Kalispell Real Estate Market – January 2020

Kalispell Real Estate Market – January 2020

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

In January 2020, Kalispell Montana sales and median prices remained healthy. Following is an overview of the monthly results.

Sales Volume

In the month of January 2020, there were 52 residential sales which was 2% higher than the same month last year and 15 less than December of 2019. As you can tell from the chart below, sales in the area tend to start out lower at the beginning of the year, surge to a high in June or July and then hit lower levels in the later months. January 2020 is aligned with the same time last year, so nothing unexpected is happening!

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. And the area is gearing up for Spring, with quite a few new listings coming onto the market in the last few weeks. There are currently 124 homes under contract which reiterates that area homes are definitely still selling, even in January!

Inventory

In terms of inventory, there are currently 212 residential homes on the market, less than last month. This is to be expected at the beginning of the year as fewer home owners want to put their home on the market in the winter. Of the homes currently available, 11 are condominiums, 27 are townhouses, eight are manufactured homes and the rest are single family homes. In the last twelve months, 997 residential homes sold in Kalispell which means there are about two and a half months of inventory currently available. That data 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 January 2020 was $292,050 which was 10% higher than the same time last year. January was also about 5% lower than December 2019. The median price in each of the last three months was right around $300K, so I don’t think the lower January price point is a prediction of a lower price trend for 2020.

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 January was a three bedroom, one bath, 1150 square foot one-story home in town. The listing indicated the home needed some fixing up, and was being sold as is. That home sold for under $170K. The most expensive home sold for more than $1.1M.  That home came with Flathead River frontage, more than 70 acres of land, and mountain views.

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

Summary

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, 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. Enjoy your month!

For more information on Kalispell, Montana, feel free to read this overview!

Previous Kalispell MT market reports can be found here.