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Anaconda Montana had a lot of cheap houses when we lived there in 2002. Now, unfortunately, there really don't seem to be any houses under $50,000 that are ready to move into. Everything in that price range is a serious fixer-upper. The home we bought (see the photo on the home page) for $17,500 five years ago, would sell for close to $80,000 now. We sold it for $28,000 four and a half years ago.
Some two bedroom homes are selling for as much as $150,000, and at least one home shopper told us he couldn't find anything livable for less than $150,000. We did our own research in August of 2007, and found that while prices had doubled or more, there were still decent homes under $100,000. A photo of one is below.
The most significant thing about home prices in Anaconda at the moment is the unpredictability of pricing. The home above was superior (to my wife and I) to another two-bedroom that had a price of $115,00 on it. It seems that the town is just beginning a boom time in real estate, and sellers aren't sure how to price.
There is also a wide variety of houses and locations in Anaconda. The west side of town is preferred by most people it seems, as reflected in the higher prices there. I personally like the east side for its proximity to the stores and casinos and library, but there are some neighborhoods here that are full of real rough houses. Some of them have been empty for years. The rough part of town here is an entirely esthetic issue though - there is no serious crime.
The home that is for sale for $115,000 (mentioned above) was apparently purchased for somewhere between $25,000 and $30,000. There are still plenty of homes here that will sell in that range when they hit the market. If you like the idea of building "sweat equity," there are many opportunities.
More than one person told us about the Governor's new home up the highway at Georgetown Lake, as well as about the million-dollar homes there. With a golf course right in town, and resort home owners in the area that need to shop somewhere, it seems that the long economic slump may be over for Anaconda Montana.
For more information see our web site:
Anaconda
MT Real Estate.
Houses Under Fifty Thousand | Anaconda Montana Is Discovered