Butte MT Housing Market Update: Values, Inventory, Listings, Rates
Butte, MT – February 28, 2026 – Home values are near $272K with modest year-over-year gains, while active inventory and mortgage rates around 6% keep buyers focused on payment a…
Butte’s housing market is heading toward spring with relatively steady pricing, and many shoppers are weighing older homes that need updates against renovated, move-in-ready options. Mortgage rates remain a major part of the monthly-payment math, so side-by-side comparisons are common even when list prices look similar.
Key takeaways
- Typical home value: about $272K, up 2.7% year over year (Zillow).
- Late-2025 indicators showed a median sale price near $296K and a sale-to-list ratio around 97.7%.
- Rental asking levels averaged about $1.3K, up year over year.
Inventory and what’s for sale
On Zillow’s market dashboard (data through Dec. 31, 2025), Butte showed roughly 165 homes for sale and 29 new listings. That points to selection that’s available but not overflowing, which can put extra emphasis on home condition, repair budgets, and how long a property has been sitting.
Zillow’s active search also shows about 249 results across houses, condos, and land. Common buckets include:
- Smaller, older homes under about $250K.
- Move-in-ready 3–4 bedroom homes in the mid-$300Ks to $400Ks.
Mortgage rate backdrop
Freddie Mac’s PMMS reported the average 30-year fixed rate at 6.09% (Feb. 12, 2026). With rates near this level, small changes can still matter for affordability, so pre-approval refreshes and rate-lock conversations can help keep offers realistic.
Local watchlist: are you seeing more price cuts, or more competition for the best-kept listings?