We have all heard the national news coverage of foreclosures, short sales, huge price reductions and unbelievable investment opportunities. So, how has the Missoula real estate market compared? Here are the percentages of sales price to original price, pertaining to different areas of Missoula, based on local MLS input over the past year. Please keep in mind that this data is for single family residential and does not include real estate with acreages:
Generally – North of the Clark Fork River, East of Reserve, West of East Missoula
High: 101%
Low: 77%
Average: 92%
Number of Properties Included: 16
North Missoula:
Generally – North of Downtown, South of the Freeway
High: 100%
Low: 87%
Average: 94%
Number of Properties Included: 15
Central Missoula:
Generally – North of Brooks, East of Reserve, West of Russell, South of the Clark Fork River
High: 128%
Low: 70%
Average: 94%
Number of Properties Included: 77
University Area:
Generally – North of South Avenue, East of Higgins, South of the Clark Fork River
High: 100%
Low: 73%
Average: 90%
Number of Properties Included: 23
Lewis & Clark / Russell:
Generally – North of 39th Street/S.W. Higgins, East & South of Brooks, West of Higgins
High: 100%
Low: 82%
Average: 94%
Number of Properties Included: 37
Pattee Canyon / Farviews:
Generally – East of Hilview, Southeast of S.W. Higgins
High: 101%
Low: 77%
Average: 91%
Number of Properties Included: 34
Rose Park / Slant Street:
Generally – North of South Avenue, Southeast of Stephens Avenue, West of Higgins
High: 100%
Low: 81%
Average: 93%
Number of Properties Included: 24
McCormick Park Area:
Generally – Northwest of Stephens Avenue, South of the Clark Fork River and East of Russell
High: 100%
Low: 72%
Average: 90%
Number of Properties Included: 22
Lower Rattlesnake:
Generally – Rattlesnake Valley, South of Lolo Road
High: 102%
Low: 68%
Average: 88%
Number of Properties Included: 15
Upper Rattlesnake:
Generally – Rattlesnake Valley, North of Lolo Road
High: 114%
Low: 72%
Average: 89%
Number of Properties Included: 33
East Missoula / Riverside:
Generally – North of the Clark Fork River, East of Rattlesnake Valley, West of Bonner
High: 100%
Low: 77%
Average: 94%
Number of Properties Included: 23
Bonner / Turah / Clinton:
Generally – East of East Missoula / Riverside, West of Rock Creek
High: 98%
Low: 87%
Average: 92%
Number of Properties Included: 1
South Hills:
Generally – East of S. Reserve Street, South of 39th Street, West of Hillview
High: 111%
Low: 72%
Average: 93%
Number of Properties Included: 84
Linda Vista:
Generally – North of Linda Vista Blvd. West of S. Reserve Street, East of Bitterroot River, South of 39th St.
High: 114%
Low: 76%
Average: 93%
Number of Properties Included: 57
Upper Miller Creek:
Generally – South of Linda Vista Blvd.
High: 110%
Low: 84%
Average: 95%
Number of Properties Included: 6
Target Range / Orchard Homes:
Generally – North of the Bitterroot River & Brooks, East of O’Brien Creek, South of Clark Fork River, West of Reserve St.
High: 103%
Low: 79%
Average: 92%
Number of Properties Included: 25
Big Flat:
Generally – West of O’Brien Creek & Kona Ranch Road, South of Clark Fork River
High: 100%
Low: 78%
Average: 90%
Number of Properties Included: 4
Blue Mountain:
Generally – South of Bitterroot River, W of Highway 93 S., North of Lolo
High, Low & Average: 84%
Number of Properties Included: 1
Mullan Road West:
Generally – North of Clark Fork River, East of Kona Ranch Road & Deschamps Lane, South of Broadway, West of Reserve
High: 100%
Low: 68%
Average: 93%
Number of Properties Included: 80
Expressway:
Generally – North of Broadway, East of Kona Ranch Road & Deschamps Lane, South of Interstate, West of Reserve
High: 153%
Low: 91%
Average: 101%
Number of Properties Included: 31
Grant Creek:
Generally – North of Interstate, East of the Wye Area, West of Rattlesnake Area
High: 100%
Low: 85%
Average: 92%
Number of Properties Included: 9
Please take the above with a grain of salt, as this data is all based on the legitimacy of the original listed price. Also, some of the areas that show high numbers of percentages over 100 could be the result of “build-to-suit” properties where the Buyers have added upgrades, finished basements, etc. The other aspect of this data to remember is that many listed prices may include some “negotiating room.”