Kelley’s Market Trends: Lakeside Area

Sales within five miles of Lakeside represents 5.1 percent of the total in 2015

By Jim Kelley

The total number of sales within five miles of Lakeside represents 5.1 percent of the total number of residential properties sold with a total of 86 sales in 2015. This is a 62.3 percent increase over the total number of residential sales in 2014. The median price in the Lakeside area declined by 7.1 percent to $274,000, however, the average price did increase by 4.4 percent. This is because most of the sales have been in the lower price ranges, but there were five in the $1 million plus range. With only 86 total sales, a small number of high-value sales can distort the average.

This January, there were 88 homes on the market in this area compared to 78 in January of 2015. With 88 listings, this represents 12.3 months of inventory compared to 7.6 months of inventory in Flathead County.   Last year at this time there was 17.7 months of inventory in this same area.

In the first 45 days of 2016, there were 10 sales, compared to eight in 2015 and three in the first 45 days of 2014.

Bank-owned and distress sales were about the same as 2014.

In 1981, Jim started Kelley Appraisal in Kalispell and has since built an extensive database 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.

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