Inbusiness 11/22/15

Missoulian, Sunday, November 22, 2015 — A1

WINTER 2015-16

PROGRESS EDITION: PROGRESS EDITION: Missoula is buzzing Missoula is buzzing with construction construction with Featuring new, recently recently Featuring new, expanded expanded businesses businesses

KURT WILSON, Missoulian

KURT WILSON, Missoulian

2 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

Construction industry thrives as development rebounds across Missoula 77,000 new homes.

It wasn’t just housing that is driving growth in the construction was a year industry in Missoula. All over the of bustling economic activ- city, new developments provided construction jobs and will continue ity in the Garden City, with huge development projects taking shape to boost economic development and sustain other jobs in the year ahead. in all parts of town.

The $24.5 million development of “There was pretty good growth in both manufacturing and construc- the South Crossing shopping center, tion,” said Patrick Barkey, an econ- which now houses Cabela’s, Kohl’s omist and director of the University department store, numerous new restaurants, Boot Barn and a Petco of Montana’s Bureau of Business store, has added a much-needed and Economic Research. “Construction measured by employment shot of vibrancy to an area that long is doing reasonably well. Everybody featured a decaying parking lot and an empty K-Mart building. sees the construction projects at Further northeast on Brooks the university and there has been a lot of multi-family housing, but not Street, the Holiday Village Shopping Center is undergoing a massive a ton of single-family homes.” overhaul, with a new CVS pharIn 2014, the most recent year for macy building and a $1.5 million, which data is available, growth in 30,000-square-foot Fuel Fitness Missoula’s construction industry gym expected to be completed early as measured by inflation-adjusted wages was 8.4 percent compared to next year.

At the site of the Old Sawmill an overall growth rate of the entire District between California Street economy of 3.1 percent. and the railroad bridge over the The housing industry has been Clark Fork River, developers are in doing well for the past decade, the initial stages of building what especially in western Montana. will eventually be $250 million in Missoula had 30,288 homes as new development to be completed of 2013, and 13.4 percent of those by 2020. were built since 2003, according So far, construction has begun to Headwaters Economics. Stateon two high-end condominiums. wide, more than 44,000 homes A new brewpub and restaurant, were built in that same time. That outpaces any 10-year period in the an affordable housing complex, a giant student housing project, retail state’s history.

The 18 western Montana counties space, offices and a gym are account for 75 percent of the homes built statewide since 1990, a total of See REBOUND, Page 4 DAVID ERICKSON david.erickson@missoulian.com‌

‌2015

Missoula’s construction industry is in the midst of several development projects, including the new Missoula College, with more scheduled to get underway in the coming months.

KURT WILSON, Missoulian‌

Winter 2015, Vol. 3, No. 4 Western Montana InBusiness is a publication of the Missoulian

Publisher Mark Heintzelman Editor Matthew Bunk

Reporters: David Erickson and Cory Walsh Photographers Tom Bauer, Mikensi Romersa and Kurt Wilson

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4 — Western Montana InBusiness, Winter 2015-16

FROM PAGE 2 Rebound Continued

also planned to start construction next year.

Then there’s the $29 million, six-story, 55,000-square-foot Stockman Bank building that is expected to be completed at the corner of Orange and Broadway in downtown Missoula by the summer of 2017. The bank plans on building other locations in town as well, including a site on Brooks Street.

A new $32 million, 100,000-square-foot, four-story Missoula College building on East Broadway is well underway, and that is expected to spur development in that area.

The University of Montana is in the process of construction for the

$9.3 million Gilkey Center for Executive Education, which will host guest lectures by corporate executives and small business owners. A $2.5 million student athletic academic center, paid for by private funding, was completed

by UM earlier this fall.

Consumer Direct, a home-health management company, held a groundbreaking in September for its new $23 million, four-story, 73,000-square-foot headquarters on North Reserve Street.

Bretz RV and Marine recently completed a massive new 40,000-square-foot addition nearby, and a long-awaited Chipotle restaurant opened its doors on North Reserve.

