Today, I’d like to take a look back on how our market fared this November.
The market is definitely moving and shaking right now. Let me tell you, the seller who puts their home on the market now and gets it under contract before March is the seller who is going to make more money.
Getting back to our market overall, let’s start with some statistics from Missoula. Right now, there are 337 active homes for sale in Missoula. On top of our limited inventory, interest rates have risen to 4.25%. This has gotten people off the fence and out into the market.
There are currently 186 homes under contract in Missoula and if you are a buyer, you should absolutely make your move before interest rates rise again. Also in Missoula, we’re seeing homes spend an average of 70 days on the market with an average sales price of $270,000.
I’ve noticed there are many more townhomes and condos on the market. Sellers have realized that people are looking for less expensive property right now.
Let’s move on to Lolo. Right now in Lolo there are only 23 active homes on the market, meaning it’s a great time to list. There are currently 18 homes under contract and 107 have sold year-to-date.
"Don’t believe the myths, right now is a great time to sell."
The average sales price in Lolo have gone through the roof, sitting at $265,000 with homes sitting on the market for just 73 days on average.
In Florence, there are 38 active homes, 12 pending, and 81 homes have been sold year-to-date. Properties are spending an average of 93 days on market with an average sales price of $293,000. This price is way up from last year.
Stevensville has 98 active homes, 24 under contract, and 164 homes have sold year-to-date. Spending a fantastic average of 81 days on market, homes are selling at an average sales price of $267,000.
Currently, Corvallis has 39 active home listings, 15 pending, and 72 home closings year-to-date. Those listings are spending an average of 94 days on the market and are selling for an average sales price of $256,000.
Hamilton has 126 active home listings right now with 21 pending and 201 closed year-to-date. With an average list price of $248,000, these listings are spending an average of 102 days on the market.
As we can see from this data, average sales prices are rising across the board. So, once again, if you sell between now and March, you are set for success. You will make much more now when there are fewer homes competing on the market. Don’t believe the myths, right now is a great time to sell.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.