I want to go over what it is going on this spring. People are fighting for homes and paying way more than asking price in some cases.
Right now, there are just over 300 homes for sale in Missoula.
We are seeing the average days on market settle right around 100 days. If you are a seller and your house is on the market for longer than 90 days, the price may be too high. Buyers, if you see a house on the market for more than 90 days, have your Realtor pull comps to make sure that you are getting a good deal.
In Lolo, there are only 14 homes on the market. If you are interested in selling in Lolo and you don’t put your home on the market, take your temperature because this is the time to sell. We will get multiple offers and you will make more money.
"Sellers, if your home is on the market for over 90 days, you should consider a price reduction."
The average days on the market in Lolo has increased from its February low of 65 days because of the increased inventory. The homes that we do see on the market in Lolo are priced much higher, although not overpriced, which will increase the average days on market.
In Florence, there are 43 current listings. We will see more homes listed in June, which means that buyers will have more options and could potentially get a better deal. If you're a buyer, you'll still have to probably settle for a little less than what you want because inventory is overall lower than it's been in previous years, but you can still take advantage of some of that appreciation.
Right now, Florence is sitting at 140 days on the market because there are a lot of higher price range listings keeping that number up. Homes that are $350,000 or less are selling quickly.
Frenchtown has only 11 homes listed, with the days on market sitting at 90. In January that number was nearly 220. If you are in Frenchtown and want to sell, do not wait until June when there will be more competition.
There are 71 listings in Stevensville. The days on the market for them is all the way up to nearly 240.
We have very limited inventory and still have 90 or more days on the market. Sellers, unless your home is on the market for 90 to 120 days, there is no need to worry. After that time, you should consider a price reduction.
If you have any additional questions about the current market or are interested in listing or buying a home, please contact me by phone or email. I look forward to speaking with you soon.