MISSOULA — Local real estate and business professionals say Missoula's housing market is stabilizing while business activity remains steady overall.
"The market is stabilizing, and what is great is we continue to see an increase in closed sales. We're moving into our third consecutive year of increased closed sales," said Mandy Snook, chair of the data committee at the Missoula Organization of Realtors and a practicing realtor.
Snook said the housing market is seeing inventory move, though different price points are seeing different levels of activity.
"Right now, the median home price is sitting right around $550,000. If you are under that median price, the market feels a little tighter. There's inventory, it's moving very quickly. There's more competition for those prices. Although different property types below that median price, there are some opportunities," Snook said.
Snook also said opportunities below the median price are often found in condos and townhomes.
She added that inventory for homes above the median price is also higher.
Snook said sellers are negotiating more with buyers, which she said is a sign of a more stable market.
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Turning to the business climate, Chad Bauer, president and CEO of the Missoula Chamber of Commerce, said the landscape is mixed, with the service industry facing the most challenges.
"It really is kind of a mix. We've got some businesses that are doing very well. We've got some businesses that are kind of status quo for a better choice of words. And then we've got some businesses that are struggling," Bauer said.
Bauer also says there is one main issue businesses are looking at.
"Property taxes, obviously, are a huge issue that we're watching. And you're gonna see what's gonna happen with the lawsuit that's out there right now, what's going to happen with that. And then if it, you know, really, we're just awaiting you to see what happens with that," Bauer said.
The lawsuit involves three Republican legislators who are challenging Montana’s 2025 property tax reform, arguing that the law violates the Montana Constitution because it was heavily amended during the last legislative session.
The state Republican Party is now backing the challenge.
According to the Missoula Economic Partnership's August 2025 data, Missoula's unemployment rate was 2.66%, reflecting Bauer's comments about continued demand for workers.
Overall, Missoula's housing market appears stable, though with median prices near $550,000, some neighbors remain priced out of the market.
