Taking a quick snapshot at our market and how it's doing, looking at what's currently active vs what has sold in the last 31 days:
$0 - $150k: 70 active / 21 sold = 3.33 months
$150k - $200k: 187 active / 22 sold = 8.5 months
$200k - $275k: 146 active / 28 sold = 5.2 months
$275k - $350k: 100 active / 22 sold = 4.5 months
$350k - $425k: 38 active / 5 sold = 7.6 months
$425k+: 134 active / 5 sold = 26.8 months
Total market: 675 active / 103 sold = 6.55 months
Wow, Missoula's summer market continues to be very strong. As you can see activity from $0 all the way up to $350,000 has seen a steady amount of sales across all of the points and the only area that's really beat up with too much inventory is the $425,000 and up market, for now. Our total market is pretty close to being in balance and usually at this time we're a little heavy on supply.
Looking at numbers to date:
- 180 listings marked under contract / under contract - backup / under contract - short sale
- 489 listings sold ytd (up 81 units YTD over 2011 or 19.9%)
- Median sales price of $208,000 (up $5,556 YTD over 2011 or 2.8%)
- Average DOM of 124 (down 8 days YTD over 2011 or 6%)
So yeah... it's been a good summer!
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