The Missoula residential real estate sales were robust over the summer months; approximately 368 homes were sold over the period of June, July and August. The number of homes on the market throughout 2015 has been running nearly identical to last year but year-to-date sales are up by nearly 14 per cent; absorption rate has been running faster than normal market nearly every month since summer of last year.
Missoula Residential Real Estate by the numbers – August 2015:
Homes Sold in August: 101
Average Sold Price: $292,623
Median Sold Price: $262,700
Homes Under Contract at end of month: 169
Homes Listed for Sale at end of month: 419
- August 2015 residential sales were down about 21% from July and flat to same month last year
- Approximately 75% of homes sold in August were under $350,000
- Absorption rates are very favorable for sellers and running much faster than a normal market; in August the absorption rate was approximately 3.7 months
- Homes that closed in August were on the market for an average of 87 days before the sale was finalized
- Average sold price was 1.8% higher than last month and about 3.2% higher than in the same month last year
- Average list-to-sale price in August was 98%