“Missoula is bustling,” said Jim Green, the president of Univision

There were also many new housing and hotel projects completed this Total homes Homes built from Percent of total homes year. For example, the new County (2013) 2003 to 2013 built from 2003 to 2013 60-unit Midtown ApartFlathead 33,084 6,898 20.8% ments on Third Street near Granite 1,949 347 17.8% the Good Food Store began Lake 11,013 1,445 13.1% leasing energy-efficient Lincoln 7,984 1,292 16.2% units this summer, and Mineral 1,497 292 19.5% construction of two Missoula 30,288 4,044 13.4% extended-stay hotels Powell 2,539 251 9.9% on North Reserve added Ravalli 15,025 2,126 14.2% a boost to the building Sanders 4,699 773 16.5% industry in town.

“Construction has picked up and retail has Southgate Mall has Computers, which strengthened,” Barkey said recently broke ground on plans for a $21.7 million movie theater and lifestyle of Missoula’s economy. a new 10,000-squareMissoula County’s retail center, and its ownfoot headquarters on ers have invested millions unemployment rate was Stockyard Road. in buying up surrounding 3 percent in September, Two huge Safeway which is .7 percentage properties in advance grocery stores in town points lower than a year of a redesign that will were taken over by local ago and is much lower than focus the mall outward owners and turned the statewide average of and make it feel more into Fresh Markets, 4.1 percent. neighborhood-friendly. and Missoula Brewing Barkey said this has wide A 22,000-square-foot Company opened a new implications for companies 17,000-square-foot pizza H&M clothing store that are trying to find kitchen and taphouse just opened in the mall this skilled workers. past summer. off North Reserve.

Home construction in western Montana counties, 2003-2013

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“A story I’ve heard for at least 10 years, for production-oriented occupations like wood products and construction—skilled trades—employers say the perception is that these jobs are going away,” he explained. “But employers are saying, ‘Hey, it’s not all STEM (science, technology, engineering and math) jobs. There are actually people retiring in welding, and employers need people that know how to work in sheet metal. These jobs pay well and we can’t find anybody to fill them.

“I can’t say I’m in contact with every manufacturer in Missoula.

But they fill my ear with that. High-tech firms are having trouble staffing.

They might not hire all from Missoula, but they certainly recruit here. The labor force is a big challenge.”

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Western Montana InBusiness, Winter 2015-16 — 5

Business: progress edition

PEAK Health and Wellness significantly expands Blue Mountain facility nutrition, exercise and movement, supplementation, and coaching and he 6,600-square-foot expansion of accountability,” Turner said. “As advancements are made in the health and PEAK Health and Wellness Center, at 5000 Blue Mountain Road, better fitness world, we wanted to remain the leader in western Montana, and that is serves the needs of members and the the reason for the expansion.” entire community, according to director The PEAK offers members three difSusie Turner.

The expansion, completed in October, ferent locations, including a downtown location on Spruce Street, the Blue added a change in landscape as well as windows to increase the facility’s natural Mountain facility and the Racquetball Club on Buckhouse Lane. light. It also offers members a signifiThe facilities offer a wide variety of cant increase in the free-weight area, group fitness classes, a mind and body a mini football field with turf on it for yoga studio for yoga and mat Pilates, spin functional training, all new equipment classes, personal training, a day spa and for free weights and hammer strength, new cycling bikes, an elevator making the salon, on-site physical therapy, pro shops and child care. facility’s second floor handicap accesDifferent membership options are sible, and expanded parking. available. For more information, visit “We are a results-oriented facility peakmissoula.com. focusing on four key pillars of health: Missoulian Staff

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6 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

Missoula Property Management tends 975 properties, including new Midtown Apartments of December.”

