Following is an overview of the Kalispell Montana real estate results for the residential market as of February 2022. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market remains a strong sellers market.
Sales Volume
In the month of February 2022, there were only 50 residential sales in Kalispell which is 30% less than last year and 14% less than last month. There are currently 131 homes under contract, which is ~10% more than the same time last month. Sales do typically slow down in the winter months, so as the market seems to be behaving as usual.
Inventory
In terms of available homes on the market, inventory is the same as last month with 114 properties for sale (as indicated with the blue line in the chart below). As mentioned last month, 59 condominiums in a 55+ community were listed last month which increased the number of homes on the market. 56 of those condos are still on the market, so as with last month, the actual number of homes on the market (excluding that one community) are very low.
Of the homes currently available, 59 are condominiums, two are townhouses, two are manufactured homes and the rest are single family homes.
The number of homes under contract increased 10% in February which would suggest any new homes that popped on the market in February were scooped right up.
In the past twelve months, 1,156 residential homes sold in Kalispell which is an average of 96 per month. With 114 homes currently for sale, that means there is still only slightly more than one month of inventory currently available. Kalispell remains a seller's market. Four or five months of inventory would be needed for a balanced market. We are not close.
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
For most of 2021, median price points in Kalispell fluctuated between $400-500K. In January, the median price point returned to the level it was in most of 2021, which was $447K. And February's median price point is $475K, a slight increase. Overall prices remain in the same range.
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 February was a 600 square foot single family home with two bedrooms and one bath in town. It sold for less than $200K.
The most expensive home was a four bedroom, three bath ~3,600 square foot home and 30'x50' shop on the west side of Kalispell. This home sold for more than $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 a strong sellers market.
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 at 406-270-3667 or kat@thehousekat.com.
Previously published at thehousekat.com.
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