Missoula Real Estate Market Report – April 2022

Missoula Real Estate Market Report – April 2022

Yes, that is right, we are already in May. Has the Missoula real estate market changed for the better or is it still lagging?

Missoula homes on the market…

Currently, Missoula has about 115 homes on the market which is about the same as this time last year. The good thing is that the houses are starting to turn over a little faster than last year. That means a few more homes are coming to market.

List to sales price…

The current list to sales price is sitting at 103%. That is better than this time last year when it was at 107%. What that means to buyers is that even though there are still some bidding wars going on, the offers are coming closer to the asking price.

Absorption Rate…

As we sit now, the absorption rate is about one month of real estate inventory. That is a touch better than where we were last month. It does look like it may be creeping back to the normal 6-month mark, but I believe it will be some time till we are there.

Final thoughts…

It looks like there might be some upside to the Missoula real estate numbers. The listing prices seem to be slowing down on new listings and that should help the average buyer get into a home. We are still in a low inventory seller’s market but the tide will change in time.

If you have any questions, please give me a call and we can discuss what is on your mind, (406)926-6767

Jeremy Williams