News & Features

Kelley’s Market Trends: January Residential Sales

Median sales price this January was $281,572, which is 12.7 percent higher than the January 2017 median

There were 98 residential sales in Flathead County in January compared to 106 in January 2017. Of the January 2018 sales, 50 percent were on small urban or suburban lots, 24 percent were on half-acre to three-acre lots and 12 percent  were on three- to 20-acre tracts.   

The median sales price this January was $281,572, which is 12.7 percent higher than the January 2017 median.    

The current overall inventory is 16.3 percent  lower than it was a year ago at this time. With the median sales price of $281,572, only 19 percent of the overall inventory is priced below that January median sales price.

In January there was only one bank-owned or distressed sale, compared to six in January 2017. Non-distressed sales represented 99 percent of the market this January, compared to 94.2 percent for the same period in 2017.

The current 30-year mortgage rate is around 4.2 percent, which is about the same as it was at this time last year.   

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