Residential Real Estate Update – September 2016


Download full report: Missoula Residential Real Estate – September 2016

Missoula Residential Real Estate By The Numbers:

  • Homes sold September: 125; YTD 987
  • Average days on market September: 101; YTD 116
  • List-to-sale price September: 97%; YTD: 98%
  • Median sold price September: $270,000; YTD: $255,150
  • % homes sold under $350,000 September: 72%
  • Homes actively listed at end of September: 410
  • Months of inventory at end of September: 3

Supply & Demand for Residential Real Estate in Missoula

Sales of single-family homes in Missoula have been strong throughout the year. As of September 30, 2016 there were approximately 987 homes sold year-to-date, representing an increase of about 2.7 percent over the same period in 2015. For the last three years homes have been on the market for about four months prior to selling.

There has been a small uptick in inventory (homes actively listed for sale) in Missoula; low inventory of homes for sale over the last three years has factored into the gradual increase in median price. This year a slight increase in inventory occurred with average of 395 homes on the market per month during the first nine months of this year, compared to an average of 368 homes on the market during the same timeframe last year. However, the increase in inventory was not enough to stop the median price from rising.

Median home prices have increased steadily over the last three years. At the end of the month, the year-to-date median residential home sales price in Missoula was $255,150, which is about 6.1 percent higher than year-to-date median home prices at the end of September 2015.

 

New Construction

Throughout the first nine months of 2016 there have been 183 single-family, new construction permits issued in the city of Missoula, an increase of about 35.6 percent from the 135 permits issued in the first nine months of 2015. Building activity in Missoula tends to slow during the winter months. However, if the number of permits issued in the last quarter of 2016 are comparable to the number of permits in the fourth quarter of last year, 2016 could close out with more than 200 new construction permits issued throughout the year.

 

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Overall, it appears construction has picked up in terms of single- and multi-family housing. Throughout the first nine months of the year there have been 6 duplex construction permits issued compared to 3 issued over the same time period last year. There has also been 15 new construction permits issued for residential properties with three or more units. The increase in permits could be a good sign that we will see more new construction in the coming months, helping to increase residential inventory.

 

Overall Short Term Outlook

Seller Recommendation:  There is still a shortage of homes in certain price ranges and many buyers out in the market are unable to find a home that suits their needs and wants. We recommend to sellers that they either keep their home listed or put it on the market now. Homeowners who are competitively priced may entertain multiple offers; sellers are currently getting about 98 percent of asking price.

Buyer Recommendation:  Though inventory levels have been increasing, there is still a shortage of homes on the market; be prepared to pay about 98 percent of asking price for a reasonably priced home. Prior to beginning your search we recommend that you are prepared with a loan pre-approval letter and ready to make an offer immediately to avoid a possible multiple offer scenario.

 

Download full report HERE

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HomeNow – New Down Payment Gift Program!

New product for home buyers allow purchasers to buy homes in some cases no money down.  HomeNow program gives qualified borrowers 3.5 or 5% to use for a down payment or to cover closing cost.  This is not a loan, this is a gift.

Gift can be used towards the purchase of single family home, duplexes, town homes and condos.

To get more information on the program and to see how it may help you in your next home purchase please call.  What we found that most people are more qualified then they think and in many cased can buy a home for around the same or less as rent.  It is worth looking into if you have even pondered buying a home. Don’t miss out on your opportunity for home ownership.

We can be reached at 406-926-6767.

Jeremy Williams

Keller Williams – Western Montana Real Estate

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Picking the Right Listing Agent – Exposure

What to look for in a Real Estate Agent when Selling your home

Why choose Keller Williams and the Jeremy Williams Team to sell your next home? Because we don’t all do the same things to sell a home.  Internet exposure is just one of the many tools that sets us apart from the competition. Be an educated seller and ask questions.

Jeremy Williams
Keller Williams Western Montana
Direct | 406-926-6767
jeremywilliams@kw.com
Missoula,MT


Missoula Residential Real Estate Market Update – June 2016

Download full report: Missoula Market Report June 2016

By The Numbers:

  • Homes sold June: 149; YTD 577
  • Average days on market June: 108; YTD 114
  • List-to-sale price June: 98%; YTD: 98%
  • Median sold price: $257,000; YTD: $246,381
  • % homes sold under $350,000: 5%
  • Homes actively listed at end of June: 443
  • Months of inventory: 5

SUMMER HAS ARRIVED IN MISSOULA! Despite low inventory, Missoula residential real estate sales were strong over the last six months. Homes in Missoula priced below $350,000 are being absorbed at a much faster rate than higher priced homes, leaving less than six months of inventory and fewer options for buyers to choose from. Demand for the more affordable homes outpaces supply, creating a seller’s market for most price points under $450,000. Conversely, there is between 9 and 16 months of inventory of homes priced at $450,000 and higher.

