Kalispell Market Report: Residential Homes – January 2021

Kalispell Market Report: Residential Homes – January 2021

Following is an overview of the Kalispell Montana real estate results for the residential market as of January 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 January 2021, there were 87 residential sales in Kalispell which is 67% higher than the same time last year. It is lower than December, but that is typically true of the January time period. Interestingly, the % decrease from December 2019 to January 2020 was exactly the same (-22%) as the decrease from December 2020 to January 2021!  Even with that decrease from the previous month, 87 sales in January was a very strong result.

Also of interest, there are currently 217 homes under contract, which is higher than the previous month. That indicates there is still a strong buyer demand, and next month’s results should remain high.

Inventory

In terms of available homes on the market, inventory continues to shrink. There are currently only 79 residential homes for sale, which is 22% lower than last month. Of the homes currently available, 11 are condominiums, four are townhouses, five are manufactured homes and the rest are single family homes.

In the past twelve months, 1,339 residential homes sold in Kalispell which is an average of 116 per month. With only 79 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!

Median Sales Prices

Median sales prices remain strong. The median sales price for January 2021 was $335,000 which was 4% higher than the previous month and 15% higher than the same time last year. The 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 January sold for under $150K. It was a two bedroom, one bath, 730 square foot condominium in the center of Kalispell.

The most expensive home was a ~5,900 square foot waterfront home with Swan mountain views, a beach, outdoor living areas with fireplace and more. That sold for more than $2.4M.

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 higher 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.