Kalispell Real Estate Market – December 2020
Following is an overview of the Kalispell Montana real estate results for the residential market as of December 2020. This report covers the entire residential market, including single family homes, townhouses, condominiums and manufactured homes.
The Kalispell residential market had a very strong 2020 in terms of both sales and price points.
In the month of December 2020, there were 113 residential sales in Kalispell. That result is 69% higher than the same time last year and slightly lower than November. As can be seen by the chart below, sales typically slow down in the October period and stay relatively low for the next three or four months. And while sales in the final three months of 2020 were slower than the late spring and summer, they were still very strong overall. In fact, in 2020, 30% more homes sold than in 2019.
Also, there are currently 197 homes under contract, which is 11% fewer than last month. The important note is that many of those homes should be closing in January, so I do believe January 2021 will remain strong.
In terms of inventory, inventory continues to shrink. There are currently only 109 residential homes on the market, which is 12% lower than last month. Of the homes currently available, 12 are condominiums, seven are townhouses, eight are manufactured homes and the rest are single family homes.
In the past twelve months, 1,287 residential homes sold in Kalispell, an average of 107 per month. That means there is only one month of inventory currently available. Without a doubt, Kalispell continues to experience a sellers market and the inventory of available homes is very low. That remains good news for sellers!
Median Sales Prices
Median sales prices remained stronger than the previous year. The median sales price for December 2020 was $325,000 which was 5% higher than the same time last year but lower than the previous month. The percentage of condominiums, townhouses and manufactured homes that sold in December increased by 14%, and the percentage of single family homes decreased by the same amount. Since single family homes typically sell for higher amounts than the other types of homes, it is no wonder the median price point is lower from the previous month.
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 December sold for right around $160K. It was a three bedroom, two bath, ~1,200 square foot manufactured home on a quarter acre lot on the east side of Kalispelll.
The most expensive home was a 3,900 square foot home on 20 acres of land. The property provided panoramic views of the Swan Range, farm land and came with a private pond. That sold for close to $1.4M.
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!
The residential real estate market in Kalispell Montana experienced an extremely healthy 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, call me! I can be reached at 406-270-3667 or firstname.lastname@example.org.
For more information on Kalispell, Montana, feel free to read this overview.
Previous Kalispell MT market reports can be found here.