Kalispell Market Report: Residential Homes – April 2021
Following is an overview of the Kalispell Montana real estate results for the residential market as of April 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market continues to be a strong sellers market.
In the month of April 2021, there were 75 residential sales in Kalispell which is 6% less than last year and 35% less than last month. As can be seen by the chart below, sales dropped slightly in April of 2020 also, but that could have been due to the pandemic constraints not due to normal activity. So the 35% drop from last month was not expected. I believe this is due to the fact that there are fewer home options for buyers. Another data point – the number of homes under contract is 13% higher than the same time last month. This indicates that buyer demand remains high.
In terms of available homes on the market, inventory has remained relatively flat. At this time last month, there were 85 residential homes on the market, and now there are 90. That indicates new listings are very slowly coming on the market (note: if you are a seller thinking of putting your house on the market, call me! Now is a great time to sell).
Of the homes currently available, ten are condominiums, three are townhouses, nine are manufactured homes and the rest are single family homes.
In the past twelve months, 1,365 residential homes sold in Kalispell which is an average of 114 per month. With only 90 homes currently for sale, that means there is only three weeks of inventory currently available.
Kalispell continues to experience a strong sellers market and the inventory of available homes is very low. That remains good news for sellers, and presents some challenges for buyers. Buyers must be ready to make a strong offer as soon as they find a home they love!
Median Sales Prices
Median sales prices also remain strong in the Kalispell area. The median sales price for April 2021 was $445K which was 39% higher than last year, and 17% higher than last month. This is the fourth month in a row of increasing prices. The continued shortage of inventory is keeping home prices high.
The year to date median sales price through the end of April was $380K, while in 2020 it was $309K. This is another indicator of the impact of demand for homes being higher than the supply.
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 sold for under $200K. It was a ~1,500 square foot two bed, two bath manufactured home on a tenth of an acre on the southern part of town.
The most expensive home was a 5,000+ square foot home with more than 26 acres of land and a 2,400+square foot heated shop, barn with office and horse stalls and more. That sold for more than $2M.
Kalispell has just about any kind of property you can imagine. Brand new four bedroom homes, large luxury homes, manufactured homes, small off-the-grid cabins and everything in between!
The residential real estate market in Kalispell Montana continues to be very strong with limited inventory and increasing price points. 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 email@example.com.
For more information on Kalispell, Montana, feel free to read this overview.
Previous Kalispell MT market reports can be found here.