtr of this year.
So... lets refresh, for the Missoula market (not including Lolo, Frenchtown, & surrounding areas)
2010:
- 830 residential sales
- $201,240 median sales price
- average of 122 days on market
- 46 foreclosure sales making … (1 comments)
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stats: National Triple Dip? What about Missoula, MT? - 10/31/11 03:45 PM
This morning while still trying to motivate myself out of bed I was scrolling through the CNN Money headlines on my crackberry when I saw the headline "Home Prices Heading for Triple Dip."
http://money.cnn.com/2011/10/31/real_estate/home_prices/index.htm?iid=HP_LN
Ah dangit, that's not a good way for a REALTOR(R) to start his day. But of course I know that there's always more to the story than a scary headline, it is Halloween after all. As REALTORS(R) we've trained our base and a majority of the public that each market is different and what's happening nationally may not be happening locally. So my next step was to start … (2 comments)
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stats: Time to get back to comparing apples to apples - 10/28/11 01:54 PM
If a lot of stat-dork REALTORS(R) like me have been constantly fuming about the continually incorrect messages the media has been sending out comparing 2010 to 2011, it's good to see that now when we look back to last year we're comparing similar markets. For many of us in the industry we realized that over the course of 2009 and 2010 until August our market was heavy with incentives with the first time and "move up" home buyer tax credit. Due to these added incentives those markets could not be accurately compared to 2010's which lacked any government-backed incentive such as the … (0 comments)
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stats: Early 2010 stats for Missoula - 01/06/11 04:19 PM
I'll give you both sides of the argument and leave it up to you the readers to decide! These numbers aren't official as some records are usually a little delayed in reporting, but they'll give you the general idea. As always, my source is from the Missoula Organization of REALTORS(R) MLS.
2010 Sales Statistics for Missoula (Residential):
- 830 total sales. Compare to 913 in 2009, a decrease of 9% in volume. The peak year was 2006 which had 1443 sales so the 2010 numbers reflect a staggering 42.5% decrease from the peak. What's interesting though is this summer we saw … (0 comments)
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stats: Zillow strikes again, and why they lead better than most associations - 12/09/10 12:11 PM
“American home values dropped $1.7 trillion”
http://money.cnn.com/2010/12/09/real_estate/home_value/index.htm?hpt=T2
Zillow is a very interesting and comprehensive site, in fact I noticed that just last week despite years and years of suggestions that REALTOR(R) organizations take the lead on ratings and reviews Zillow will now take the lead on ratings and reviews. The continued crux of association leadership is the concern that, “what will this do to the agents that get bad reviews?!?” (To answer, push them out of the business hopefully!) However there’s concern with leadership across the board that associations should not take aggressive steps such as ratings and reviews because the … (1 comments)
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stats: National Housing Sales up 10% - what about Missoula? - 10/25/10 01:05 PM
http://money.cnn.com/2010/10/25/news/economy/existing_home_sales/index.htm?hpt=T2
Some very good news on the national scene, we're seeing housing units still recovering in a post-tax credit market. I remember my 1st day in economics class when my professor told me, "People respond to incentives," and so last year's numbers and activity shows that the overall action was inflated due to a great tax-credit for many 1st time home buyers. There has been a lot of talk about the post-tax credit market, and that it would dip but then slowly recover. So far, that suggestion (coming from NAR cheif economist Lawrence Yun) is exactly what we're seeing nationally. A 10% increase from September from … (7 comments)
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stats: A good August for the nation, not so much for Missoula - 09/23/10 01:22 PM
So I was reading this CNN/Money article today: http://money.cnn.com/2010/09/23/news/economy/existing_home_sales/index.htm?hpt=T2
It talks about how existing sales rebounded in August, up from a big slide in July. I thought I’d check it compared to Missoula and unfortunately the news isn’t the prettiest. So lets look at the basic news nationally, we’ve got 11.6 months of listed inventory, sales came up 7.6% in August compared to July, and the August median sales price nationally was $178,600.
Now, look at Missoula’s August: 52 sales, median sales price of $195,300, and about a 16.8 month supply of inventory overall. Furthermore there were 82 sales in July … (0 comments)
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stats: The latest news from the Missoula Organization of Realtors - 09/08/10 12:16 AM
I just typed up a report for the Montana Association of REALTORS(R) yearly end of business meetings, it's all relevant stuff about what's been going on here and so I thought I'd share it here! Message as follows:
Residential market, urban Missoula area:
YTD sales: 595, which is almost exactly on point to where it was last year at this time which was 597 sold homes. The difference is that the current YTD median sales price for this year is $199,900 while at this same point last year it was $214,000. This reduction in the median sales price, 6.6% … (0 comments)
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stats: Lets Talk Supply - 07/31/10 02:06 AM
A Blog I read quite often is called The Calculated Risk Blog, in this story: http://www.calculatedriskblog.com/2010/07/existing-homes-double-digit-months-of.html the story I've linked to talks about expected supply of double digits in the months to come regarding re-sale homes. CRB expects supply of existing homes to get into double digits and stay there for a while. Usually when we talk supply 8 months or less is considered a "healthy" market. Based on this blog I thought I'd see how Missoula stacks up.
Missoula active listed inventory: 941
Sales to date: 522
Using the CRB math for supply: 941/522 * 7 = 12.62 months so a slightly over-stocked market. That's the total … (3 comments)
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stats: Looming housing shortage, and what it means for Missoula, MT - 07/26/10 02:55 PM
Two weeks back in Washington DC for the Realtor mid-year meetings I was pretty surprised to hear both Lawrence Yun and an economist with Moody's talk about an upcoming new construction housing shortage. Yun talked about on average the US needs to be building about 1.6 million new homes per year, however in the last 3 years new builds are non-existent, and that currently the US is about 2.35 million homes short of meeting that need. So what does that mean in the future? A big shortage, and in doing a simple Google search I can see it's not just the … (0 comments)
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stats: Market Comparison Research - 07/26/10 02:22 PM
Lets take a look at an array of stats (For Missoula urban area only):
1/1/2010 - 7/26/2010 Sales: 504 houses
1/1/2010 - 7/26/2010 Median: $199,900
1/1/2009 - 7/26/2009 Sales: 464 houses
1/1/2009 - 7/26/2009 Median: $215,000
My analysis: Neither of these numbers are overwhelmingly surprising, the first half of last year was when the tax credits were just taking hold, interest rates were higher and the stock market collapse was still resonating for everybody. Until March of 2009 I believe the tax credit for 1st time buyers was very different ($7500 and you had to pay it back) so the market was not dominated by … (0 comments)
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