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Bitterroot Valley home sales up, prices decrease

An article in today’s Ravalli Republic reports that sales of homes on less than 20 acres in the Bitterroot Valley were up in 2011 s compared to 2010. 347 homes sold in 2011 as compared to 296 in 2010 – that’s a 17% increase over 2010.
29% of the homes sold in 2011 were government or bank-owned homes (i.e., foreclosures)
The median sale price for these homes in 2011 was $175,000, a 15% drop from the 2010 median sold price of $205,000.
Compare these numbers to the greater Missoula area
2011 Home Sales (under 20 acres): 796 sold, down 4.1% from 2010
2011 Foreclosure Sales: 101 sold, 13% of total
2011 Median Price: $210,000, up 0.5% from 2010
As usual, the Missoula real estate market is doing better than in outlying areas such as the Bitterroot Valley
Read the entire article here
Here’s the latest Missoula area foreclosure / short sale listings

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