Kalispell Real Estate Market - March 2020

By
Real Estate Broker/Owner with 406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty RRE-BRO-LIC-75443

Following is an overview of the Kalispell Montana real estate results for the residential market as of March 2020. This report covers the entire residential market, which includes single family homes, townhouses, condominiums and manufactured homes.

 

In March 2020, Kalispell Montana sales and median prices were healthy. Following is an overview.

 
Sales Volume

In the month of March 2020, there were 92 residential sales which was 42% higher than March of 2019, and 84% higher than February 2020. To address the elephant in the room upfront, more than 80% of those sales were completed prior to Montana issuing a formal Covid-19 Stay-at-Home directive on March 26th. And while there has been a demonstrable decrease in the number of buyers who are interested in purchasing homes at this moment, there are closings that are still happening. As with much of the world, the real estate industry is embracing technological ways to show homes and complete closing documentation.

 

As mentioned in last month's report, the Spring market is well underway. There were 155 homes under contract at the beginning of March and there are 145 under contract now. So with 92 deals closing in February, that means 82 homes went under contract in March. Homes are definitely selling, although I do expect to see a decrease in activity during the month of April due to the current world health and financial situations.

 
Inventory

In terms of inventory, there are currently 257 residential homes on the market, which is 23% more than last month. Of the homes currently available, seven are condominiums, 24 are townhouses, six are manufactured homes and the rest are single family homes. In the last twelve months, 1,011 residential homes sold in Kalispell which means there are approximately three months of inventory currently available. That indicates the Kalispell area is experiencing a sellers market at this time.

 
Median Sales Prices

The median sales price for March 2020 was $309,250 which was slightly higher than the previous month. The median price has remained right around $300K for the last five months, so prices are continuing to remain relatively stable.

Kalispell Real Estate Market - March 2020
 
Type of homes being sold

To get an idea of the types of homes that are selling in Kalispell, the lowest priced home that sold in March was a two bedroom, one bath, ~850 square foot condo in the city of Kalispell with a one-car carport. That sold for right around $100K. The most expensive home sold for more than $2M.  That ranch home came with nearly 140 acres of land, lake frontage, 2,300 square feet of living space and a 1,760 square foot shop.

 

As can be seen, Kalispell has just about any kind of property you could imagine. Brand new four bedroom homes, large luxury homes, manufactured homes, small off-the-grid cabins and everything in between!

 

Summary

The residential real estate market in Kalispell Montana experienced a healthy March 2020. If you have any specific questions about Kalispell or any other part of the Flathead Valley or would like to see the market data for a specific residential segment, feel free to contact me. If you are wondering what you might be able to get for your Montana home, check out thisonline home evaluator. And if you need help selling your home or finding that perfect new home to purchase, I can be reached at 406-270-3667 or kat@thehousekat.com.

 

For more information on Kalispell, Montana, feel free to read this overview.

 

Previous Kalispell MT market reports can be found here.

 

Originally published at thehousekat.com.

Posted by

 

Kat Palmiotti, The House Kat

Licensed Broker, CBR®

 

Blackstone Realty Group - brokered by eXp

P.O. Box 10458

Kalispell, MT 59904

 

email: kat@thehousekat.com

www.thehousekat.com

 

406-270-3667 (MT)

 

facebook    Kat's Homes

 

 

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Show All Comments
Rainmaker
3,675,245
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Kat - any discussion these days is likely to address the 'elephant in the room' so your Kalispell real estate post addresses it and then moves onto the success achieved by buyers and sellers so far this year which will hopefully continue once everyday life resumes.  

Apr 06, 2020 06:32 AM #1
Rainmaker
1,590,442
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

I hope so, Michael Jacobs ! Thank you for your comment and have a wonderful day!

Apr 06, 2020 06:33 AM #2
Rainmaker
3,492,939
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Hi Kat... I've been looking at our March numbers just this morning... so far so good compared with March 2019... less sanguine about the numbers come April.

Apr 06, 2020 06:52 AM #3
Rainmaker
1,590,442
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Yes, Nina Hollander - I expect April to be a bit different. Enjoy your day!

Apr 06, 2020 07:42 AM #4
Rainmaker
963,209
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Good to see your market is active, we see homes going under contract in smaller numbers, but still they are going under contract. 

Apr 06, 2020 08:20 AM #5
Ambassador
3,301,550
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Those are some incredible numbers I have been seeing so many listings that are temporary off the market now that I fear what April will bring...

Happy Monday Kat Palmiotti 

Apr 06, 2020 09:41 AM #6
Rainmaker
1,590,442
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

Nick Vandekar, 610-203-4543 - I think both April and May will be lower.

Paul S. Henderson, REALTOR®, CRS - I think March was a very good month, but probably won't be repeated for a while.

Apr 06, 2020 09:52 AM #7
Rainmaker
1,757,489
Jeremy K. Frost
Keller Williams Realty - Dripping Springs, TX
Associate Broker, ABR, CNE, CRS, ePro, PSA, SRS

Appreciate you keeping us posted and up to date. Have a great week!

Apr 06, 2020 03:20 PM #8
Rainmaker
2,198,677
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Kat Palmiotti - I am hearing that numbers held up so lets see what happens going forward.

Apr 08, 2020 09:08 AM #9
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Rainmaker
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Kat Palmiotti

The House Kat
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