Real estate watchers say condominium projects are the next big thing in Missoula's housing market

Twenty years ago, it was a rare Montanan who thought of a condominium as something other than a vacation time share or a dwelling for Californians.

Today in urban Missoula, things have changed. Residential condominium projects are going up around the city, from a 57-unit project near Southgate Mall to 32 condos in a three-story building at California and Dakota streets to three condos above commercial space in a modern building that took the place of the old gas station at the corner of Broadway and Orange Street.

“I think condos and low-maintenance housing are the next boom in Missoula,” said Judy Wahlberg, president of the Missoula Organization of Realtors.

The number of condos sold in the Missoula area is still small compared to the number of single-family houses. But it's nearly doubled in four years. In 2002, 74 residential condominiums changed hands at a median price of $111,250, according to MOR statistics. In 2005, 138 condos were bought and sold, at a median price of $124,000.

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