Missoula’s University area is HOT!

University Homes | Missoula, MT

The University District in Missoula, MT has always been regarded as one of Missoula’s most desirable neighborhoods.  Known for its century old tree lined streets, unique architecture, proximity to the University of Montana and Downtown, the University District is unlike any other neighborhood in Missoula.  As a result, the University area sets the standard for Missoula Real Estate.

Real Estate in the University Area was no exception in 2012.  For the year, 51 total homes sold for an average sold price of $ 338,880 and produced the only million dollar plus real estate sale in Missoula this year.  With an average of 4.25 homes selling a month, the absorption rate for the Missoula’s University District is 2.11 months and is well out pacing a normal market of 6 months.   This means that 47% of homes in the University district sell each month.

Recommendation:  Expect University Area Real Estate to continue to appreciate until the inventory levels are back to a normal level.  To maximize your buying ability, look to purchase in the first couple months of the New Year before an active spring market pushes prices higher.

For more information: Click here to search all of Missoula’s University of Montana Homes.
Jeremy Williams
Williams & Associates | Keller Williams Realty