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Missoula's neighborhood trends, Mullan Road and Expressway
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 median sales price was $192,000. The average time on market was a little longer at 142, but that's largely due to a lot of new construction being sold which will expand days on market of a listing. The median listing price was $194,500 so houses were selling for 99% of their original listing price. There were 11 foreclosure sales in this area for 2010.
Moving forward a year in 2011 there were 146 residential sales with a median sales price of $199,950. The average market time for the homes that sold shrunk by just a few days at 136. ... more
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