The Missoula Real Estate market enjoyed a burst of activity in late February and early March with a flurry of buyers and many new homes going under contract.
Missoula has also been fortunate that our housing prices have held their value better than many areas of the country. In February, the Median Home Price actually increased significantly from 2008 and the number of sales in the Missoula Urban Area was almost the same.
Residential Market Activity in the Missoula Urban Area
(residential, AND residential with acreage)
Missoula Urban Area - Month of February
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 43 | $ 240,000 | 152 |
| 2008 | 44 | $213,000 | 158 |
| 2007 | 63 | $178,500 | 119 |
| 2006 | 75 | $199,500 | 117 |
| 2005 | 48 | $162,750 | 131 |
| 2004 | 57 | $159,942 | 140 |
Missoula Urban Area - YTD - January 1 through February 28, 2009
| Year | # of Sales | Median Price | Avg Days on Market |
| 2009 | 78 | $237,550 | 147 |
| 2008 | 99 | $214,000 | 125 |
| 2007 | 131 | $191,815 | 124 |
| 2006 | 151 | $195,000 | 123 |
| 2005 | 117 | $169,900 | 117 |
| 2004 | 120 | $159,971 | 130 |
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.
The national media is beginning to take note that not every market is reflecting the national housing downturn. The New York Times singled out Missoula as a ‘stable' market. And a real estate forecasting service called "Housing Predictor" says "They've dodged the bullet in the nation's housing depression in North Dakota and Montana."
Data Source: The Missoula Organization of Realtors (R)
For More Information on the Missoula Housing Market & Economy, you can read:
Missoula Real Estate - Rosy Compared to the Rest of the Country
A Breath of Fresh Air - A Positive Outlook for Montana's Economy
Missoula Predicted to Be in the Top 25 for Housing Real Estate Markets in 2009!
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