Featherly said there is a strong demand for reasonably priced housing in Missoula, as the population continues issoula Property Management is to increase. not a new company, having been “My feeling is there is a demand for around since 2003, but it has recently taken over management of some affordable housing – I’m not talking lowincome housing, but affordable types of fairly large additions to multi-family properties,” she said. “For multi-family apartment living options in Missoula. properties, we are pricing them correctly Sherrie Featherly, a licensed property so they are still affordable. I think there manager and the owner of Missoula Property Management, said her company is an affordability issue here in Missoula.”

The Midtown Apartments range from now manages 975 properties and has 10 $700 per month to $1,025 for a higherfull-time employees. end, two-bedroom, two-bath unit.

They manage the brand new, 60-unit “The affordability range is right Midtown Apartments on Third Street around the $850 mark for a two-bedroom across from the Good Food Store, which unit,” she explained. “And these units are feature energy efficient heating and cooling, innovative sound mitigation and brand new and in a great location.”

Her firm also manages the Tyson pet-friendly options – always something Vance Apartments behind Home Depot, important to Missoulians. which are in the $700-$850 range “We just started leasing those up the first week of November, and they are half as well. full at this point,” Featherly said. “They are projected to be fully leased by the end See PROPERTY, Page 11 DAVID ERICKSON david.erickson@missoulian.com‌

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KURT WILSON, Missoulian‌

Missoula Property Management has recently added the 60-unit Midtown Apartments on Third Street to their management portfolio.

Western Montana InBusiness, Winter 2015-16 — 7

BUSINESS: PROGRESS EDITION

Bretz RV & Marine completes massive expansion and is looking to hire DAVID ERICKSON david.erickson@missoulian.com‌

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retz RV and Marine in Missoula was already the largest dealer of its kind in Montana before the company underwent a massive expansion this past summer.

“We did a number of things out here on the property,” said manager Matt Madsen.

“The most noticeable is the 15,000 square feet we added of showroom space. We elected to glass it all in, so as you drive by on the Interstate, you can kind of take a peek in to see what we have.

“In Montana, it allows us to extend our season. We will have a place, when we have six inches of snow on the ground, where people can come look at RVs and boats and be warm and not have to be shoved around the lot in freezing cold weather.”

The company, headquartered at 4800 Grant Creek Road, also doubled the size of its overnight parking area for customers from 11 to 22 spaces.

“We have a lot of out-oftown customers,” Madsen explained. “We provide overnight parking when they come in for service or for a new motor home or fifth-wheel. We offer water hookups and added a second RV dump station for people that are traveling from out of town to have service work done.

It’s a really nice feature to offer our customers.”

The company currently has 114 employees and is looking to hire multiple positions at its Missoula, Boise and Billings locations.

“We are looking for everything from good qualified technicians to sales people,”

KURT WILSON, Missoulian‌

Bretz RV and Marine has added 15,000 square feet of showroom with large banks of windows so people can see inside from the nearby U.S. Interstate 90.

Madsen said. “We are hiring in almost every capacity, and that number is definitely poised to grow here. We are looking to expand at all three locations.

It’s good. The economy is solid, banks are getting aggressive when it comes to lending, and RVs provide affordable family fun. Young families want to be able to go out on the lake and camp out. It’s been a pretty solid year.”

Madsen said that although baby boomers who want to hit the road in their retirement make up a large portion of the business, it’s actually young families who are driving the growth of the RV industry in the Northwest.

“We are seeing more young families buying trailers, more people that have never owned RVs before buying stuff,” he explained. “We have brand

new travel trailers that start at payments of less than $100 a month, so a lot of families see the value in these and want to get out.

“When you get old, you look back at your memories of camping with your family as a kid and those are some of the best memories. Even if it was pouring rain the whole time. So that’s one of the best indicators of what’s going on in

the industry, is you are seeing first-time customers more than in any of the 12 years I’ve been here, which is really cool.”

Madsen said the RV industry is growing steadily.

“Here in the state of Montana, the numbers are really, really good,” he said. “So we are looking to keep up with demand and grow the business.”

For more information, visit bretzrv.com.

