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KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
NEARLY 50 PERCENT OF HOME SALES are on small lots that are less than a half acre and do not have water frontage. These homes have gone through the same eco- nomic cycle that the overall housing market has, but the changes have not been quite as extreme as the overall market and they have been more resil- ient in their price recovery.
In 2005, when the overall median price increased by 18 percent, homes on small lots only increased by 14.6 percent. As the market declined from 2007 through 2011, the prices in the over- all housing market declined by nearly 34 percent; however, the median home price on small lots only declined by around 31 percent.
The housing market has been recovering since the beginning of 2012 and over the last four years the overall median home price has increased by around 22 percent. Over that same period, the median price of homes on small lots has increased more than 28 percent.
When we consider that nearly 50 percent of all residential sales are homes on small lots and the fact that they have seen the fastest price recov- ery, it is evident that homes on small lots are the strongest segment of the Flathead housing market.
DOLLAR VOLUME
$300,000
$250,000
$200,000
$150,000
$119,639 $102,000
HOME SALES ON SMALL LOTS HALF ACRE OR LESS
$265,692
00
# OF SALES
1200
1000
800
600
$202,000
400 200
$215,0
$22
2,970
$100000 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2011 2012 2013 2014 2015 0 MEDIAN PRICE AVERAGE PRICE NUMBER OF SALES
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.
BY GEORGIA CHRISTIANSON
PRICE: $199,000
WHAT: Two-bedroom, one-bath manu- factured home
SQUARE FEET: 896
This home sits on 4.28 acres and features partial lake views. The home is well maintained and is in move-in condition.
National Parks Realty of White sh MLS#: 338196
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $200,000 NEXT WEEK: $250,000
COLUMBIA FALLS
KALISPELL
SOMERS
WHITEFISH
1285 Wildcat Dr.
241 Third Ave. E.
85 White Bison Tr.
3840 Big Mountain Rd.
PRICE: $184,500
WHAT: Three-bedroom, three-bath townhouse
SQUARE FEET: 1,642
This townhouse has an open oor plan, laminate ooring and lots of windows. It has an attached garage and the master includes a Jacuzzi tub.
Flathead Land & Home, Inc.
MLS#: 337686
PRICE: $179,000
WHAT: Three-bedroom, three-bath home SQUARE FEET: 1,612
This cool east-side home sits on a corner lot. It has a one-bedroom apart- ment with kitchenette upstairs and an expanded living are on the main level. A little TLC will go a long way.
RE/MAX American Dream Properties, Inc. MLS#: 338226
PRICE: $179,900
WHAT: One-bedroom, one-bath condo SQUARE FEET: 974
This top oor condo in the Anapurna building at White sh Mountain Resort has a large deck with views of the slopes. It features a vaulted ceiling, gas replace and lots of windows.
Glacier Sotheby’s International Realty MLS#: 338503
If you would like your property listed in the Floor Space section,
please e-mail editor@ atheadbeacon.com. Entries are compiled by the Beacon sta and Georgia Christianson, Montana Brokers.
What would 30 years of successful real-estate experience do for you?
Call Georgia, a certi ed residential specialist for a free one-hour consultation.
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