Western Montana's Community Trends, Stevensville

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Real Estate Agent with Windermere Real Estate 11741

 

Moving south from Florence we head to the oldest town in Montana, Stevensville.  Originally founded in 1841 when missionaries set up camp and built a small mission where "Stevi" exists today.  Shortly after that a trading post known as Fort Owen Inn set up shop in the area and Stevi began to grow.  The greater area consists of the small town which is about 1500 people and the large surrounding area that includes many homes on large parcels of land as well.

 

 Looking at the numbers in Stevi in 2010 there were 73 sales with a median sales price of $225,000, 15 of these sales were foreclosures.  The median time on market for these homes was 153 days.  Moving forward to to 2011 the amount of sales went up to 83 overall and the median price dipped to $189,500.  Foreclosures went down to 14 overall and the median time on market went up to 168 days overall.

 

In calculating the running 12-month absorption rates in the Stevi area right now there is 23.6 months worth of inventory listed for sale in this area, showing a pretty high supply in a market that takes quite some time to get a home sold.

 

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