Kalispell Market Report: Residential Homes - April 2022

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 April 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, but there are a few signs that changes might be coming.  

Sales Volume

In the month of April 2022, there were 100 residential sales in Kalispell which is 33% more than last year and 83% more than last month. That is quite a jump from the previous month. Because there are currently 162 homes under contract, which is 7% less than the same time last month, next month's results should be relatively flat or perhaps even decrease a bit. Kalispell Market Report: Residential Homes - April 2022 bar chart of sales  

Inventory

In terms of available homes on the market, inventory is 16% higher than last month with 139 properties for sale as indicated with the blue line in the chart below. As mentioned for the last few months, 59 condominiums in a 55+ community were listed in January which increased the number of homes on the market. 57 of those condos are still on the market, so as with last month even with the increase of 19, the actual number of homes on the market (excluding that one community) remain low.

Of the homes currently available, 58 are condominiums, five are townhouses, three are manufactured homes and the rest are single family homes.

In the past twelve months, 1,138 residential homes sold in Kalispell which is an average of 95 per month. With 139 homes currently for sale, that means there is only about one and a half months 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.

 

Kalispell Market Report: Residential Homes - April 2022 line chart of active listings and under contract

 

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 was $475K, a slight increase. I was expecting the March number to be in the same ballpark, but the March median sales price jumped to $512,750 and April was at $572K.

While prices did not decrease in April, 21% of all currently listed homes have seen recent price decreases ranging from 1% decrease to 22% decrease. Perhaps this is indicative of a slowing of price increases, but we'll know more next month.

Kalispell Market Report: Residential Homes - April 2022 bar chart of median 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 April was a ~1,200 square foot single family fixer-upper home with one bedroom and one bath. It sold for less than $150K. The most expensive home was a two bedroom, two bath ~2,200 square foot home with 477 acres of income producing land with a mile of Flathead River frontage. This home sold for more than $4.5M.

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. If you are wondering what you might be able to get for your Montana home, or need help selling your home or finding the perfect new land or 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 published at thehousekat.com.

 

Comments (13)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kat, great report on Kalispell's housing market, and think Denver is seeing the same slight shift.

May 04, 2022 08:42 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Kat Palmiotti  very interesting report, we need to see if this will continue in the Spring market 

May 04, 2022 08:49 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Joan Cox - it'll be interesting to see if it's just a blip or something more.

Yes, Hannah Williams , we will! Thank you for reading and commenting!

May 04, 2022 09:04 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Thank you for sharing yet another great residential market report from Kalispell Montana. I do enjoy my statistics Kat

May 04, 2022 10:24 AM
Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Very detailed report. With the weather breaking in Montana everyone is anxious to get out there and sellers still rule the market

May 04, 2022 11:29 AM
Rocky Dickerson
Realty One Group - Las Vegas, NV
Superior Service!

Steady climb in price, and boy did your activity ever shoot up last month

May 04, 2022 12:02 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Paul S. Henderson, REALTOR®, CRS - The data is the data! :-)

Ed Silva - One of the things about Montanans, they don't let the weather stop them! If there had been more inventory this winter, sales would have been brisk.

It sure did Rocky Dickerson !

May 04, 2022 03:52 PM
Kathy Streib
Cypress, TX
Retired Home Stager/Redesign

Hi Kat- what an interesting residential market report for Kalispell. I too am wondering if your figures will continue or as you said just a blip. 

May 04, 2022 05:42 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

Too bad I can't predict the future, Kathy Streib ! Then I could write these all at the beginning of the year. haha.

May 05, 2022 04:40 AM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Thank you very much, Kat, for sharing your excellent local real estate reports.

Have a productive spring and summer.

May 05, 2022 04:59 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

Seems the housing market in Kalispell is a strong one. Buyers and sellers will benefit from these stats Kat!

May 05, 2022 05:57 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Kat... great report on the Kalispell housing market... right now I'd be a very happy camper if my market had a month and a half of inventory! 

May 05, 2022 06:46 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

I wish the same to you Roy Kelley!

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

Nina Hollander, Broker - I'll bet! I've seen  your reports!

May 05, 2022 08:14 AM