Top Large Teams in Montana – Ranked by Volume

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2023 Montana Housing Market Summary

Montana started 2023 with a total of 2,124 single-family homes on the market, with a median home price of $670,000 and an average price per square foot of $429. By the end of the year, inventory had increased to 2,428 homes on the market (+14%), with a median home price of $685,000 (+2%) and an average price per square foot of $443 (+3%).

At the start of 2023, the median days on market (DOM) was 98 days – by the end of the year, median DOM had increased to 105 days.

Montana started the year with 28% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 29% of Montana homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Montana started 2023 as a seller’s market, with an MAI score of 40; by the end of the year, the MAI had dropped to 30 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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