Kalispell Market Report: Residential Homes - July 2021

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

Following is an overview of the Kalispell Montana real estate results for the residential market as of July 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes. 

 

The Kalispell residential market continues to be a strong sellers market. That being said, there are signs for the third month in a row that the market may be slowing down slightly.

 
Sales Volume

In the month of July 2021, there were 131 residential sales in Kalispell which is steady from last month and 10% less than last year. If you look at the chart below, it appears sales rates are similar to last year, but are occurring a month earlier. For example, sales started increasing in May last year (a late start due to Covid), compared to April this year. Sales were also basically flat in July and August of 2020, but this year they are flat in June and July. The point is that this year is behaving similar to last (so far).

 

As of the end of July 2021, there have been 715 sales in Kalispell, which is 15% more than the same time last year. So this is a strong year in terms of homes sold.  

Kalispell Market Report: Residential Homes - July 2021 - line chart of sales per month
 
 
Inventory

In terms of available homes on the market, inventory has increased for the third month in a row. At this time last month, there were 135 residential homes on the market and now there are 163. Increasing inventory is providing additional options for buyers which is great news!

 

Of the homes currently available, 23 are condominiums, six are townhouses, eight are manufactured homes and the rest are single family homes.

 

In the past twelve months, 1,379 residential homes sold in Kalispell which is an average of 115 per month. With 163 homes currently for sale, that means there are about a 1.4 months of inventory currently available. That is the third increase in a row and while it's just a small increase, it is another positive sign for buyers.  

 

Kalispell Market Report: Residential Homes - July 2021 line chart of under contract and active  

While Kalispell continues to experience a strong sellers market, the inventory of available homes is increasing. That presents hope for buyers that the market may be slowly improving for purchasers. Still, buyers must be ready to make a strong offer as soon as they find a home they love! There are still multiple offers on appropriately priced homes.

 
Median Sales Prices

Median sales prices also remain strong in the Kalispell area. The median sales price for July 2021 was $445,000 which was 37% higher than last year and 5% higher than last month. So far this year, median prices have continued to outperform 2020.

 

In terms of pricing, of the currently active listings, 27% percent have seen price decreases, most within the last few weeks. This does point to potential lessening of median price increases going forward. 

 

Kalispell Market Report: Residential Homes - July 2021 bar chart of median sales prices

 
 
 
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 June sold for approximately $180K. It was a 892 square foot two bed, one bath ranch home with carport on a 1/3 acre. It was being sold "as is." The most expensive home was also a ranch home, but this one with ~3,800 square feet, 40 acres of land, a guest home, 30'x'50' heated garage, 40'x40' shop, and mountain views!  That sold for approximately $3.0M.

 

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

 
Summary

The residential real estate market in Kalispell Montana continues to be strong with increasing inventory. Based on recent price reductions and the lower number of homes under contract, the market appears to be settling down. The next report should continue to be interesting.

 

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, or need help selling your home or finding that perfect new home to purchase, call me! 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. This post was originally published at thehousekat.com.

Posted by

Licensed Broker, CBR®

 

eXp Realty LLC

P.O. Box 10458

Kalispell, MT 59904

 

email: kat@thehousekat.com

www.thehousekat.com

 

406-270-3667 (MT)

 

facebook    Kat's Homes

 

 

Comments (16)

Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Kat - your market might be ahead of the curve with increasing inventory.  The report was really very informative and comprehensive.

Aug 05, 2021 11:59 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kat, very detailed and easy to understand market report for Kalispell.   Interesting you are seeing increases in inventory also.

Aug 05, 2021 01:34 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Grant Schneider !

 

Yes, Joan Cox - I thought the middle chart was most interesting. Under contract decreasing while inventory is increasing. 

Aug 05, 2021 03:35 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Kat - it's interesting to read that recently Kalispell Montana real estate inventory of homes for sale has grown three months in a row.  This type of local information is important to know for those interested in making a move.  Nuances in eah market make a difference.  

Aug 06, 2021 04:23 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Michael Jacobs - and real estate is so local! Enjoy your Friday!

Aug 06, 2021 04:48 AM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

Inventory increasing in Kalispell...that's really good news for home buyers. I haven't seen this happen for a while in most other places.

Aug 06, 2021 05:33 AM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

With inventory increasing, it seems like Kalispell is headed in a good direction and I hope that you are staying busy.

Aug 06, 2021 05:47 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Families on the move will appreciate your excellent local real estate reports.

Aug 06, 2021 06:29 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat and thanks for the marketing report for July of what is happening in your area,  Make it a great day!

 

Aug 06, 2021 06:31 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Kat... as always, an excellent report on the Kalispell housing market. How nice to see inventory increasing... wish we saw more of that at my end of the world.

Aug 06, 2021 08:25 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have to agree with Nina Hollander, Broker, I too would like to see more inventory but I think Buyers are slowing down because of school starting soon.  When does school start there Kat Palmiotti 

Aug 06, 2021 03:11 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 - I'm glad it's happening here.

 

Thank you Brian England !

 

Roy Kelley - Thank you!

Aug 06, 2021 03:28 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Will Hamm - I hope your day was wonderful also!

 

Nina Hollander, Broker - It's definitely good to see!

 

Paul S. Henderson, REALTOR®, CRS - school starts in late August here. What about in your area?

Aug 06, 2021 03:29 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kat. With inventory rising the future looks bright. Never been to Montana but if Chicago continues its downward spiral, you just never know. Enjoy your day.

Aug 07, 2021 05:49 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Wayne Martin - you never know! We could be having coffee together at Coulter Coffee or Sable Coffee some day in the future! (Or wine at one of our wineries!)

Aug 07, 2021 07:32 AM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Kat Palmiotti - There is no getting around it, the price of a home has increased from 2020, and buyers and sellers need to be ready for that increase in Kalispell. 

Aug 07, 2021 05:09 PM