Kalispell Market Report: Residential Homes – June 2021
Following is an overview of the Kalispell Montana real estate results for the residential market as of June 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market continues to be a strong sellers market. That being said, there are signs for the second month in a row that the market may be slowing down slightly.
Sales Volume
In the month of June 2021, there were 131 residential sales in Kalispell which is 7% more than last year and 25% more than last month. As can be seen by the chart below, sales in 2021 are following the same general trends as last year.
Another data point – the number of homes under contract have remained just about the same as last month. This indicates that while buyer demand remains strong, demand may be easing a bit as more inventory has been coming on the market. In other words, buyers may have more choices and fewer competitors in the future.
Inventory
In terms of available homes on the market, inventory has increased for the second month in a row. At this time last month, there were 113 residential homes on the market and now there are 135. That indicates new listings are indeed coming on the market (note: if you are a seller thinking of putting your house on the market, call me! Now remains a great time to sell).
Of the homes currently available, 25 are condominiums, three are townhouses, six are manufactured homes and the rest are single family homes.
In the past twelve months, 1,389 residential homes sold in Kalispell which is an average of 116 per month. With 135 homes currently for sale, that means there is about a 1.2 months of inventory currently available. That is the second increase in a row and while it’s just a small increase, it is a positive sign for buyers.
While Kalispell continues to experience a strong sellers market, the inventory of available homes is increasing. That remains good news for sellers, and presents hope for buyers that the market may be slowly improving for purchasers. Still, buyers must be ready to make a strong offer as soon as they find a home they love!
Median Sales Prices
Median sales prices also remain strong in the Kalispell area. The median sales price for June 2021 was $425,000 which was 37% higher than last year and 4% higher than last month. So far this year, median prices have continued to outperform 2020. Also of interest, of the currently active listings, 16% percent have seen price decreases, most within the last few weeks. This may point to some future adjustments in the recent price trends.
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 June sold for approximately $210K. It was a 814 square foot one bed, one bath condominium in the center of town. The most expensive home was a ~4,300 square foot home on Foy’s Lake. That sold for approximately $1.5M.
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 very strong with increasing inventory. Based on recent price reductions and the steady number of homes under contract, it is possible the market is settling down slightly. The next report should continue to be interesting.
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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