8 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

Massage on Broadway offers upscale, relaxing atmosphere for various massage styles Massage on Broadway is strategically located between the courthouse and St. Patrick Hospital and offers customers a modern, upscale and relaxing atmosphere.

“We’re all about massage. We’re professional and medical-based.

It’s all about relaxation.”

Owner Ashley Rowberry, assage on Broadway, a Montana native, wanted to which opened at 400 have a place located downtown West Broadway on Oct. between the courthouse and St. 15, is a locally owned massage therapy double studio that offers Patrick Hospital that would be easily accessible and offer offa modern, upscale and relaxstreet parking. ing setting.

Customers can also ask for According to marketing aromatherapy, which is the manager Josh Rhines, the two full-time massage therapists on implementation of essential oils as an addition to any masstaff are highly trained in varisage services. ous styles.

“Some of our popular thera“They are trained in techpies are ‘thieves,’ frankincense, niques such as deep tissue, lavender, eucalyptus/pepperSwedish, sports massage for mint and rosemary,” Rhines said. athletes, because massage can Rhines added that when peohelp with recovery time and healing, structural massage and ple pay for a certain amount of cranial sacral, with is an Eastern time, they get that full amount technique to help with migraines and headaches,” Rhines said.

See MASSAGE, Page 11 DAVID ERICKSON david.erickson@missoulian.com‌

KURT WILSON, Missoulian‌

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Western Montana InBusiness, Winter 2015-16 — 9

BUSINESS: PROGRESS EDITION

Missoula Brewing Co. offers gathering place near North Reserve DAVID ERICKSON david.erickson@missoulian.com‌

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ob and Shannon Lukes, who own and manage the new 17,000-square-foot Missoula Brewing Co. on International Drive off North Reserve Street in Missoula, said the business has been openly embraced by the community.

“They are going wild,” Shannon Lukes said of her customers. “We’re doing great. Things are very, very busy in here, which is great. People seem to love it. We have a lot of families and kids come in.”

The place, which opened this past summer, employs 35 people and features a pizza kitchen, a huge taproom and an outdoor patio.

“We offer pizza by the slice and by the whole pie,” Lukes said. “We have 12 beers on tap and salads. We have a lot of events here, it’s a big space. People are digging it.”

The brewery revived the Highlander beer brand, which became famous in the early 1960s in Missoula.

Lukes said the brewery’s location has been a hit with the community on the western edge of town that had longed for a gathering place.

See BREWERY, Page 11

A large deck and grass area makes a comfortable space on the bank of Grant Creek for patrons of the new Missoula Brewing Co. to enjoy.

KURT WILSON, Missoulian‌

10 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

TOM BAUER, Missoulian‌

Clothing retailer H&M opened a 22,000-square-foot store this year in Southgate Mall.

Southgate Mall in the midst of significant expansion, renovation This year, clothing retailer H&M opened a new 22,000-square-foot store on the east side of the mall in the outhgate Mall, Missoula’s space formerly occupied by the huge, locally owned shopGap, which relocated to another ping and dining center at 2901 Brooks St., has undergone space. The Sweden-based firm is known for its “fast-fashion” some big developments this apparel and has stores in past year.

54 countries.

With more than 100 stores This past September, the Misfeaturing everything from sporting goods to electronics to soula Redevelopment Agency’s board of directors approved a apparel to jewelry to burgers to Asian cuisine, it’s hard to imag- request to apply $6.9 million in ine walking away empty handed. tax increment financing to help DAVID ERICKSON david.erickson@missoulian.com‌

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build a new road between Brooks and South Reserve and give the mall a boost in launching a $64 million major renovation and expansion.

The project is expected to transform the property into a neighborhood hub featuring a new multi-screen movie theater, a grocery store and more retail stores. Plans also include housing developments, a parking structure and additional amenities to accommodate increased traffic and population density.

The street that will be built will create a new east-west connector between the mall and Reserve Street, and will include a bike and pedestrian path.

