Through the first 10 months of 2015 there have been 1,436 residential sales with a median sales price of $235,000 and an average selling price $307,482. This represents an 11.8 percent increase in the number of sales, a 3.5 percent increase in the median sales price and 4.1 percent increase in the average sales price.
Based on the first 10 months of each year shown, this graph indicates that the number of sale is the highest it’s been since 2006. Both the median and the average price have gotten close to what they were for the first 10 months of 2008, but are still below the high in 2007.
I would also like to note that the average price can be distorted by a relatively few number of high-value sales. The median price is the best indicator of overall market trends because 50 percent of the sales were above the median and 50 percent were below the median.
In 1981, Jim started Kelley Appraisal in Kalispell and has since built an extensive data base of economic and real estate-related data on northwestern Montana. Over the last several years, he has published annual reports on the Flathead Real Estate Market and been a guest speaker on numerous occasions for various groups in the Flathead.