Is Missoula, 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, 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
$547,033
$301/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Missoula have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Missoula was $547,033 in May 2024, up 3.2% from last year, and the median price per square foot was $301.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $333K | $279K | -16.2% |
| 2 Bedrooms | $375K | $390.5K | +4.1% |
| 3 Bedrooms | $520K | $535.6K | +3.0% |
| 4 Bedrooms | $622K | $680K | +9.3% |
| 5+ Bedrooms | $731.8K | $780.5K | +6.6% |
Summary: Missoula housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.2%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 6.6%.
Median Sold Price Compared To Nearby Cities
| Lolo | $545K | $592.5K | +8.7% |
| Missoula | $530.1K | $547K | +3.2% |
| Frenchtown-Wye | $630K | $610K | -3.2% |
Housing Supply in Missoula, MT
How many homes are available in Missoula, MT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 348 | 437 | +25.6% |
Summary: The Missoula real estate market had 437 homes for sale in May 2024, a 25.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 12 | +50.0% |
| 2 Bedrooms | 74 | 93 | +25.7% |
| 3 Bedrooms | 144 | 173 | +20.1% |
| 4 Bedrooms | 80 | 104 | +30.0% |
| 5+ Bedrooms | 42 | 55 | +31.0% |
Summary: The Missoula housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 25.7%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 31%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 66 | 88 | +33.3% |
Asking Price vs. Sold Price
43 Homes Were Sold
Under Asking
26 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Missoula, you may be able to get a good deal. 48.9% of homes here sold below asking price last month.
Summary: A total of 88 homes were sold or pending in Missoula in May 2024, up by 33.3% month-over-month. Of the 88 sold homes, 49% were sold under asking, 30% were sold at asking, and 22% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 78 Days | 52 Days | -32.4% |
Summary: Homes in Missoula had an average of 52 days on market in May 2024, down by 32.4% compared to last year.
Breakdown of Home Sale Times
37 Homes Were Sold
Under 30 Days
37 Homes Were Sold
In 30 - 90 Days
14 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Missoula are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 88 homes were sold in Missoula; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 16% 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.