Kalispell Market Report: Residential Homes – December 2021
Following is an overview of the Kalispell Montana real estate results for the residential market as of December 2021. 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.
Sales Volume
In the month of December 2021, there were 100 residential sales in Kalispell which is 11% less than last year and 12% less than last month. There are currently 119 homes under contract, which is 28% fewer than last month. Sales do typically slow down in December and January, so the market seems to be behaving as usual.
As of the end of the year, there were 5% fewer sales in Kalispell than there were in 2020. If you look at the chart below, during the last six months of the year, sales each month were lower than they were last year. If that trend continues, 2022 may start to return to pre-2020 levels.
Inventory
In terms of available homes on the market, inventory is back to January levels with only 78 listings. This is the fourth month of decreasing homes on the market. Luckily, if you are a buyer there are still options. And if you are a seller, it is still a seller’s market.
Of the homes currently available, 14 are condominiums, two are townhouses, three are manufactured homes and the rest are single family homes.
In the past twelve months, 1,218 residential homes sold in Kalispell which is an average of 102 per month. With only 78 homes currently for sale, that means there is less than one month of inventory currently available. That is another indicator that it is remains a seller’s market. Four or five months of inventory would equate to a balanced market.
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.
Median Sales Prices
For most of 2021, median price points in Kalispell have fluctuated between $400-500K. December resulted in the highest median price ever with a median price point of $551K. Interestingly 15% of sales in December were over $1M.
That being said, 16% of all homes currently on the market have had price decreases. So while prices are high, corrections do still need to be made when the home is priced incorrectly.
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 December was a ~1,000 square foot single family home with two bedrooms and one bath on .16 acre. It sold for less than $230K. The most expensive home was a four bedroom, three bath ~3,200 square foot home on 61 acres. This home sold for under $2.8M.
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 that perfect new 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.
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