Missoula, MT housing market

In Missoula, one in five homes for sale has already cut its price. If you are thinking about selling this year, that number is your warning, and here is what it means. The typical Missoula home is worth about five hundred seventy-two thousand dollars, up just a tenth of a percent over the past year, so values are flat, not falling. But the median list price is around seven hundred seventy-five thousand dollars, more than two hundred thousand dollars above what a typical home is actually worth. Sellers are aiming high, and the market is pushing back. Homes are taking about sixty-three days to sell, and a little over 21 percent of active listings have taken a price cut. Here is the turn. Inventory is tight. Only about 350 homes are for sale, and just 88 new listings came on last month. The problem is not supply. The problem is pricing. Sellers are overshooting, sitting for two months, and then cutting. So price your home at what it is worth, not at nearby asking prices, and you can still sell well here. Overprice, and you will likely join the one in five. Find out what your home is really worth with a free estimate at Home Value Pros dot com.