Kalispell Real Estate Market – September 2020

Kalispell Real Estate Market – September 2020

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

Is Holy Moly an appropriate and professional comment to make about a market report? Maybe not, but that’s what I’m going to say about the September 2020 sales for Kalispell, Montana. Holy Moly!  Following is an overview.

Sales Volume

In the month of September 2020, there were 173 residential sales in Kalispell which sets yet another record for the area. Specifically, 173 was 62% more than the same time last year, and 20% more than August 2020. This summer (and now early Fall) has definitely been booming in terms of sales. In the June through September period of 2020, 585 homes were sold. During the same period last year, there were 416 homes sold, which reflects a 41% increase in volume!

In terms of homes under contract, there were 331 under contract during last month’s report and there are now 281. While still a very healthy number of homes, the numbers did decrease over the last month. That might mean that closed sales will start to slow.

Inventory

In terms of inventory, there are currently 155 residential homes on the market, which is lower than last month’s 168. Of the homes currently available, 12 are condominiums, ten are townhouses, seven are manufactured homes and the rest are single family homes.

In the past twelve months, 1,198 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

Median sales prices are remaining strong as well. The median sales price for September 2020 was $348,800 which was 16% higher than the same time last year and 5% less than the previous month. The fact that the price went down slightly from last month should not cause anyone to think the market is slowing. Double the amount of townhouses sold in September than in August, meaning there were more lower priced homes in the math equation. Looking at the facts a different way, the year-to-date median price continued to increase from $324K as of August to $325K in September.

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 September was a two bedroom, one bath, ~850 square foot condo on the west side of the city that sold around $100K. The most expensive home was a three master-suite, five bath home on nearly 19 acres with 4,200 square feet of finished space. It included a sun room, five fireplaces, chef kitchen, 40’x78′ shop, and more. This home sold for right around $1.5M.

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.