Is Lolo, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lolo has remained a Seller's Market.
Key Takeaway
Lolo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lolo, MT
How much do homes in Lolo, MT cost?
Median Sold Price
$592,500
$281/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lolo have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Lolo was $592,500 in May 2024, up 8.7% from last year, and the median price per square foot was $281.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $434.5K | - | N/A |
| 2 Bedrooms | $420K | $457K | +8.8% |
| 3 Bedrooms | $520K | $545K | +4.8% |
| 4 Bedrooms | $607.5K | $612.5K | +0.8% |
| 5+ Bedrooms | $740K | $905.8K | +22.4% |
Summary: Lolo housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 22.4%.
Median Sold Price Compared To Nearby Cities
| Alberton | $449.7K | $528.5K | +17.5% |
| Lolo | $545K | $592.5K | +8.7% |
| Missoula | $530.1K | $547K | +3.2% |
| Florence | $649.5K | $659.5K | +1.5% |
| Frenchtown-Wye | $630K | $610K | -3.2% |
Housing Supply in Lolo, MT
How many homes are available in Lolo, MT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 65 | +20.4% |
Summary: The Lolo real estate market had 65 homes for sale in May 2024, a 20.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 18 | 21 | +16.7% |
| 5+ Bedrooms | 8 | 12 | +50.0% |
Summary: The Lolo housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 16 | +45.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lolo, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Lolo in May 2024, up by 45.5% month-over-month. Of the 16 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Lolo, MT
How long does it take to sell a home in Lolo, MT?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 84 Days | 100 Days | +18.6% |
Summary: Homes in Lolo had an average of 100 days on market in May 2024, up by 18.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Lolo are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 16 homes were sold in Lolo; 31% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 38% 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.