Kalispell Market Report: Residential Homes – February 2023

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 February 2023. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.



While the Kalispell residential market remains on the cusp of a balanced market, in February sales, homes under contract and median prices increased while inventory decreased slightly. Time will determine whether we are headed back to a stronger seller's market.

Sales Volume

In the month of February 2023, there were 46 residential sales in Kalispell which is 8% less than the same time last year and 35% more than last month. We won't know until next month, but the increase in sales could signal an early Spring season and/or could be caused by more confidence in the financial markets.

Kalispell Market Report: Residential Homes – February 2023 bar chart of real estate sales for year.


In terms of available homes on the market, inventory had seen significant upward movement early last year but available homes starting dropping in August 2022 and have continued to do so. In July '22, Kalispell had 320 listings and as of early March 2023, there are only 174, a decrease of 46%.

Of the homes currently available, 20 are condominiums, 14 are townhouses, two are manufactured homes and the rest are single family homes.

In the past twelve months, 861 residential homes sold in Kalispell which is an average of 72 per month. With 174 homes currently for sale, that means there are two and a half months of inventory currently available which is the same as last month. Kalispell does remain a seller's market but only four or five months of inventory would be needed for a balanced market. With two and a half months of inventory available, we remain close to a market where neither buyers nor sellers have the upper hand.

Kalispell Market Report: Residential Homes – February 2023 line graph of active and under contract



Median Sales Prices

With the exception of November, median prices were declining since July 2022. The median price for January was $493K, 10% higher than last year and 5% more than last month. February increased again to $530K, 8% higher than January and 11% more than February 2022. Lowering inventory does tend to result in higher prices.

Kalispell Market Report: Residential Homes – February 2023 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 February was a two bedroom, two bath mobile home with ~900 square feet of living space that needed to be moved to a new location (no property was included). It was listed at $30K.

The most expensive home was a five bedroom, four bath 4,100 square foot home with 10 acres of land, a three car garage, mountain views and more. This home was listed at $1.975M.

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!


The residential real estate market in Kalispell Montana saw sales, median prices, and homes under contract increase while inventory decreased slightly. We'll see what happens as we move through 2023!

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 posted at thehousekat.com.


Comments (11)

Ed Silva
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

An interesting report. The decrease in units available to sell could be just the market losing its available units and the remainder deciding that they just don't want to sell.

Mar 07, 2023 07:58 AM
Kat Palmiotti

Ed Silva 

I bet we're going to see more houses coming on the market soon - I'm also wondering whether some of the people who scooped up homes in the last few years and now lived through a few winters will want to sell....

Mar 07, 2023 08:02 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, again your market is resembling ours, it does feel and look like the market is heating up, but the inventory isn't coming on fast enough!

Mar 07, 2023 08:10 AM
Kat Palmiotti

Joan Cox - it's so interesting following these statistics!

Mar 07, 2023 10:15 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

I'm a little surprised Kat to read that inventory in Kalispell decreased some. Maybe it was just because of the cooler weather month. Will keep checking back to see if the numbers change.

Mar 07, 2023 08:44 AM
Kat Palmiotti

Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400  - Spring is in the air, so we'll see how that impacts the market!

Mar 07, 2023 10:16 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Hi Kat... that's a great increase in sales month-over-month. I'll be waiting for your report next month to see if the trend continues.

Mar 07, 2023 08:48 AM
Kat Palmiotti

Thank you Nina Hollander, Broker - I suspect it will!

Mar 07, 2023 10:16 AM
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Kat and thank you for sharing your market report with us here in the Rain.  Make it a great Tuesday!

Mar 07, 2023 09:05 AM
Kat Palmiotti

Thank you Will Hamm !

Mar 07, 2023 10:16 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kat, loved the detailed Market Report for Kalispell, with today's announcement from the Fed buyers and sellers will need your advice and knowledge more than ever, Endre

Mar 07, 2023 08:55 PM
Kat Palmiotti

Thank you Endre Barath, Jr. !

Mar 08, 2023 04:23 AM
Brian England
Arizona Focus Realty - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

You do such a great job with your videos and your market reports for Kalispell are always filled with the information that consumers need to know!

Mar 08, 2023 04:14 AM
Kat Palmiotti

Brian England - thank you so much!

Mar 08, 2023 04:23 AM
Roy Kelley
Retired - Gaithersburg, MD

Families on the move will appreciate your excellent local real estate market reports.

Mar 08, 2023 11:35 AM
Kat Palmiotti

Thank you!

Mar 08, 2023 04:18 PM
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Kat,

Great market report.  It is all about supply and demand.  When the inventory is down, the home prices are up.  We are in a perplexing market with high-interest rates.  Now more than ever, cash is king.

Mar 08, 2023 03:09 PM
Kat Palmiotti

Sheri Sperry - MCNE® - indeed it is - cash buyers don't have to worry about the interest rates when it comes to buying a home.

Mar 08, 2023 04:17 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Loved your video and your market report - as well as the message, Kat. I think you're going to be seeing this trend continue as we move into spring. Buyers are going to buy - they just needed to get over the interest rate sticker shock and digest the new 'norm' in the rates!

Happy Spring, my friend!

Mar 11, 2023 11:12 PM
Kat Palmiotti

Good morning Debe Maxwell, CRS - Happy Spring to you too (although we had 8" of snow yesterday!)

Mar 12, 2023 04:34 AM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Your market data resembles ours in many ways. Last year was out of the ordinary and we are all at a more balanced market.

Mar 12, 2023 10:52 AM
Kat Palmiotti

Things did settle down a bit here as well Dr. Paula McDonald!  Have a wonderful Sunday!

Mar 12, 2023 11:11 AM