Welcome to spring! We’re a few months deep in 2017, and it finally feels normal to write that as the year! It’s an exciting time, and not least because the snow blanketing the Missoula area is giving way to fresh, green bloom. The first quarter market statistics are in. Comparing these sales to the first quarter of 2016 gives us a good benchmark to see how we’re doing. And we’re excited! The Missoula property market is in excellent shape.
In Western Montana, there were 823 residential sales in the 1st quarter of 2017 compared to 804 in 2016, and the total volume of sales increased by $44 million! The median price also increased to $250,000. And even though the amount of land sales decreased slightly, the total volume of those sales and the medium price increased.
It was an exciting quarter for the Missoula region. In the first quarter of 2017, Missoula’s PureWest real estate agents posted a 20 percent increase in residential sales over the same quarter in 2016! Agents sold 237 homes, compared to 197 in 2016. The median price also increased, and the total volume of those sales increased by $26 million.
In Hamilton, where land sold faster than anywhere else in the region, ranch and land sales totals are the newsmaker. In 2016, agents made three land sales in 2016; in the first quarter of 2017, they sold 10. They more than doubled the total volume of land sales.
And here’s the full data on residential and land sales for other nearby towns:
These market statistics show that we’ve kicked off 2017 with a strong start in our new Missoula office. Our Hamilton office is beginning the spring season with a complete remodel, stay tuned for more on that. We can’t wait to keep growing by helping people make their Montana dreams come true with Bitterroot or Missoula property. If you have a Montana dream, give us a call today! Or, you can always browse online for Missoula real estate and Hamilton Montana real estate.
PHOTO: Missoula property, featuring the neighborhood near the University of Missoula.