2019 has gotten off to a beautiful start in the Missoula and Bitterroot Valley area. We’ve enjoyed some truly breathtaking crisp, clear blue days. Winter temperatures haven’t been too harsh, and now, in the heart of the season, we’re cross country skiing, snowshoeing, snowmobiling, and more. But we’re not here to talk about that! The data is in, comparing neighborhood statistics from 2017 vs. 2018! Our region had a strong year, with particularly solid growth in Stevensville and Hamilton Montana property.
In Hamilton, a beautiful town in the heart of the Bitterroot Valley, 2018 residential sales saw modest but robust growth, with residential sales up by 9.9 percent compared to 2017, and an increase in the total volume of sales by 21.3 percent. Land sales also performed well last year, with a 33.3 percent increase in the median price over 2017, and, accordingly, a 40.9 percent increase in total volume of land sales.
Twenty miles north, in Stevensville, on the banks of the Bitterroot River, both residential sales and land sales saw a bump, with 2018 reporting a 18.5 percent and 10.4 percent increase over 2017, respectively. The biggest gain was in total volume of land sales, which was $4.8 million in 2017 and $7.9 million in 2018, a 63.4 percent increase! Total volume in residential sales also posted a gain, of 34.4 percent.
And don’t forget about the picturesque town of Corvallis, which reported really strong numbers in 2018, compared to 2017. In the residential market, sales increased by 19.5 percent, with the total volume of those sales growing by 46.8 percent and the median price increasing by 20.1 percent. Land sales grew more modestly,with a 9.6 increase in total sales, a 21.9 percent increase in total volume, and a 10.5 increase in median price.
Last—but absolutely not least—the biggest city in Northwest Montana, Missoula saw its biggest gains in land sales, where the total volume of properties sold in 2018 outpaced 2017 by 24.5 percent. Other metrics reported more modest growth, with total volume of land sales increasing by 4.1 percent, for example.
If the growth in the Missoula area market has piqued your interest in local property, whether your dream is beautiful Hamilton Montana property or a downtown Missoula townhouse, contact our local agents! You can always browse online for Missoula real estate, Hamilton Montana real estate, and more.
PHOTO:Hamilton Montana Property, featuring 555 Skyfire Drive. For more information, contact Bobbi J. Lockhart at (406) 880-0117.