Absorption by Price Range_Missoula

Summer months usually bring more buyers to the market and, unless more new listings priced below $300,000 come on the market in the next couple of months, we anticipate it will remain a seller’s market throughout the remainder of summer in Missoula. Buyers who are seriously looking should be prepared with a pre-approval letter from a lender and be ready to make an offer, especially if shopping for a home priced under $300,000. Sellers whose homes are competitively priced will likely see a lot of activity and could sell within 97-98 percent of asking price.

Download full report here: Missoula Market Report_June 2016

Jeremy Williams
Keller Williams


Commercial Division – Keller Williams Western Montana

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June 18, 2016

Dear Clients:

WE AT KELLER WILLIAMS REALTY WESTERN MONTANA ARE VERY PLEASED TO ANNOUNCE THAT KW COMMERCIAL HAS OPENED A DIVISION HERE IN MISSOULA.

KW Commercial is the commercial real estate arm of Keller Williams Realty, one of the largest real estate firms in the United States.

KW Commercial is a full service commercial real estate firm with services including landlord, tenant, buyer and seller representation on all types of commercial property.  All property types include but are not limited to office, retail, industrial, land, multi-family, investment grade property, NNN properties and special use requirements.  Typical commercial transactions include leasing, selling, sale-lease back, investment sales and purchases, 1031 Exchanges, not-for-profit requirements, executive suite consultations, special consulting services, broker opinion of value, and a myriad of other services to meet commercial objectives.

KELLER WILLIAMS REALTY WESTERN MONTANA strives to provide you with outstanding real estate services.  With our affiliation to KW Commercial we can say that we truly encompass a full real estate spectrum from residential to commercial requirements.

Internationally, KW Commercial’s collective experience and knowledge spans a few hundred years.  Here in Missoula our team brings years of commercial real estate experience and knowledge which is positioned to meet your commercial real estate goals and objectives.

Thank you and we look forward to meeting all of your real estate needs.

 

It truly is a Great Day at Keller Williams.

Regards,

Jeremy Williams    

jeremywilliams@kw.com

Cell 406-531-1519 | Direct 406-926-6767

Keller Williams Western Montana

1817 South Ave West | Missoula, MT 59801



Missoula Residential Real Estate – 1st Quarter 2016

Download full report: Missoula Residential Real Estate Market Update_1st Q 2016

Missoula Residential Real Estate – By The Numbers:

  • Homes sold this quarter: 194
  • Average days on market: 112
  • List-to-sale price: 98%
  • Median sold price: $232,117
  • % homes sold under $300,000: 76%
  • Homes actively listed at end of quarter: 398
  • Months of inventory: 6.2

SPRING HAS SPRUNG! Missoula residential real estate sales were strong over the last three months despite low inventory. Homes in Missoula priced below $300,000 are being absorbed at a much faster rate than higher priced homes, leaving less than six months of inventory and fewer options for buyers to choose from. Demand for the more affordable homes outpaces supply, creating a seller’s market for most price points under $300,000. Conversely, there is between 11 and 42 months of inventory of homes priced at $450,000 and higher.

missoula residential real estate
Absorption by price range

Summer months usually bring more buyers to the market and, unless more new listings priced below $300,000 come on the market in the next couple of months, we anticipate it will remain a seller’s market throughout the summer in Missoula. Buyers who are seriously looking should be prepared with a pre-approval letter from a lender and be ready to make an offer, especially if shopping for a home priced under $300,000. Sellers whose homes are competitively priced will likely see a lot of activity and could sell within 97-98 percent of asking price.

Download full report here: Missoula Residential Real Estate Market Update_1st Q 2016

PS – We’ve moved to Keller Williams! Same great team, same excellent service!

Jeremy Williams
Keller Williams


We made the move!