Peter Lambros of Southgate Mall Associates has said the redesign will allow the mall to turn outward, with more storefronts facing the street and outdoor dining options.

Southgate Mall Associates has already invested $18 million acquiring surrounding properties, including the old

Val-U Inn, Curley’s Broiler and Paxson Plaza. It has also invested $7.5 million in interior renovations.

Plans for a new movie theater and lifestyle retail center, which will cost an estimated $21.7 million, are in the works and the theater is expected to be ready by January of 2017.

The development is expected to revitalize a large swath of midtown Missoula.

For more information, visit shopsouthgate.com.

Western Montana InBusiness, Winter 2015-16 — 11

FROM PAGE 6 Property Continued

“We started leasing the first building in June and the second building in

Massage Continued

of time in massage.

“Some other places and chains take out 10

August,” she said. “The first 40 units were fully leased within a month, and the other 40 were fully leased in the second month.

There is a high demand for affordable housing here.”

Two 10-year-old apartment buildings that the company manages, the 59-unit Alpine Meadows Apartments and the Mountain Shadows Apartments, are also usually

fully occupied.

Featherly said turnover in Missoula is highest in the summer months. She explained that her company usually acquires clients— owners of multi-family

housing developments— through working with them over a period of time.

“There are clients that I’ve worked with for a number of years, and they are going along with the

need for apartments that need to be built, and when they’ve added onto that portfolio they call us,” she explained.

For more information, visit rentinmissoula.com.

misconception that massage therapy is sort of like a spa. But our clientele is about 50/50.”

For more information, visit their Facebook page or go to massageonbroad waymissoula.com.

FROM PAGE 8 minutes of that time for set-up and consultation,” he explained.

Rhines said that walkins are accepted, but he suggests people call for appointments.

“We’ve had a great response so far,” he said.

“We have had many people that have come in after surgeries or with back problems, migraines and injuries. Massage

helps speed up the recovery process and alleviate pain. We also have a lot of male clients. There is a

FROM PAGE 9 Brewery Continued

“It’s really nice,” she said. “There are a lot of homes out here, so people come in all the time and tell me how much they appreciate that we are here. There are places to

go on North Reserve, but there’s just a lot of big box store stuff. We make all our pizza from scratch, we make our own dough. It’s really kind of nice. We stay busy. It’s a destination all over here.”

Bob Lukes – who puts on the Missoula Celtic Festival each year with his

wife – said he has a “great love of history and of beer.”

“I combined that into trying to revive this old brand of Highlander that was so important to this community for so many years,” he said.

For more information, visit missoula brewingcompany.com.

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12 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

Taste Buds kitchen offers culinary entertainment for kids and adults “So far, everything is going well,” Alex Fregerio said. “It’s been open a little over three months and we’ve had a lot of classes. We’re starting he term “culinary entertainment” wasn’t well-known among our first afterschool program at St. Missoulians until this past sum- Joe’s Elementary School, and that has mer, when Alex Fregerio and his wife almost 40 kids signed up.”

They also added a “tailgating” Christine opened Taste Buds Kitchen food class for adults to prep for at 131 E. Main St. downtown.

Griz games.

The studio is a place where adults “It was popular,” Fregerio said. can bring their own beer and cock“They learn to make a bunch of tails and learn to make sushi or New tailgating recipes that they can do the York-style pizza at night, and kids night before.” can engage in “cupcake wars” and Fregerio also partnered with The learn solid cooking skills for life durDram Shop downtown for an event ing the day. where parents could sip a beverage Cooking classes for kids include while kids learned to make treats. workshops on parfaits, empanadas, “We’ve been doing classes on Halrainbow cupcakes, ice cream cones, loween spooky cupcakes, and we’ve macaroni and sprinkle doughnuts. been doing a lot of ‘Frozen’ classes,” Adults can bring a date and learn Fregerio said. “We are getting into to make dumplings, Spanish tapas, gingerbread houses now too.”

