Great Falls Housing Market Update: October 2026

The Great Falls housing market in October 2026 had fewer homes for sale, fewer sales and prices that held steady. Median list price was $349,950, up 1.4% from October 2025. 65 homes sold, down from 81 a year ago. Active listings fell to 222, down 18% from last October, and only 64 new listings came on the market. Homes that closed sold at an average of 99.7% of list price after an average of 95 days on market. Inventory sits at 3 months, which is generally considered balanced. Heading into November, 105 homes are under contract.

All figures come from Montana Regional MLS residential data for the Great Falls area. Here is the breakdown.

What is the median home price in Great Falls right now?

The median list price in October 2026 was $349,950. That is $5,000 higher than October 2025.

Prices have moved in a fairly tight band all year. The 2026 monthly median list price bottomed at $330,000 in April and peaked at $379,000 in May. September came in at $350,000, so October was flat month over month.

One thing to keep in mind: this is list price, not sale price. With homes closing at 99.7% of asking on average, the two are close, but they are not the same number.

How many homes sold in Great Falls in October?

65 homes closed in October 2026. That is down from 95 in September and down from 81 in October 2025.

A drop from September to October is normal for Great Falls. Sales peaked this year at 114 in July and have stepped down each month since, with the exception of a bump in September. Year to date, 816 homes have sold through the end of October.

How many homes are for sale in Great Falls?

222 homes were active on the market at the end of October. That is the lowest active count of 2026 and 48 fewer than the same time last year.

The bigger story is new listings. Only 64 homes came on the market in October. Every other month this year had at least 71, and the spring and summer months each had 100 or more. With 65 sales against 64 new listings, inventory shrank again.

If you are thinking about selling your home in Great Falls, this is the context: fewer competing listings than at any point this year.

How long are homes taking to sell?

Homes that closed in October averaged 95 cumulative days on market. That is up from 67 days in September and 71 days in October 2025.

This number can be misleading on its own. Days on market measures the homes that closed in October, and many of those were listed during the busier summer months. A home that went live in July and closed in late October shows up as 90+ days. It does not mean a home listed today should expect to sit for three months. Pricing, condition, and property type still matter more than the calendar.

Are sellers getting their asking price?

On average, yes. The close-to-list price ratio was 99.7% in October. From April through September, it was 100.0%, so October slipped slightly but stayed within a few tenths of a point of full asking.

For a seller listing at $350,000, a 99.7% ratio works out to roughly $1,000 off asking on average. That is a small gap, and it points to homes being priced close to what buyers are paying.

How many homes are under contract right now?

105 homes in the Great Falls area were pending as of November 2, 2026. That is nearly half as many as the 222 homes actively for sale, and it is more than the 65 that closed in all of October.

The homes going under contract skew toward the middle of the market. The median list price of the pending homes is $339,900. 57 of the 105, or 54%, are priced under $350,000. The single most common price band is $300,000 to $349,999 with 22 homes. 19 homes, or 18%, are priced at $500,000 or above.

Single-family homes make up most of the pending list, with condos, townhomes, and manufactured homes filling in mainly below $450,000.

Those 105 homes averaged 67 days on market before going pending, which is shorter than the 95-day average for October closings. Homes attracting offers right now are moving faster than that closing number suggests.

Is Great Falls a buyer's or seller's market?

October closed with 3 months of inventory. The usual rule of thumb is that under 3 months favors sellers, over 6 months favors buyers, and anything in between is balanced. Great Falls has sat at 2 to 3 months for most of 2026, with brief readings of 4 in May and 5 in January.

By that measure, the market is balanced, leaning tight. Buyers have fewer homes to choose from than last year, and sellers are not seeing a flood of new competition.

What this means if you are selling

Four things stand out from the October data.

Competition is low. 222 active listings is the fewest this year.

Buyers are paying close to list. 99.7% of asking on average.

Buyers are still writing offers. 105 homes went under contract heading into November, most of them priced between $200,000 and $450,000.

Homes are taking longer to sell than they did in the summer. Pricing accurately from day one matters more as the season slows.

If you want to know where your home fits in these numbers, we can pull comparable sales for your specific property. A home valuation takes about a day, and there is no obligation.

What this means if you are buying

Inventory is tighter than a year ago, so the right home may not have a backup. At the same time, homes are sitting longer than they did in summer, which can open up room to negotiate on properties that have been listed for a while.

The average 30-year fixed rate was 7.24% the week of November 2nd, according to Freddie Mac.

If you are relocating or buying a home in Great Falls for the first time, the slower winter months often mean more time to look and less pressure to decide same-day.

About this data

Figures are from Montana Regional MLS monthly statistics for residential listings in the Great Falls area, pulled on November 2, 2026. Median price is the median list price. Days on market is cumulative days on market (CDOM) for homes that closed during the month. Months of inventory is calculated by the MLS. Pending figures are a snapshot of homes under contract on November 2, 2026, and are not a monthly total. Painted Sky Realty Group publishes this market update monthly.

Wondering whether these numbers mean you should sell this year or wait? Our guide on selling your Great Falls home now or waiting until 2027 walks through the three situations that decide it.

Sources

• Montana Regional MLS, October 2026 residential statistics, Great Falls area. Information deemed reliable but not guaranteed.
• Freddie Mac Primary Mortgage Market Survey