Keller Williams
Dear Friends,
This year is already off to a great start and we have some very exciting news to share.  During the week of March 21, 2016, we will be moving our real estate business to Keller Williams Realty.  KW is the largest real estate franchise in the world currently with 134,000 agents and rapidly growing.  My family has also been given the amazing opportunity to become personally involved in the new Keller Williams Missoula-based office.  Not only does this opportunity bring a large national and global audience to our client’s properties, Keller Williams also offers our clients a wide reach across the sate of Montana with market centers in Kalispell, Bozeman, Billings, Helena and a smaller business center in Great Falls.  While the Keller Williams brand is new to Missoula, the leadership team and owners are local families that have been in the Missoula and the Bitterroot Valley real estate business for 10-20 years respectively.

What does this mean for our clients?  Keller Williams offers excellent exposure on properties, more tools for our buyers and sellers, and top notch technology.  Over 87% of buyers are finding the home they purchase on the internet and then use an agent (a National Association of Realtors statistic).  With the technology and internet reach that Keller Williams offers, we will have added on-line exposure of our listings to capture those buyers.  Our clients will continue to have the same great service we have provided for the last 10 years with additional tools to better serve you.

We are extremely grateful to Windermere Real Estate, our broker John Brauer, and the Mytty family for our time shared together.  Our appreciation and respect for everyone at Windermere Real Estate remains steadfast. We didn’t leave because we were unhappy.

We are very excited for this next chapter in our real estate careers and to be part of Keller Williams.  We look forward to sharing the KW experience with our friends and clients.  So, if you, or anyone you know, is looking to buy or sell real estate, we would appreciate you sharing our new contact information with them.  Referrals are a very important part of our business, and we look forward to helping you, your friends and your family with all of your real estate needs.  Please notice that we do have new email addresses:  jeremywilliams@kw.com

 and kimw@kw.com.

 

With gratitude,

J signature

Jeremy Williams

Keller Williams Realty

406-926-6767 (Direct)

jeremywilliams@kw.com


Missoula’s Newest Townhomes

Aspens Missoula

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There are no refunds for time, so spend your time wisely.Missoulas Newest Townhomes
  • Maybe you are ready to downsize.
  • Maybe you are ready to own instead of rent.
  • Maybe you would rather enjoy a baseball game instead of cut the grass.
  • Maybe you would rather float the river instead of paint your house.
  • Maybe you would rather go to dinner with friends instead of shovel snow.
  • Whatever your reason, The Aspens is a great place to call home.

Ask about:

Down payment Assistance Programs and Possible 100% Financing options for qualified buyers

Compare payments to rent!

 

The beauty of a townhome is that you get to live in a home that is basically worry-free with less time spent on maintenance and more time spent doing the activities you enjoy in life.

The Aspens are conveniently located near Southgate Mall, easily accessed by Reserve Street and centrally located in the heart of Missoula. At The Aspens, you are ten minutes in any direction (sometimes less) from sporting events, great dining and as much culture as you have time in your schedule to enjoy.

Aspens Missoula Plat Map

Directions: From Reserve Street, East on Spurgin, Right on Eaton, Right onto Aspen Grove.

Current Offerings:

Lot Number                      Model                         Price                            Estimated Completion

16                                             Blackfoot                     $238,000                              End of January

17                                             Clark Fork                   $245,500                              End of February

53                                            Blackfoot                      $234,500                              End of November

55                                            Clark Fork                    $242,500                              January

Prices and home offerings as of 11/17

 

You have a list of things you want to accomplish in life. If owning a brand new home is on your list, let us help you fulfill that dream.

Home ownership has never been so affordable.

The Aspens Bldg1V1Main     The Aspens Bldg1V1Upper

To see the newest phase of townhomes available and for current pricing, call Jeremy 406.532.7919 today!

Williams & Associates | Keller Williams Realty

406.926.6767 | www.missoulacountyhomes.com

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Denny Martz Custom Homes

A Signature Denny Martz Home

Recognized as one of Missoula’s premier home builders, Denny Martz has 20 years of experience building homes in the Missoula Valley, and April Martz has over 10 years invested in working along side her husband as a designer. Clients of Denny Martz Homes will experience….

  • A committed builder and interior designer dedicated to transforming your vision into a home built with quality products and careful attention to detail.
  • A construction process that delivers on time and on budget.
  • A continuity between interior design and exterior finishes.
  • Design plans that enhance functionality and creative expression.
  • A local, family-owned business that understands the value of integrity and professionalism.


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For information about home building opportunities available with Denny Martz Homes, please contact us today.