Kalispell Market Report: Residential Homes – November 2021
Following is an overview of the Kalispell Montana real estate results for the residential market as of November 2021. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
Sales Volume
In the month of November 2021, there were 113 residential sales in Kalispell which is 6% less than last year and 21% more than last month. There are currently 165 homes under contract, which is 20% fewer than last month. Looked at another way, the sum of homes sold and homes pending (under contract) was 306 in October and 278 in November. That data point might suggest a slight softening of demand.
As of the end of November 2021, there have been 5% fewer year-to-date sales in Kalispell than there were at the same time last year. This is another small sign that the market may be slowly moving more towards a balanced market.
Inventory
In terms of available homes on the market, inventory is 16% lower than the previous month, which is the third month of decreasing homes on the market. At this time last month, there were 108 residential homes on the market and now there are 91. Luckily, if you are a buyer there are still options. And if you are a seller, it is still a seller’s market.
Of the homes currently available, eight are condominiums, two are townhouses, two are manufactured homes and the rest are single family homes.
In the past twelve months, 1,227 residential homes sold in Kalispell which is an average of 102 per month. With 91 homes currently for sale, that means there is slightly less than one month of inventory currently available. That is another indicator that it is remains a seller’s market. Four or five months of inventory would equate to a balanced market.
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 have fluctuated between $400-500K. November was on the higher end of the spectrum, with a median price point of $485K.
Another interesting fact is that 23% of all homes currently on the market have had price decreases. Which does point, even with the higher November price point, to slightly softer prices.
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 November was an 850 square foot manufactured home that was listed as “needing some love.” It sold for less than $170K. The most expensive home was a nine bedroom, nine bath 6,100+ square foot home on 42 acres. This home sold for under $2M.
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, but there continue to be some signs of the market slowly inching towards a more balanced one.
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.
Thank you for reading “Kalispell Market Report: Residential Homes – November 2021”