Missoula Real Estate, What Will $1.3 Million Get You?

The prices here in Montana seem astronomical to those of us who live here in Montana, but to others elsewhere across the country, apparently they still seem like a bargain.

I've talked with Missoula realtors who told me as early as last summer how they would get multiple bids, sight unseen, from out-of-state buyers with above the asking price offers. But apparently, these are still considered bargain prices.

Fox Business featured a report over the weekend with this headline: "Here's what you can get for $1.3 million in Missoula, Montana"

Here's an excerpt from the piece:

A recent report from Bankrate.com ranked Montana as having the second-hottest housing market in the U.S. The state benefits from a low tax burden, high home price appreciation and a low ranking of past-due mortgages.

The median sale price in the Missoula urban area climbed to $414,000 last month, compared to $318,000 a year earlier and $282,000 in February of 2019, according to the Missoula Organization of Realtors.

Last summer in Gallatin County we also saw the median home price jump six figures in one month alone. I spoke with the Gallatin Association of Realtors about the housing market in Bozeman and Gallatin County recently. Here's the full audio from our podcast:

You might also recall this home on the market in Bozeman that we shared with you back on March 4th of this year. It's a 552 square foot, one-bedroom, one-bath home on the market for $500,000.