Is Missoula, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
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
$560,281
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Missoula have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Missoula was $560,281 in March 2024, up 3.6% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $285K | $282K | -1.1% |
| 2 Bedrooms | $385K | $400K | +3.9% |
| 3 Bedrooms | $530K | $550K | +3.8% |
| 4 Bedrooms | $624.9K | $670K | +7.2% |
| 5+ Bedrooms | $735K | $750K | +2.0% |
Summary: Missoula housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.1%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 7.2%, and 5+ bedroom homes increased by 2%.
Median Sold Price Compared To Nearby Cities
| Lolo | $552.5K | $598.2K | +8.3% |
| Missoula | $540.7K | $560.2K | +3.6% |
| Frenchtown-Wye | $665.5K | $612.5K | -8.0% |
Housing Supply in Missoula, MT
How many homes are available in Missoula, MT?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 241 | 277 | +14.9% |
Summary: The Missoula real estate market had 277 homes for sale in March 2024, a 14.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 8 | 0.0% |
| 2 Bedrooms | 45 | 58 | +28.9% |
| 3 Bedrooms | 96 | 108 | +12.5% |
| 4 Bedrooms | 56 | 62 | +10.7% |
| 5+ Bedrooms | 36 | 41 | +13.9% |
Summary: The Missoula housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.9%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes increased by 13.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 51 | 60 | +17.6% |
Asking Price vs. Sold Price
41 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Missoula, you may be able to get a good deal. 68.3% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Missoula in March 2024, up by 17.6% month-over-month. Of the 60 sold homes, 68% were sold under asking, 13% were sold at asking, and 18% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 81 Days | 124 Days | +51.5% |
Summary: Homes in Missoula had an average of 124 days on market in Mar 2024, up by 51.5% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
32 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Missoula are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 60 homes were sold in Missoula; 20% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 53% 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© 2024 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© 2024 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.