Kalispell Market Report: Residential Homes – February 2021

Kalispell Market Report: Residential Homes – February 2021

Following is an overview of the Kalispell Montana real estate results for the residential market as of February 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes. 

The Kalispell residential market continues to be strong, both in terms of sales and price points.

Sales Volume

In the month of February 2021, there were 71 residential sales in Kalispell which is 39% higher than the same time last year. It is lower than January by 18%, but remains strong for this time of year.

Also of interest, there are currently 187 homes under contract, more than double the amount sold in February. This indicates there is still strong buyer demand. Next month’s results should remain high.

Inventory

In terms of available homes on the market, inventory continues to shrink. There are currently only 65 residential homes for sale, which is 18% lower than last month. Of the homes currently available, 11 are condominiums, two are townhouses, four are manufactured homes and the rest are single family homes.

In the past twelve months, 1,368 residential homes sold in Kalispell which is an average of 114 per month. With only 65 homes currently for sale, that means there is less than one month of inventory currently available. Without a doubt, Kalispell continues to experience a sellers market and the inventory of available homes is very low. That remains good news for sellers, and also 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 remain strong in the Kalispell area. The median sales price for February 2021 was $338,900 which was essential flat with January (an increase of 1%). February’s results were also 16% higher than the same time last year. The current shortage of inventory continues to keep home prices high.

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 sold for right around $150K. It was a two bedroom, one bath, 1,050 square foot single family home in the center of Kalispell. It was listed as “in need of a lot of TLC” and was sold as-is.

The most expensive home was a 2,700 square foot home with more than 13 acres of land and nearly 1000′ of water frontage. The home had mountain views, a fireplace, outdoor entertaining space and more. That sold for right around $1.2M.

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!

Summary

The residential real estate market in Kalispell Montana continues to be very strong with limited inventory and healthy 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 kat@thehousekat.com.

For more information on Kalispell, Montana, feel free to read this overview.

Previous Kalispell MT market reports can be found here.