Kalispell Market Report: Residential Homes – September 2021
Following is an overview of the Kalispell Montana real estate results for the residential market as of September 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 sellers market. That being said, there are signs for the fifth month in a row that the market is slowing down slightly.
Sales Volume
In the month of September 2021, there were 99 residential sales in Kalispell which is just slightly more than last month and 43% less than last year. There are currently close to 194 homes under contract, which is also just slightly more than last month.
As of the end of September 2021, there have been 906 year-to-date sales in Kalispell, which is 3% less than the same time last year. This is another small sign that the market is slowly moving more towards a balanced market.
Inventory
In terms of available homes on the market, inventory is 15% lower than last month, which broke a four month cycle of increasing homes on the market. At this time last month, there were 182 residential homes on the market and now there are 154. Luckily, if you are a buyer there are still plenty of options. And if you are a seller, it is still a seller’s market.
Of the homes currently available, 11 are condominiums, one is a townhouses, 11 are manufactured homes and the rest are single family homes.
In the past twelve months, 1,248 residential homes sold in Kalispell which is an average of 104 per month. With 154 homes currently for sale, that means there are about 1.5 months of inventory currently available. That remains approximately the same as last month’s results.
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
Kalispell median sales prices were 14% lower in September than in August. The median sales price for September 2021 was $430,000 which was 23% higher than last year but as mentioned lower than last month. While median prices continue to outperform 2020, prices may be settling down. Another hint to the changing market is that 34% of all homes currently on the market have had price decreases. Next month’s results will let us know whether lower sales prices are the beginning of a trend, or just a monthly blip.
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 September sold for less than $180K. The property contained a 640 square foot 1 bedroom home and a 1,000 square foot mobile home; both needed TLC. The most expensive home was a nearly 9,000 square foot home on the river with mountain views, a detached barn with living space, arena, paddocks, shop and more. This home sold for under $3M.
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 strong. Based on recent price reductions and median price decreases, the market appears to be settling down. 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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