Kalispell Market Report: Residential Homes - August 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 August 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 sellers market. That being said, there are signs for the fourth month in a row that the market is slowing down slightly.

 

 

Sales Volume

In the month of August 2021, there were 93 residential sales in Kalispell which is 29% less than last month and 35% less than last year. There are currently close to 200 homes under contract, so homes are definitely still selling, but demand does seem to be slowing. As of the end of August 2021, there have been 808 sales in Kalispell, which is only 6% more than the same time last year. It will be interesting to see how we are doing at year end.  

 

Kalispell Market Report: Residential Homes - August 2021 line chart sales in kalispell
 
 

 

Inventory

In terms of available homes on the market, inventory has increased for the fourth month in a row. At this time last month, there were 163 residential homes on the market and now there are 182. Increasing inventory continues to provide additional options for buyers which is great news!

 

Of the homes currently available, 15 are condominiums, four are townhouses, 11 are manufactured homes and the rest are single family homes.

 

In the past twelve months, 1,320 residential homes sold in Kalispell which is an average of 110 per month. With 182 homes currently for sale, that means there are about a 1.7 months of inventory currently available. That is the fourth increase in a row and while it's just a small increase, it is another positive sign for buyers.  

 

Kalispell Market Report: Residential Homes - August 2021 line chart inventory and under contract  

While Kalispell continues to experience a 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 in Kalispell had a very strong month. The median sales price for August 2021 was $498,000 which was 36% higher than last year and 12% higher than last month. Median prices continue to outperform 2020.

 

In terms of pricing, of the currently active listings, 28% percent have seen price decreases, most within the last few weeks. This might point to potential lessening of median price increases going forward.  

 

Kalispell Market Report: Residential Homes - August 2021 bar chart 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 August sold for less than $190K. It was a 1,280 square foot three bed, two bath remodeled manufactured home on a quarter acre. The most expensive home was a ~4,800 square foot home with 6 bedrooms, 4.5 bathrooms on nearly 10 acres. It also had a riding arena, several insulated shops, barn, hay shed, storage shed and more. This home sold under $1.5M.

 

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, 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. IAlso, 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.

 

Originally posted 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 - an excellent explanation and evalution of the market.  Buyers and sellers should have confidence that you know how to gauge and price the market.

Sep 10, 2021 10:45 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Kat... well, we've seen drops in sales (not as high as yours), but those are due to lack of inventory not lack of demand.

Sep 10, 2021 10:49 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Hi Grant Schneider - and thank you!

Nina Hollander, Broker - I understand that! We have twice as much inventory now as we did six months ago. 

Sep 10, 2021 11:17 AM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Kat- another excellent market report for Kalispell. I know it's still a seller's market but what do you think the reason for signs that the market might be slowing down. 

Sep 10, 2021 11:28 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I think there was a big rush of people who wanted to move here from other states, or get a second home here, during the pandemic. I'm thinking most people who wanted to come have already come.... 

But we'll see what next month brings, Kathy Streib 

Sep 10, 2021 02:03 PM
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You do a great job with your videos!  Anyone in Kalispell should feel confident that the House Kat will be there for their real estate needs!

Sep 11, 2021 05:35 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

Kat, You know your Kalispell Real Estate market well, and both buyers and sellers will appreciate your knowledge.

Sep 11, 2021 06:31 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat and thanks for the market report for your area.  Always good to see what is happening in other areas.

Sep 11, 2021 09:03 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Brian England !

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400 - Thank you!

Hello Will Hamm - thanks for stopping by!

Sep 11, 2021 12:24 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good Saturday evening, Kat.

I hope you are having a very special weekend.

Sep 11, 2021 06:15 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Roy Kelley - I wish the same for you!

Sep 12, 2021 05:00 AM
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Kat Palmiotti - What a great video! You remain confident and convincing in disclosing your interpretation of the current residential market in Kalispell. I like people who are believable and informative while remaining poised in person or in a video presentation. Good job!

Sep 12, 2021 05:48 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Patricia Feager, MBA, CRS, GRI,MRP - I am getting a little more comfortable with seeing myself on video. Sort of. Haha.

Sep 12, 2021 06:21 AM
Patricia Feager, MBA, CRS, GRI,MRP

Kat Palmiotti - One day, I will get a new iPhone and will be able to take videos. I promise you, I'll send you the video and you will see how great you are compared to someone who never did it before. LOL!!!

Sep 12, 2021 06:42 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

I hope you had an outstanding weekend.

Make this a productive week.

Sep 13, 2021 05:51 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, your market is similar to ours, since mid-July we have seen the market shift a bit too.

Sep 13, 2021 06:15 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Thank you Roy Kelley - I wish the same to you.

Joan Cox - Yes, just little shifts on a regular basis can make quite the difference in a year's time....

Sep 13, 2021 09:01 AM