Is Missoula, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Missoula has remained a Seller's Market.
Key Takeaway
Missoula is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Missoula, MT
How much do homes in Missoula, MT cost?
Median Sold Price
$559,049
$304/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Missoula have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in Missoula was $559,049 in November 2023, up 4.6% from last year, and the median price per square foot was $304.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $282.5K | $274.5K | -2.8% |
| 2 Bedrooms | $385K | $400K | +3.9% |
| 3 Bedrooms | $526.4K | $540K | +2.6% |
| 4 Bedrooms | $625K | $680K | +8.8% |
| 5+ Bedrooms | $729.3K | $750.5K | +2.9% |
Summary: Missoula housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Lolo | $569.6K | $608.7K | +6.9% |
| Missoula | $534.3K | $559K | +4.6% |
| Frenchtown-Wye | $662K | $606.3K | -8.4% |
Housing Supply in Missoula, MT
How many homes are available in Missoula, MT?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 325 | 300 | -7.7% |
Summary: The Missoula real estate market had 300 homes for sale in November 2023, a 7.7% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 10 | +42.9% |
| 2 Bedrooms | 51 | 49 | -3.9% |
| 3 Bedrooms | 125 | 108 | -13.6% |
| 4 Bedrooms | 84 | 80 | -4.8% |
| 5+ Bedrooms | 58 | 53 | -8.6% |
Summary: The Missoula housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 42.9%, 2 bedroom homes decreased by 3.9%, 3 bedroom homes decreased by 13.6%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 8.6%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 73 | 64 | -12.3% |
Asking Price vs. Sold Price
45 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Missoula, you may be able to get a good deal. 70.3% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Missoula in November 2023, down by 12.3% month-over-month. Of the 64 sold homes, 70% were sold under asking, 14% were sold at asking, and 16% were sold over asking.
Days on Market for Missoula, MT
How long does it take to sell a home in Missoula, MT?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 70 Days | 60 Days | -13.7% |
Summary: Homes in Missoula had an average of 60 days on market in Nov 2023, down by 13.7% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
32 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Missoula has remained consistent over time.
Summary: During November 2023, 64 homes were sold in Missoula; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of the Montana Regional Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright© 2023 Montana Regional Multiple Listing Service, Inc. All Rights Reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Gallatin Association of Realtors/Big Sky Country MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2023 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.