Italian food, handmade pasta and For more information, visit brunch. Also, there are adult cuptastebudskitchen.com /missoula. cake wars.

DAVID ERICKSON david.erickson@missoulian.com‌

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TOM BAUER/Missoulian‌

Taste Buds Kitchen, opened in downtown this past summer, is a place where adults and kids can participate in “culinary entertainment.”

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Western Montana InBusiness, Winter 2015-16— 13

BUSINESS: PROGRESS EDITION

TOM BAUER, Missoulian‌

Bulls Eye Wear designs and makes custom eyeglasses for sporting activities, computer use and everyday use.

Bulls Eye Wear offers custom and routine eyeglasses for sporting and everyday use the industry for over 20 DAVID ERICKSON david.erickson@missoulian.com‌ years. “We also take exams

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here are all kinds of different sporting activities to do in Montana, so it only makes sense that there would be all kinds of different equipment to enhance people’s most important sense: vision.

Bulls Eye Wear at 2910 S. Reserve St. in Missoula is a locally owned eyeglass shop that designs and makes custom eyeglasses for all different types of uses.

“We do a lot of custom work, but we also do routine eyeware,” said owner Lynette Schaefer, a master optician who has been in

from any doctor. If people come in with prescriptions, we can fill those.”

The store offers eyewear for archery, shooting, cycling and marathon runners.

“Just about anything you need glasses for, we can do, including specialized driving glasses and sunglasses,” she said. “There have always been specialized glasses for different sporting activities, but they’ve just not been offered a lot in this area. There are so many sporting activities going on here, and a lot of people are just using their everyday pair and making it work.

“Another issue is computer use. We have specialty computer glasses. Those are set up more for the distance between you and the computer. We also have lenses that block UV radiation and blue light from the computer. If you look at a screen right before you go to bed, that blocks the production of melatonin and you can’t sleep. These new lenses help you sleep better and cause less neck and eye strain for people with bifocals.”

The shop is open from 9 a.m. until 7 p.m. Tuesday through Friday and from 10 a.m. until 2 p.m. on Saturday. For more information, visitbullseyemt.com.

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14 — Western Montana InBusiness, Winter 2015-16

BUSINESS: PROGRESS EDITION

Renovated Wilma sees run of sold-out shows Ray Barrows mops the stage floor of the theater, raised 21 inches in the renovation to provide better views from throughout the venue.

CORY WALSH cory.walsh@missoulian.com‌

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ince the Wilma Theatre held its grand reopening at the beginning of October, the extensively renovated Grand Old Dame of downtown Missoula has hosted sold-out shows

by My Morning Jacket, Godsmack, Shakey Graves, Patty Griffin, and two nights and three performances of “The Rocky Horror Show Live.”

Others like EDM group Big Gigantic were close, too, sometimes within 10 tickets.

“We’ve gotten a ton of compliments on the sound,” owner Nick Checota said. He also noted that people like the new tiered stage and the new bars. The seated shows have also gone off well.

“Godsmack was really something,” he said. The journeyman metal act was moved from the Adams Center and he and his staff accommodated a full-capacity crowd with arena production on 24 hours’ notice.

Nick and his wife Robin, who also own the Top Hat, invested significant funds in a new

KURT WILSON, Missoulian‌

line-array sound system and digital soundboard, plus a new tiered stage.

The removal of the seats on the bottom level, with the addition of tiers, increases the capacity to 1,400 people.

In addition to live

music, the venue has hosted events and fundraisers. It’s available for private gatherings like weddings and banquets, and Checota said there’s a “flood” of inquiries coming in.

The 100-year-old hall

can still sometimes be tricky to mix, he said, and acts like Dave Rawlings Machine, who didn’t use any monitors or on-stage gear and had engineers experienced with the soundboard, worked out the best.

The schedule through February has mostly filled out, including the Big Sky Documentary Film Festival, and music fans expect more to come.

