As we continue further south down the Bitterroot Valley our next community encountered is Corvallis. Another small town core with surrounding neighborhoods on larger parcels of land similar to Victor Corvallis features the Daly Mansion found just south of town, a popular attraction to visit and a place where you’ll find many weddings over the summer and fall. Corvallis unlike Stevensville and Victor does blend with it’s neighboring town, Hamilton.
For 2010 in Corvallis I found that there were 59 residential sales with a median sales price of $239,000. There was just 1 foreclosure sale and the median time on market was 168 days overall. Moving forward to 2011 the amount of sales dipped slightly to 57 overall and the median price dropped a bit as well to $225,000. The amount of foreclosures climbed to 12 and the median time on market also extended to 201.
The running 12-month absorption rates for Corvallis show that there’s 25.5 months of inventory currently listed for sale in this area. That’s pretty darn high, over 2 years of inventory for sale right now, market times are slow here, as in much of the Bitterroot.