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.
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
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
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
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.