Missoula Investment Properties | For Sale

We have put together an updated list of all multi-family properties listed on our local MLS in the Missoula area.  These investment properties are currently for sale and will update regularly.  If you would like a list sent to you daily, please call or email Jeremy Williams & Associates at jeremywilliams@kw.com. When you consider working with us, we offer our clients a commercial investment property anaylist that can help properly evaluate your potential investment opportunity.  Research includes APOD’s, Cap Rates, IRR and Cash on Cash returns.

We cover Western Montana so if you are looking of a property in an area other than Missoula,

call us at 406-926-6767

 


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

kwCommercial-Stacked-Web_v2

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,

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Jeremy Williams

Keller Williams Realty

406-926-6767 (Direct)

jeremywilliams@kw.com


Missoula Residential Real Estate – December 2015


BY THE NUMBERS

  • Homes sold December 2015: 56
  • Average days on market: 119
  • List-to-sale price: 98%
  • Median sold price: $224,750
  • Homes sold YTD December 2015: 1,034
  • Median sold price YTD December 2015: $253,529
  • Homes actively listed for sale at the end of December 2015: 262

DESPITE LOW INVENTORY, HOME SALES GREW 14% in 2015

Despite a dip in December, home sales in 2015 outpaced 2014 sales nearly each month of the year; the year ended with a total of 127 more sales than in 2014, a 14 percent increase. Homes continued to sell between 97 and 98 percent of asking price with homes selling, on average, in about three and a half months. There were 262 homes on the market at the end of the year.

missoula residential real estate by the numbers December 2015

OVERALL SHORT-TERM MARKET OUTLOOK

Missoula residential real estate market performance throughout 2015 demonstrated that it is still a seller’s market and unless something drastic happens with inventory or interest rates over the next couple of months, it appears it will continue to be a seller’s market into the first part of 2016.

2015 inventory levels were lower than 2014 levels and year-to-date sales outpaced 2014 by about 14 percent. Both inventory and sales typically decrease during the winter months but based on the sales data we have seen over the last several months, we believe homeowners who list their homes while there is still snow on the ground will see that there are plenty of qualified buyers out there looking to purchase, especially in the under $350,000 price range.

Seller Recommendation: As is typical for the winter months, many homeowners have taken their homes off the market. With inventory at the lowest levels we’ve experienced in years (262 active listings at the end of December) there are many buyers out in the market who are unable to find a home that suits their needs and wants. We strongly recommend to sellers that they either keep their home listed or put it on the market now while there is minimal competition. Homeowners who are competitively priced may entertain multiple offers; sellers are currently getting between 97 and 98 percent of asking price.

Buyer Recommendation: With the lowest inventory levels we’ve seen in years buyers are having a difficult time finding homes to purchase – so be prepared to pay between 97 and 98 percent of asking price, on average, for a reasonably priced home. Prior to beginning your search we recommend that you be prepared with a loan pre-approval letter and ready to make an offer immediately to avoid a possible multiple offer scenario. Your choice of Realtor will also be extremely important, as a proactive agent will not limit their search to the active listings on the MLS and will likely be more creative in finding homes for their buyers.

Download a copy of the full Missoula Residential Real Estate market report here:  Market Report_December 2015

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Keller Williams Real Estate – Missoula,MT


Former Marshall Mountain ski area for sale for nearly $3M

JUNE 23, 2015 5:00 AM  • 

If you’ve got about $3 million on hand, a treasured piece of Missoula history is for sale: the former Marshall Mountain ski area.

Situated just seven miles northeast of Missoula in Marshall Canyon, the ski area began operation in the winter of 1941. Night skiing by kerosene flames began in 1958, and more runs were cut over the decades as snow-making capabilities extended the season.

The little hill operated continuously until 2003, when financial complications – including a property seizure by the IRS – forced owners Bruce and Kim Doering to cease ski operations.

Since then, the area has hosted weddings and mountain bike races, but the iconic pink chairlifts have been idle for more than a decade.

The lower 156 acres of the area, including the old ski school/rental building and the main lodge, are listed by Jeremy Williams of Windermere Real Estate for $2.95 million. It has been listed for about 30 days.

The property is a popular access site for hunters, horseback riders, hikers, backcountry skiers and snowboarders. It’s zoned C-A1 Open and Resource Lands, and permitted uses include commercial recreation like country clubs, campgrounds, riding stables and, of course, ski areas.

The long list of potential uses are what Williams hopes will capture the imagination of some plucky entrepreneur.

“It’s a great property,” he said. “The reality is that this mountain has been such a focal point and such a part of the community for so long. A lot of people learned to ski at Marshall Mountain, and there’s a large mountain biking community there.

“In an ideal world, if we had something similar there moving forward, it would be ideal. Who knows what’s going to happen next, but we would love to see it stay in the community’s hands. That’s going to be the continual focus. That would be important.”

Bruce Doering has said in the past he would rather see the site used for recreational purposes rather than “just a rich person building a house.”

The road up to the site is nearly all paved.

“It’s not too far away, and it’s just beautiful land,” Williams said. “So many people are familiar with it and it’s an iconic piece of Missoula. It’s really been encouraging the amount of interest we’ve had in a short amount of time and the potential ideas for uses.”

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The top 480 acres of runs and ski lifts are owned by Five Valleys Land Trust and the Lolo National Forest.

