Kalispell Market Report: Residential Homes – January 2022

Kalispell Market Report: Residential Homes – January 2022

Following is an overview of the Kalispell Montana real estate results for the residential market as of January 2022. 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 January 2022, there were only 58 residential sales in Kalispell which is 34% less than last year and 42% less than last month. There are currently 119 homes under contract, which exactly the same as this time last month. Sales do typically slow down in December and January, so as mentioned last month, the market seems to be behaving as usual. Interestingly enough, January of 2022 is very similar to January of 2020 (52 sales). Only time will tell whether we are starting to return to pre-pandemic levels.

Inventory

In terms of available homes on the market, inventory is almost double last month with 115 properties for sale (as indicated with the blue line in the chart below). Inventory is typically lower in the winter months, so it may be surprising that so many new listings are available. However, this isn’t a typical month. Specifically a 55+ community listed 59 to-be-built condominium units in January. If those were removed, Kalispell would currently be at 50% of December inventory levels.

Of the homes currently available, 62 are condominiums, five are townhouses, four are manufactured homes and the rest are single family homes.

The number of homes under contract decreased during the last few months in 2021, but now remains flat. In the past twelve months, 1186 residential homes sold in Kalispell which is an average of 99 per month. With 115 homes currently for sale, that means there is only slightly more than one month of inventory currently available. Kalispell remains a seller’s market. Four or five months of inventory would be needed for a balanced market. We are not close.

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 fluctuated between $400-500K and in December 2021 they jumped to $551K. However, in January, the median price point returned to the level it was in most of 2021, which was $447K. We won’t know whether this is a trend back towards more reasonable prices until several months have passed. Stay tuned!

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 was an 840 square foot single family home with three bedrooms and two baths in town. It sold for less than $270K. The most expensive home was a five bedroom, four bath ~4,400 square foot home in a development with amenities that included a pool, tennis courts, clubhouse and RV and boat storage. This home sold for more than $1M.

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 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.

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