The numbers are in! And it’s clear that the market’s overall upward trend is strong in the Bitterroot Valley and Missoula. The amount of residential sales in the first half of 2017 increased over 2016 in the Hamilton, Lolo, Corvallis, and the Missoula MT property markets. That means the market is expanding, and it’s doing so fairly evenly across the entire region. In Missoula, the area of greatest growth, number of sales is up by nine percent.
Agents saw the biggest jump in total volume of residential sales in Hamilton. The statistics show a 57 percent increase, from $19 million to $30 million! The amount of residences sold is trending up as well, but by 9 percent, meaning the value and quality of the homes sold is increasing more rapidly. Missoula also saw strong growth here, reporting a 25 percent jump in total volume. Those are both huge surges. Other cities, including Lolo and Corvallis, also reported an increase in the total volume of residential sales during this period.
Overall, in Western Montana, the total of residential sales reported in the first quarter of 2017 increased by nearly 10 percent over the same period in 2016. Agents across Western Montana reported 2,323 residential sales, representing a volume of $719,319,691 – an increase of roughly 21 percent. Land sales also soared, by nine percent.
What a strong place for the market to be in! We’re expecting it to continue growing in the second half of 2017. Whether you’re dreaming of the ranching life in the Bitterroot Valley or of living in an outdoors and culture-focused city with Missoula MT property, this is a great time for us to help you make your Montana dreams come true! Give us a call, or browse online: Missoula real estate, Hamilton real estate, residential real estate, and land for sale.
PHOTO: Missoula MT property, featuring Tr. 5 Red Quill Ranch. For more information, contact Katie Ward at (406) 596-4000.