Kalispell Market Report: Residential Homes - October 2021

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

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.  

 

Kalispell Market Report: Residential Homes - October 2021 bar chart of sales

 

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.

 

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

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.  

Kalispell Market Report: Residential Homes - October 2021 bar chart of 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 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.

Comments (15)

Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Good morning Kat,

Another wonderful housing report on the Kalispell residential homes.  We are seeing people calming down, and the housing market slowing...A

Nov 09, 2021 08:39 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat and thanks for sharing this blog with us here in the rain.  Always great to see what other areas are doing.

 

Nov 09, 2021 09:33 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

An excellent report on the Kalispell housing market, Kat. I can't say we are seeing a whole lot of price reductions as yet at my end. 

Nov 09, 2021 09:52 AM
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

You can definitely see a slow down occuring in your numbers, but I am impressed at the size of the Kalispell market in terms of units sold. 

Nov 09, 2021 10:40 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Kat - the numbers alone are one thing but your trending lines confirm your report the market is starting to settle.

Nov 09, 2021 10:42 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

That's what I'm seeing here as well Ron and Alexandra Seigel . Enjoy your day!

There are many that have been doing the same things... Will Hamm 

Nina Hollander, Broker - which once again proves "real estate is all local!"

 

Nov 09, 2021 01:16 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Peter den Boer - is it bigger than you thought or smaller?

Visuals always help, Grant Schneider !

Nov 09, 2021 01:16 PM
Peter den Boer

Hi Kat,


For some reason I thought the market there was smaller. Seems pretty active.

Nov 11, 2021 05:30 AM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Kat- very thorough market report for Kalispell. It's interesting to see that in some areas the market seems to be cooling. 

Nov 09, 2021 05:53 PM
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Wonderful report, Kat! We are fairly similar with our overall summaries here in Charlotte as well. In fact, I just sent out a graphic that one of my clients was commenting on how many price reductions we have seen recently. 132 in a 7-day period is a significant number just in Charlotte (proper). 41 withdrawn is another 'odd' number for us during recent years as well.

Charlotte NC Market Summary

But, like you, we are still recommending, if you fall in love, you have to act quickly!

Nov 09, 2021 09:07 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Just a little, Kathy Streib , but it is.

Interesting graphic, Debe Maxwell, CRS - I'd been noticing some price decreases on the hot sheet, but when you see them all summarized, as in the chart above, it is definitely an important fact.

Nov 10, 2021 04:52 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

Your market reports include everything that one would want to know about what is going on in Kalispell.

Nov 10, 2021 04:57 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective sellers and buyers will appreciate your excellent local real estate reports.

Nov 10, 2021 05:06 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Thank you Brian England ! Enjoy your day!

Roy Kelley - Thank you!

Nov 10, 2021 08:50 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I am astonished at how many price reductions your MLS has recorded. It is an excellent report Kat as always...

Nov 19, 2021 09:03 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Thank you Paul S. Henderson, REALTOR®, CRS - Have a great weekend!

Nov 20, 2021 04:42 AM