Because Marshall Mountain historically leased the top section from Plum Creek Timber Co., that portion of the mountain was divested and acquired by Five Valleys Land Trust last year.

That organization has said it is committed to working with a new buyer and is open to discussing possible lease options to facilitate similar, non-motorized use of the land, including a ski area.

According to county information, the two buildings on the site were constructed in 1958 and 1975, but both have undergone extensive renovations over time, including construction of metal roofs to mitigate wildfire threats.

The property comes with water rights and piping for snow making.

Williams said Marshall Mountain is suitable for athletic events, corporate outings, family gatherings, holiday parties, company picnics, community and charity events, and weddings.

The area has a varied topography, including flat and gently sloped areas near the base of the hill and mountainous terrain farther up.

With a down payment of $590,000, a credit score of more than 740 and a 30-year fixed mortgage, a buyer could own the property for a monthly payment of $12,668.99, according to Windermere Real Estate’s online listing for the property.

http://missoulian.com/news/local/former-marshall-mountain-ski-area-for-sale-for-nearly-m/article_44f8d154-0002-5665-a9da-33db15b64261.html

 


Missoula Residential Real Estate Overview

December 2014

While there has been the normal seasonal decline the number of homes actively listed and homes sold over the last few months, the market is performing better than it did during the same months of the last couple of years. Though sales will continue the seasonal decline we believe there are still plenty of active buyers in the market to absorb any additional homes that may come on the market in the coming months.

By the numbers:

  • December 2014 sales were up 5.6% from November, up 45.5% from December 2013
  • Approximately 79% of homes sold in December were under $350,000
  • Average home prices were 2.7% higher than last month and 15.2% higher than in the same month last year
  • Average list-to-sale price has been at 97-98% for well over a year, December list-to-sale price was 96%
  • Absorption rates are still favorable for sellers and are running slightly faster than a normal market
  • Total number of homes on the market at the end of December was 312 with an additional 101 homes under contract

Selected Highlights

There were 76 homes sold throughout the month; at the end of December there were approximately 101 homes under contract. Despite the fact that active listings at the end of December were lower than in November, sales figures remained relatively consistent between November and December. This indicates to us that there are still plenty of buyers in the market despite the usual seasonal decrease in activity.

Overall, the year ended with 927 sales, 44 fewer sales than in 2013 – however, this was about 91 more sales (10.9%) than were realized in 2012.

Absorption Rate

The health of any real estate market can be recorded by absorption rates, which is the correlation between the number of active homes on the market and the number that sell per month, on average.  According to the National Association of Realtors, a normal market is six months of inventory – whereas anything over 6 months indicates a buyer’s market and anything under 6 months indicates a seller’s market. For the purposes of this discussion we are utilizing a 3-month average for sales. Inventory and absorption rates are an indicator for how fast our market is recovering.  If the number of homes coming on the market is proportional to the number sold, our market will continue to strengthen.  If there is a substantial increase in homes that are not absorbed by the number of buyers in the market, expect our market to soften until they are absorbed by the buyers.

The Missoula market continued to perform at a slightly faster pace than a normal market, producing an overall absorption rate of 4.2 months in December, compared to 4.5 months in November. While sales have slowed over the last couple of months, homes are still selling faster than in a normal market where it takes approximately 6 months to sell a home.

Missoula’s overall absorption rate history for the last four years is presented in the following graph.

December 2014 Absorption Rate History Missoula




 

 

 

 

 

 

A low absorption rate in your price range may indicate an opportunity to list your home at a higher price and, conversely, a higher absorption rate in your price range may put downward pressure on your market value. The following graph demonstrates absorption rate by price range. Absorption rates below the 6-month line show which homes are selling faster than a normal 6-month market and rates above the 6-month line are selling slower.

With absorption rates ranging between 1.7 and 4.7 months, on average, homes in Missoula priced at or below $350,000 are being absorbed at a much faster rate than 6 months.

December 2014_Absorption Rate by Price Range_Missoula

 

 

 

 

 

 

 

 

5-Year Home Sales by Month

The number of home sales in Missoula increased slightly this month to a total of 76 and under contract volume decreased from 120 properties at the end of November to 101 properties under contract at the end of December. The following chart provides a monthly snapshot of total homes sold since January 2010. (Green columns represent Under Contract properties for the current year.)

December 2014_5-Year Home Sales Trend_Missoula

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2015 Residential Real Estate Sales by Neighborhood

Missoula Residential Market Analysis_Year End December 2014

Overall Short-Term Market Outlook

With low inventory in the beginning of the year buyers had little to choose from, so when a good home that was priced well was listed, sellers were entertaining multiple offers and signing contracts with buyers at near asking price. Over the summer inventory increased and, despite the typical seasonal decrease in homes for sale, remained healthy as fall settled in. Inventory has decreased a bit further since fall, however, based on the absorption rates it is clear there are plenty of buyers in the market and homes are selling quickly and this winter, sellers are still getting very close to asking price.

Qualified buyers that are prepared to buy are looking to purchase a reasonably priced home. Sellers whose homes are competitively priced continue to entertain multiple offers and are getting very close to asking price or more than asking price. Sellers are currently closing the sale at an average of 96/97 per cent of asking price.

Full PDF Copy:  Dec 2014 Market Report

Year End Summary by Neighborhood: 2014 Year-End Summary – by neighborhood

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