Following is an overview of the Kalispell Montana real estate results for the residential market as of June 2023. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market remains a seller's market. That being said, in June sales decreased from the previous month and remain lower than last year. Inventory increased for the third month in a row and homes under contract also increased. The Kalispell market is still experiencing a seller's market but continues to move towards a more balanced market.
Sales Volume
In the month of June 2023, there were 73 residential sales in Kalispell which is 19% less than last month and 9% less than last year. Total year-to-date sales are 17% of the same time period in 2022. This year's home market is definitely softer (so far) than last year's.
Of the homes that sold in June, seven were condos with an average sale price of $422,900. Six were town homes ($ 447,000), two manufactured homes ($ 230,000) and the remainder were single family homes ($614,950).
Inventory
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 continued to do so through March of this year. However, April did see a 23% increase in listings with 198 homes on the market, May increased to 218 and June is now at 252. That provides buyers with more choices.
Of the homes currently available, 21 are condominiums, 12 are townhouses, seven are manufactured homes and the rest are single family homes.
In the past twelve months, 808 residential homes sold in Kalispell which is an average of 67 per month. With 252 homes currently for sale, that means there are 3.8 months of inventory currently available which is higher than last month. At this time, Kalispell remains a seller's market.
Median Sales Prices
The June median price point increased 10% over last month but it remains lower than the same time last year. The median price point has been fluctuating between $490K and $550K this year. We'll keep an eye on future months.
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 June was a three bedroom, two bath manufactured home with 1152 square feet of living space. The sale did not include any real estate and the home needed to be moved to another property. It was listed at $40K. The most expensive property was a four bedroom, four bath home with ~3,800 square feet, ten acres and a view of mountains. This home was listed at $1.9M.
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 saw some changes this month and while it is still a seller's market, it appears to be moving towards a more balanced market. We'll see what happens next month!
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.
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