7th Floor Studio in Downtown Missoula Sells Very Quickly for $368,000

A well-appointed studio on the seventh floor of the Wilma in downtown Missoula went under contract three days after it was listed, never mind the asking price of $368,000.

The quick contract punctuates what the unit’s agent described as a hot downtown real estate market, one where the demand for residential units is high but the supply is limited.

Real estate agent Matt Mellott with Berkshire Hathaway believes downtown properties are a hot commodity and in short supply.

"The vacancy rate is very, very low for buildings downtown," said Matt Mellott, a commercial real estate agent for Berkshire Hathaway. "There’s certainly interest, it’s just a matter of affordability and parking, those sorts of things."

(Martin Kidston/Missoula Current)

Full Story: http://www.missoulacurrent.com/business/2016/11/wilma-real-estate-view/