Kalispell Real Estate Market – April 2020

Kalispell Real Estate Market – April 2020

Following is an overview of the Kalispell Montana real estate results for the residential market as of April 2020. This report covers the entire residential market, which includes single family homes, townhouses, condominiums and manufactured homes. 

In April 2020, Kalispell Montana sales and median prices remained healthy. Following is an overview.

Sales Volume

In the month of April 2020, there were 80 residential sales in Kalispell which was 23% higher than April of 2019, and 13% less than March 2020. Interestingly enough, the March 2020 results had been much higher than the previous year and as such, the fact that April has decreased from March is not an harbinger of a lower trend rate. Eighty sales in the month of April is a very strong result.

As mentioned in the last few months, the Spring market is well underway, even with a nation dealing with the pandemic. Homes still sold, as homeowners, buyers, and real estate businesses utilized safety precautions. There were 145 homes under contract at the beginning of April and there are 137 under contract now. So with 80 deals closing during the last month, 65 additional homes went under contract during the same timeframe.

Inventory

In terms of inventory, there are currently 224 residential homes on the market, which is 13% lower than last month. Of the homes currently available, five are condominiums, 18 are townhouses, five are manufactured homes and the rest are single family homes. In the past twelve months, 1,042 residential homes sold in Kalispell which means there are approximately two and a half months of inventory currently available. That indicates the Kalispell area is still experiencing a sellers market.

Median Sales Prices

The median sales price for April 2020 was $320,000 which was slightly higher than the same time last year and 23% higher than the previous month. April median prices were the second highest in the last year. Of the four different residential types included in this report, single family homes typically have the highest median price point. In April of 2019, 75% of the sales were single family homes, while in April of 2020, 80% were. The second highest price point is usually the townhouse segment. In April of 2019, townhouses made up 12% of al sale while in 2020 they were 14%. That could be part of the explanation for the high year over year price difference. It can also be due to the relatively low inventory levels (two and a half months of inventory), and high demand for homes.

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 April was a three bedroom, two bath, 1,040 square foot manufactured home with fenced yard and storage shed. That sold for under $200K. The most expensive home sold for close to $700K.  That multi-level 4,700 square foot home came with five bedrooms, four baths, nearly 5 acres of land, mountain and valley views, and other amenities.

As can be seen, Kalispell has just about any kind of property you could imagine. Brand new four bedroom homes, large luxury homes, manufactured homes, small off-the-grid cabins and everything in between!

Summary

The residential real estate market in Kalispell Montana experienced a healthy April 2020. 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, check out this online home evaluator. And if you need help selling your home or finding that perfect new home to purchase, 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.