Missoula’s new Dearborn Avenue condominiums won’t be complete until February, though the first model will be available to tour in about two weeks. That’s when the building’s developers will start selling the units, with the lowest-priced going for $132,900 and the highest for $295,500.

The rapid rise in condo prices is in line with the rest of the region’s real estate scene, which has continued to see strong demand from buyers despite a downturn in the rest of the nation’s housing market. Still, sales have slowed a bit this summer, and prices are no longer accelerating like they were. So far, that fact isn’t keeping developers from pushing more condos onto the scene, both in the form of new construction and with apartment or hotel “conversions.” In fact, with the year not yet over, Missoula appears poised to set a record for new condo projects.

Missoula is filling in as its population continues to grow. It is becoming increasingly urban, and many new residents are comfortable with living an urban lifestyle. Meanwhile, the entire state is seeing an increase in the number of residents age 65 and older. With its two hospitals, Missoula in particular is attracting a lot of retirees. Many of these folks could afford a stand-alone home at the end of some quiet cul-de-sac. Instead, they are looking for something close to the
action.

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