Kalispell Market Report: Residential Homes – April 2023

Kalispell Market Report: Residential Homes – April 2023

Following is an overview of the Kalispell Montana real estate results for the residential market as of April 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. In April, sales remained relatively flat, inventory and homes under contract increased and median prices decreased. The Kalispell market is still experiencing a seller’s market.

Sales Volume

In the month of April 2023, there were 59 residential sales in Kalispell which is 41% less than the same time last year and one  more than last month. The Spring market is lagging last year. With more inventory perhaps next month will pick back up.

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 currently on the market. That provides buyers with more choices.

Of the homes currently available, 21 are condominiums, 12 are townhouses, five are manufactured homes and the rest are single family homes.

In the past twelve months, 931 residential homes sold in Kalispell which is an average of 76 per month. With 198 homes currently for sale, that means there are 2.6 months of inventory currently available which is higher than last month. At this time, Kalispell remains a seller’s market.

Median Sales Prices

The April median price point decreased 3% over last month. It is also lower than the same time last year. We’ll have to keep watch to see whether the prices start to trend down or remain as is.

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 two bedroom, one bath home with 760 square feet of living space that needed TLC. It was listed at $220K. The most expensive property was a six bedroom, four bath home with 4,600 square feet, 12 acres, a chef kitchen and more. This home was listed at $3.2M.

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 slight changes this month but is still a seller’s market. 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.

Thanks for reading “Kalispell Market Report: Residential Homes – April 2023.”