A Decade of Prices in Missoula’s Real Estate Market

As we begin 2020, we notice that we don’t have flying cars, but we continue to have soaring prices for the real estate market. The median home price for Missoula in 2019 was $315,000, up 8.62% from the previous year. In the last decade, the median home price has continued to increase. Many factors contribute to the increasing prices, the main factor being a low inventory of homes for sale. Here’s a look at the median home price in the last 10 years:

  • 2010 – $200,500
  • 2011 – $206,641
  • 2012 – $209,500
  • 2013 – $215,125
  • 2014 – $228,486
  • 2015 – $239,900
  • 2016 – $256,100
  • 2017 – $268,125
  • 2018 – $297,224
  • 2019 – $315,000

The real estate market is cyclical. It goes up, it goes down, and sometimes, stays level. In the last decade, we have been on an uphill swing, so it is only a matter of time until the direction changes.

*All information from the Montana Regional MLS

https://mrmls.stats.showingtime.com/infoserv/s-v1/wQn6-8eq

Provided By: Kris Hawkins, Realtor with The Partner Group