MISSOULA – While anyone shopping for a house in Missoula this past year can attest to the continued climb in house prices, this is the week when we find out for certain how much more you’re having to pay to put a roof over your head.
The Missoula Organization of Realtors has released its Missoula Housing Report which for the past 13 years has become the benchmark for gauging the state of Missoula’s housing market.
And that’s been a volatile market during those 13-years. While the mid-2000s saw Missoula enjoying the nationwide boom in home ownership, the reports have also reflected how Missoula’s real estate picture changed following the 2008-2009 recession.
However, the more recent reports have shown the sharp turnaround in the past 3 or 4-years, and the almost insatiable demand for "affordable" homes in the sub $300,000 range. Yet, at the same time, Missoula has also seen prices climbing in the middle of the market, between $325,000 and $450,000.
The report — which shows the median price for a house in Missoula now sits at $289,000 — is also a good snapshot on the state of the Missoula rental market, which is expected to show a continued climb in rental unit prices over the past year.
The Missoula Organization of Realtors will release the 2018 Missoula Housing Report at 10 a.m. on Tuesday morning in a public presentation at the DoubleTree Hotel.