Kalispell Market Report: Residential Homes – March 2022

Kalispell Market Report: Residential Homes – March 2022

Following is an overview of the Kalispell Montana real estate results for the residential market as of March 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 March 2022, there were only 54 residential sales in Kalispell which is 54% less than last year and only 4 more than last month. There are currently 174 homes under contract, which is ~33% more than the same time last month. Demand remains high. More inventory would be helpful!

Inventory

In terms of available homes on the market, inventory is only slightly higher (5%) than last month with 120 properties for sale as indicated with the blue line in the chart below. As mentioned for the last few months, 59 condominiums in a 55+ community were listed in January which increased the number of homes on the market. 57 of those condos are still on the market, so as with last month, the actual number of homes on the market (excluding that one community) are very low.

Of the homes currently available, 60 are condominiums, five are townhouses, three are manufactured homes and the rest are single family homes.

The number of homes under contract increased 33% in March which would suggest any new homes that popped on the market in March were scooped right up. In the past twelve months, 1,105 residential homes sold in Kalispell which is an average of 92 per month. With 120 homes currently for sale, that means there is still 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. In January, the median price point returned to the level it was in most of 2021, which was $447K. And February’s median price point was $475K, a slight increase. I was expecting the March number to be in the same ballpark, but the March median sales price jumped to $512,750. Those hoping to see prices leveling off, or decreasing, will need to wait a bit longer.

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 March was a 960 square foot single family home with three bedrooms and one bath. It sold for less than $200K. The most expensive home was a four bedroom, three bath ~4,500 square foot home with 16 acres of land that abutted forest land. The property also included a private tennis court, barn and corral. This home sold for more than $1.75M.

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.

Thank you for reading “Kalispell Market Report: Residential Homes – March 2022”