Missoula, MT housing market

Missoula's housing market has hit the pause button, and the gap between what sellers want and what homes are worth tells the whole story this month. The typical home value sits at about five hundred seventy-eight thousand dollars, up just 0.2 percent over the past year, which is as close to flat as a market gets. Meanwhile, sellers are still aiming high. The median list price is around seven hundred forty-four thousand dollars, well above that typical value, and only about 12 percent of listings have cut their price. That patience has a cost. Homes are taking roughly 53 days to sell, and with only about 328 homes for sale and 142 new listings coming on, inventory stays thin but nothing is moving fast. For a homeowner thinking of selling, the message is clear. Values are not falling, so there is no need to rush. But buyers at these prices are picky. Price near the market, not above it, and expect the sale to take a couple of months.