Kalispell Real Estate Market – August 2020

Kalispell Real Estate Market – August 2020

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

August 2020 sales and median prices for Kalispell, Montana remain extremely robust. Following is an overview.

Sales Volume

In the month of August 2020, there were 144 residential sales in Kalispell which was 50% more than the same time last year, and basically the same level as July 2020. This summer has definitely been booming in terms of sales. In the June through August period of 2020, 412 homes were sold. During the same period last year, there were 309 homes sold, which reflects a 33% increase in volume!

In terms of homes under contract, there were 325 under contract during last month’s report and there are now 331. With 144 closings, that means 150 additional homes went under contract during the same timeframe.  Kalispell is still experiencing an extremely robust market! That being said, I do expect the numbers to go down as we move into the Autumn season.

Inventory

In terms of inventory, there are currently 168 residential homes on the market, which is lower than last month’s 179. Of the homes currently available, 13 are condominiums, 14 are townhouses, six are manufactured homes and the rest are single family homes.

In the past twelve months, 1,151 residential homes sold in Kalispell which means there are less than two months of inventory currently available. Without a doubt, Kalispell is experiencing a sellers market and the inventory of available homes is very low. That’s good news for sellers!

Median Sales Prices

The median sales price for August 2020 was $365,500 which was 24% higher than the same time last year and 12% more than the previous month. So not only are the numbers of sales increasing, so are the price points (which makes sense with the decreasing inventory levels).

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 August was a two bedroom, one bath, ~850 square foot ranch home with garage that was being sold “as is.” This sold for less than $120K. The most expensive home was a five bedroom, seven bath home built on 40 acres of land with mountain views, ~10,300 square feet of living space, a guest suite, guest house, tennis courts and more. This home sold for slightly less than $3M.

Kalispell has just about any kind of property you can 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 remains extremely healthy. 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, 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.