Published February 6, 2018
Missoula Area Real Estate Update
Missoula Area Real Estate Update
We had a great year in 2017. If you’re a client who either worked with us or referred us last year, thank you so much for your support.
As we head into the new year, I wanted to reach out and give you a quick update on what’s going on in the real estate market in the Missoula area.
Low inventory is the name of the game. There are only 1,904 total homes for sale on our MLS right now. On the first of the year, 650 homes expired in the best market we’ve ever had. That really shows the dangers of overpricing. In the best market we’ve ever had, there were still over 600 homes that didn’t sell because their prices were just too high for buyers to be willing to pay.
"Buyers be ready to pay a fair price "
In Missoula, we’ve got 257 total properties for sale right now. We usually carry an inventory of anywhere from 400 to 800, so this is a huge opportunity for potential sellers. If you’re thinking about selling your home right now, you need to understand that you’re going to net more money now by listing than you will if you decide to wait until April or May to do so. By listing now, you can get ahead of the market and make sure that you’ll net a bit more money in your pocket when buyers come calling.
Not only is inventory low in Missoula, but it’s also extremely low in the following towns and communities in the area:
- Frenchtown and Huson: 22 homes for sale
- Lolo: 14 homes for sale
- Florence: 41 homes for sale
- Stevensville: 77 homes for sale
- Corvallis: 31 homes for sale
- Hamilton: 115 homes for sale
If you're a buyer in any one of these areas, be ready to pay a fair price. With low inventory like this, making a lowball offer to the seller won’t work. If you have a house to sell, get the ball rolling by getting your home listed so that you can increase your odds of selling before the big spring rush.
If you have any questions about your specific situation or you’d like a custom copy of our 26-point marketing plan, don’t hesitate to give us a call or send us an email. We would love to hear from you. Demand more from your agent in 2018. Demand more from me!
