Kalispell Real Estate Market – February 2020
Following is an overview of the Kalispell Montana real estate results for the residential market as of February 2020. This report covers the entire residential market, which includes single family homes, townhouses, condominiums and manufactured homes.
In February 2020, Kalispell Montana sales and median prices remained healthy. Following is an overview of the monthly results.
In the month of February 2020, there were 49 residential sales. These results are slightly lower than January and 14% lower than February of last year but this is no cause for concern. The average sales per month for the first quarter of the year have been in the low to mid 50s, so February is tracking in the normal range. As can be seen below in the inventory section, sales continue to move forward!
As mentioned in last month’s report, if you are considering selling in the winter, even the “slow” months have a significant amount of homes sold. The Spring market has already started. There were 124 homes under contract at the beginning of February and there are 155 under contract now. So with 49 deals closing in February, that means 80 homes went under contract in February. Homes are definitely selling, even in the winter months.
In terms of inventory, there are currently 209 residential homes on the market, which is fewer than last month. Of the homes currently available, 9 are condominiums, 26 are townhouses, eight are manufactured homes and the rest are single family homes. In the last twelve months, 995 residential homes sold in Kalispell which means there are two and a half months of inventory currently available. That indicates the Kalispell area is still experiencing a sellers market. Homes that are prepared and priced properly are selling!
Median Sales Prices
The median sales price for February 2020 was $295,000 which was slightly higher than both January 2020 and February 2019. The median price has remained right around $300K for the last four months.
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 February was a three bedroom, two bath, ~1600 square foot manufactured home with nearly a half acre of land near Stillwater River. This home sold in the $100-125K range. The most expensive home sold for less than $1M. That home had over 7,000 square feet, 5 bedrooms, 5 bathrooms and was situated on the Flathead River.
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!
The residential real estate market in Kalispell Montana remains healthy and strong. 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 firstname.lastname@example.org. Enjoy your month!
For more information on Kalispell, Montana, feel free to read this overview.
Previous Kalispell MT market reports can be found here.