Supply
Housing Market Data Dashboard

Below are visualizations representing data that reflect short- and long-term housing supply trends in Missoula County. For the Social, Sales, and Rental sections, click the boxes above.

These visualizations are updated regularly with the most recent data available. Depending on the sources, some data may be refreshed monthly or quarterly. Some may update annually, with a year or more of lag.

 

Under the visualizations, you can find explanatory text that adds context to the data presented here.

 

Click the double-arrow icon in the lower-right corner of the visualizations for a full-sized view.

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Please note that the color palette for these visualizations has been chosen for maximum accessibility for those with visual impairments. If you have trouble viewing the visualizations, please contact us for assistance.

Supply Data Context

What is "Absorption?"


Absorption is a method to calculate market supply by considering the pace of sales and the available homes. The absorption rate signifies how many months inventory is listed for sale to illustrate undersupply, normal market, and oversupply ranges.




Missoula Housing Market Absorption in 2020


2020 continued the trend of undersupply that started in the second quarter of 2019, finishing the year at 0.63-month supply, or roughly two weeks of inventory. All neighborhoods and all price points, except $750,000+, are in undersupply. Most neighborhoods are well below the threshold of a normal market supply of 3 months.


On slide three, in the table column labeled “Estimated Supply Gap,” we estimate the supply needed to achieve a midpoint in the market. These numbers are based on the pace of sales and current listings from the prior four months. The total estimated supply gap across all price points in 2020 was -464, meaning that the market needed 464 more units to meet demand.




New Plats Entering the Missoula Housing Market


In 2020, 119 lots received Final Plat approval making them available for sale: 50 in the City of Missoula and 69 in Missoula County.

After numerous years of limited preliminary lot approvals, recently approved subdivisions in the City of Missoula and Missoula County will allow approximately 550 much-needed lots to progress to the development stage. These preliminarily approved lots will enter Missoula’s housing stock over the next 2-15 years.

These 550 lots will be officially created and available for new home construction once their respective Final Plat approvals are granted. Final Plat approvals usually take several years to complete, meaning that 550 lots that were preliminarily approved in 2020 are not available for immediate development yet.




The State of Building Permits


In 2020, residential building permits increased by 20 percent in the City and 5.3 percent in the County:

  • Multi-family permits increased by 60.2 percent (combined City/County).
  • Single family permits increased by 9.6 percent in the County.
  • Single family permits declined by 18 percent in the City of Missoula.
  • Permits for all unit types was 2.6 percent below the 5-year average.