trends: First look at Missoula's 2013 Real Estate stats - 01/20/14 06:58 AM
While we're already just about 3 weeks into the new year I figured it was as good a time as any to give you all an early look at how the residential real estate market in Missoula turned out.  As you'll see in the charts below Missoula has seen continued recovery, which is great.  There are some other mixed signals coming out now and some challenges ahead, I'll touch on those in a bit.
First off, how did Missoula do in 2013?  The quick answer, pretty darn good.  Missoula's residential market saw it's sales figures climb back up over 1000 homes … (18 comments)

trends: Missoula's first 5 months show continued market recovery - 05/09/13 03:09 AM
I've been keeping an eye on sales volume and trends in the Missoula MLS and I wanted to quickly share some numbers that have stood out to me.  In particular April, which was a huge month for our area.  This is not just sales in the Missoula valley but within our entire MLS.  What we're seeing so far is continued market volume recovery.  The most recent numbers that I've pulled show our reported amount of sales in the MLS puts the greater area at higher volume than this time in 2008 and just under the pace of this time in 2007. … (0 comments)

trends: Missoula's 1st quarter shows continued volume recovery - 04/03/13 03:36 AM
It appears we're seeing more good news that the Missoula residential market is on a steady pace of recovery.  Now that the 1st quarter is in the books I looked back at the amount of sales volume, the median sales price, the impact of REO/Foreclosure sales, and the amount of market supply.  The data shows pretty good news for the most part, continued volume recovery, fewer REO sales, and about as normal of market supply as one could hope for.  This is not without challenges though as we see the median sales prices are down yet again and some segments of … (0 comments)

trends: Neighborhood year-end stats, Mullan Road / Expressway - 01/27/13 07:00 AM
Ahh the Mullan Road area, the fastest growing area of town and the place I call home.  Of course our main attraction out here is "North Reserve" which is full of the typical big-box commercial stores you'd find in towns all across the US.  This area features a school that is bursting at the seams, I've got a daughter in kindergarten there and there are 8 total kindergarten classes this year.  This area features a predominant mix of medium sized planned neighborhoods.
I've also lumped together the larger neighborhoods one finds out Expressway which is north of Broadway and out by … (1 comments)

trends: Neighborhood year-end stats, Rose Park/Slant Streets - 01/25/13 01:19 AM
A little history lesson, as I was always told - who knows maybe it's just a myth.  Missoula used to just be north of the Clark Fork River however as it began to expand a few prominent families moved south of the river and streets/city blocks begun to form.  The Higgins family and Stephens family were two that were early movers, however the construction of their homes did not match up with the standard grid lot and block system.  As I've been told the Stephens family had their home at an angle and the road past their place (which would become … (0 comments)

trends: Is it the best time to get a steal in Missoula? - 07/26/12 08:12 AM
The other day at the Missoula Organization of Realtors board meeting the discussion came up that a lot of reports you see which show the list price of a home compared to the sales price isn't the most accurate.  One of my colleagues pointed out that the MLS grabs the price at the time the offer was written and not the original listing price.  With a recent update to our MLS system a newer export code popped up for "original price" which allowed me to export original listing price and compare it to final sales price.
So for fun, I downloaded … (0 comments)

trends: Mid-summer absorption rates for Missoula - 07/24/12 02:11 AM
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 … (0 comments)

trends: Missoula's 1st half shaping up nicely - 05/14/12 09:07 AM
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)

trends: Some Saturday morning stats - 05/05/12 02:03 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)

trends: Missoula area absorption rates - early March - 03/04/12 11:56 PM
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)

trends: The impact of foreclosures this year in Missoula - 03/03/12 12:09 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)

trends: Missoula's continuing its strong start to the year, but... - 02/24/12 12:48 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)

trends: Sharing my numbers from last night's news report - 02/02/12 04:21 AM
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)

trends: Western Montana Community Trends: Florence - 01/18/12 09:48 AM
As promised, I wanted to put together some similar reports on the trends happening the MLS area due south of Missoula in the Bitterroot Valley.  Our markets blend together quite a bit and I thought it would be usedful to share some of the news from the Bitterroot as well.
First up is Florence, the furthest northern community in Ravalli county, it's actually a much quicker drive to Missoula than to the county seat Hamilton.  Florence is a small cluster of commercial buildings, mostly a large travel center, a small strip mall, and a few restaurants with the rest of the … (0 comments)

trends: Putting it all together, Missoula's Neighborhoods - 01/10/12 08:15 AM
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)

trends: Missoula's neighborhood trends, Frenchtown - 01/10/12 06:58 AM
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)

trends: Missoula's neighborhood trends, East Missoula, Bonner, Turah, Clinton - 01/10/12 06:44 AM
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)

trends: Missoula's neighborhood trends, Lolo - 01/10/12 06:30 AM
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)

trends: Instant Classic - Caps Lock, unleash the fury! - 01/09/12 10:52 AM
Sharing this one again:
 
Not newsworthy, but funny, I guess.
Today I put together a list of houses in our MLS that are listed as either short-sale (selling for less than what's owed on the house), or foreclosure properties. There were a handful, 29 out 280 in the price range of $200,000 - $300,000. However about every 5 or 6 listings I noticed that the agents in their remarks would either type in all caps, or type some features in caps.
According to the National Association of Realtors I think the average age of Realtors is somewhere in the 50's, … (1 comments)

trends: Missoula's neighborhood trends, Grant Creek / Goodan / Butler Creek - 01/09/12 10:43 AM
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)

 
Brint Wahlberg, The Wahlberg Team (Windermere Real Estate) Rainmaker large

Brint Wahlberg

The Wahlberg Team

Missoula, MT

More about me…

Windermere Real Estate

Address: 2800 S. Reserve Street, Missoula, MT, 59801

Office: (406) 541-6550

Mobile: (406) 529-4663

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