Kalispell Real Estate Market – November 2019

Kalispell Real Estate Market – November 2019

Following is an overview of the Kalispell Montana real estate results for the residential market as of November 2019. This report covers the entire residential market, which includes single family homes, townhouses, condominiums and manufactured homes. In summary, sales and median prices were both higher than the same time last year. See below for more information.

During 2019, sales have remained healthy and median prices continue to be higher than 2018 – in every month so far this year.

Following is an overview of the November 2019 Kalispell results.

Sales Volume

In the month of November 2019, there were 87 residential sales which was 36% higher than the same month last year and only 8 less than October of 2019. As you can tell from the chart below, sales in the area do 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. This year appears to be no different!

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. There are currently more than 100 homes under contract which reiterates that area homes are definitely still selling, even in November!

Inventory

In terms of inventory, there are currently 270 residential homes on the market, slightly less than last month. Ten are condominiums, twenty-eight are townhouses, eleven are manufactured homes and the rest are single family homes. In the last twelve months, 987 residential homes sold in Kalispell which means there is slightly more than three months of inventory currently available. In my book, three months of inventory means the Kalispell area is currently experiencing a sellers market. Homes that are prepared and priced properly are selling!

Median Sales Prices

The median sales price for November 2019 was $302,500, which was 8% higher than the same time last year, and 8% lower than last month. Sales prices have been higher when comparing each month this year with the same month last year, a positive trend for sellers. The residential sales results are heavily weighted towards single family homes, which made up 87% of homes sold in November. Nine percent were townhouses, and the rest were condominiums and manufactured homes.

Type of homes being sold

To get an idea of the types of homes that are selling in Kalispell, the lowest priced home sold in November was a three-bedroom, one-bath, one-story fixer-upper. It sold for just over $100K. The most expensive home that sold in November had four bedrooms, three baths and nearly 8,000 square feet of living space. The home included more than 50 acres of land, a pond, views, a stone fireplace, gourmet kitchen and more. This property sold for close to $2M.

One of the interesting things about the area is the ability to find whatever you might be looking for. Kalispell has brand new four bedroom homes, off-the-grid cabins and everything in between!

Summary

The residential real estate market in Kalispell Montana is definitely healthy and strong. If you have any specific questions about Kalispell or any other part of the Flathead Valley, feel free to contact me. And if you need help selling 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.