A new venue takes time to gather steam, Checota said, estimating

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that it will take about a year from the reopening date to build a reputation with booking agencies and “become a place that people want to go out of their way” to play.

“We’ll get there,” he said.

Western Montana InBusiness, Winter 2015-16 — 15

HOME AND WORK by the numbers

$247,000 $210,000 $225,950 $205,000 $220,500 $235,000

Missoula County for Jan. 1 through Oct. 31, 2014 2015 2014 2013 2012 2011 2010

1,339 1,204 1,301 1,051 835 867

Source: Missoula Organization of Realtors

$240,000 $225,000 $218,000 $205,000 $207,000 $201,000

118 125 120 137 136 126

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La

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-0.2% -2.2% -4.4% 1.1% 0.8% 1.6% -0.7% 0.2% -0.7% -0.2% -0.5% 0.1%

3.9%

3.3%

3.3%

2.8%

7.1%

Sept. 2015

6.9%

4.2%

5.2%

Average days on the market

118 122 118 156 145 123

-0.9 -0.2 -1.1 0.2 0.8 0.1 -0.2 0.1 -0.5 -0.1 -0.1 0.1

Sept. 2014

3.8%

146 113 110 117 80 74

Percent change 1 month

NOTE: Total non-agricultural uses the summation of all sectors.

4.1%

2015 2014 2013 2012 2011 2010

Median price

3.7%

Number of sales

453.7 9.2 24.5 19.0 93.0 6.4 25.0 39.8 69.9 60.3 17.6 89.0

Unemployment rate by county

Residential market activity in Missoula County Year

Net change 1 month

*Not seasonally adjusted Source: Montana Department of Labor and Industry

3.7%

103 113 110 125 127 120

457.3 8.9 24.8 18.7 94.8 6.2 27.1 40.3 70.9 59.6 18.3 87.7

3.0%

$240,500 $225,000 $215,125 $205,950 $206,000 $200,000

(thousands)

7.5%

1,056 948 1,038 834 656 722

(thousands)

456.4 8.7 23.7 18.9 95.6 6.3 26.9 40.4 70.4 59.5 18.2 87.8

5.8%

2015 2014 2013 2012 2011 2010

(thousands)

8.4%

Missoula urban area for Jan. 1 through Oct. 31, 2014

Sept.

2014

7.3%

107 115 108 154 139 120

4.9%

$249,000 $214,000 $224,900 $204,250 $215,000 $235,000

Average days on the market

Aug. 2015

4.4%

105 96 91 97 61 54

Median price

5.4%

2015 2014 2013 2012 2011 2010

Number of sales

5.2%

Year

Sept.

2015

Total nonfarm Natural resources, mining Construction Manufacturing Trade, transportation, utilities Information Financial activities Professional, business services Educational, health services Leisure, hospitality Other services Government

5.1%

Residential market activity in Missoula urban area

Super sector

4.4%

Residential and residential with acreage

Industry employment comparisons (in thousands)

3.5%

Residential market activity in the Missoula area for October 2015

ll lli al la rs ne NA er we va ou de a o s sto NTA n s P R a w i M S O M llo M Ye in

Unemployment in Missoula County, September 2014-September 2015 3.7%

3.7%

4.2%

4.4%

5.1%

4.6%

4.5%

3.7%

3.1%

3.7%

3.7%

3.4%

3.0%

Sept.

Oct. Nov. 2014

Dec.

Jan.

Feb.

March

April

May 2015

June

July

Aug.

Sept.

Unemployment in Montana, September 2014-September 2015 3.9%

4.1%

4.6%

4.6%

5.3%

4.9%

4.7%

3.9%

3.4%

4.0%

3.8%

3.7%

3.3%

Sept.

Oct. Nov. 2014

Dec.

Jan.

Feb.

March

April

May 2015

June

July

Aug.

Sept.

Source: U.S. Bureau of Labor Statistics

NOTE: Not seasonally adjusted.

KEN BARNEDT, Missoulian

16 — Missoulian, Sunday, November 22, 2015

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