Following is an overview of the Kalispell Montana real estate results for the residential market as of October 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market remains a sellers market. That being said, there are signs for the sixth month in a row that the market is slowing down slightly.
Sales Volume
In the month of October 2021, there were 95 residential sales in Kalispell which is just slightly less than last month and 14% less than last year.
There are currently 211 homes under contract, which is slightly more than last month.
As of the end of October 2021, there have been 1,002 year-to-date sales in Kalispell, which is 4% less than the same time last year. So both the number of sales in October, and the number of sales year-to-date have decreased. This is another small sign that the market is slowly moving more towards a balanced market.
Inventory
In terms of available homes on the market, inventory is 30% lower than last month, which is the second month of decreasing homes on the market. At this time last month, there were 154 residential homes on the market and now there are 108. Luckily, if you are a buyer there are still options. And if you are a seller, it is still a seller's market.
Of the homes currently available, eight are condominiums, four are townhouses, three are manufactured homes and the rest are single family homes.
In the past twelve months, 1,237 residential homes sold in Kalispell which is an average of 103 per month. With 108 homes currently for sale, that means there is about one month of inventory currently available. That indicates that while sales are slowing, it is still a seller's market.
Because Kalispell is still experiencing a seller's market, 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
While Kalispell median sales prices remain higher than last year, they were 2% lower in October 2021 than in September. The median sales price for October 2021 was $420,000. This is the second month in a row of decreasing price points. Another hint to the changing market is that 32% of all homes currently on the market have had price decreases.
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 October sold for less than $180K. The property was marketed as an "investor special" and it was a 980 square foot mobile home with three bedrooms and one bath on the east side of Kalispell. The most expensive home was a ~4,300 square foot waterfront log home with five bedrooms, four baths, a five car garage and more. This home sold for under $3M.
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. Based on slowing sales, recent price reductions and median price decreases, 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.
Originally published at thehousekat.com.
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