The Missoula Real Estate Guide features 7,035 of the very latest real estate listings and homes for sale in Missoula and Western Montana
The Missoula Real Estate Guideby Mindy & Steve Palmer. Not your ordinary Missoula real estate agents.

The Missoula Real Estate Market – December, 2013

At the end of November, 12 month median home prices were up 2.6%, 12 month total home sales were up 24.8%, the 12 month average listing inventory was down 13%, and the 12 month average absorption rate was down 28.6%.

Market Statistics

Median Home Price20122013+/-
November$209,700$205,750– 1.9%
3 Month Average$209,567$210,950+ 0.7%
12 Month Average$206,720$212,054+ 2.6%
Home Sales20122013+/-
November7696+ 26.3%
3 Month Total279308+ 10.4%
12 Month Total10671332+ 24.8%
Listing Inventory20122013+/-
November700622– 11.1%
3 Month Average769663– 13.8%
12 Month Average822715– 13.0%
Absorption Rate20122013+/-
November9.2 Months6.5 Months– 29.4%
3 Month Average8.4 Months6.5 Months– 22.6%
12 Month Average9.8 Months7.0 Months– 28.6%

Median Home Price

Graph of Missoula Home Price Trends
The median home price is the price for a given period of time where half the homes sold for higher and half sold for less.
 


Home Sales

Graph of Missoula Home Sales Volume
Home sales represents the number of closed residential sale transactions during the indicated time period.
 


Listing Inventory

Graph of Missoula Listing Inventory Trends
Listing inventory represents the number of unsold residential listings at the end of the indicated time period.
 


Absorption Rate

Graph of Missoula area absorption rates
The absorption rate is a theoretical measure of how many months it would take to deplete a given level of inventory based on a given monthly rate of sales.

For example, if there are 100 homes on the market, and 100 homes sold during the previous 6 months , then the absorption rate would be 6 months.

(100 homes on the market) ÷ (100 homes sold ÷ 6 months) = 6 months

In general, absorption rates below 6 months indicate a sellers market. Rates above 6 months indicate a buyers market.


The statistics and graphs presented above are updated every month and represent residential sales and inventory data for the greater Missoula area real estate market. The data is taken directly from the Missoula Organization of Realtors multiple listing service (MLS) database.