Page 35 - Flathead Beacon // 2.10.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
LAST YEAR WAS THE BEST YEAR FOR RESIDENTIAL sales since 2006, now 2016 is o to a near-record start with a 17.8 percent increase over January of 2015. This follows a 38.5 percent increase from January 2014 to January of 2015. It’s hard to say exactly why we had such a strong Jan- uary, but at least part is likely due to relatively strong employ- ment and continued low mortgage interest rates.
There were 106 residential sales in Flathead County in Jan- uary compared to 90 in January of 2015. Of the January 2016 sales, 51 percent were on small urban or suburban lots, 23 per- cent were on half acre to three-acre lots and 11 percent were on three to 20-acre tracts.
The median sales price this January was $230,750, which is 3.7 percent higher than the January 2015 median, but 4.8 percent lower than the overall median for 2015. This is to be expected because the majority of the higher valued lake and recreation homes will typically be sold in the middle part of the year.
The current overall inventory level is about the same as it was a year ago, however, only 21 percent of the overall inven- tory is priced below the January median of $230,750.
In January there were only nine bank-owned or distressed sales, compared to 12 in January of 2015. Non-distressed sales represented 91.4 percent of the market this January, compared to 86.7 percent for the same period in 2015.
Overall, we can conclude that 2016 has gotten o to a very good start for residential home sales.
PRICE
$350,000 $300,000
VOLUME
$335,628 120 RESIDENTIAL SALES IN JANUARY
100 80
$303,618
$283,964 $250,000$230,0000,75060
$200,000 $150,000
$207,500
JAN. ‘05
JAN. ‘06
JAN. ‘07
JAN. ‘08
JAN. ‘09
JAN. ‘10
JAN. ‘11
MEDIAN PRICE
JAN. ‘12
JAN. ‘13
AVERAGE PRICE
JAN. ‘14
JAN. ‘15
JAN. ‘16
40 20 0
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: $204,900
WHAT: Three-bedroom, two-bath home SQUARE FEET: 2,416
This home features gorgeous views, a newer deck, walkout basement, hot tub and RV pad.
RE/MAX Glacier Country
MLS#: 21600037
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $200,000 NEXT WEEK: $250,000
COLUMBIA FALLS
KALISPELL
LAKESIDE
WHITEFISH
848 Saint Andrews Dr.
703 First Ave. E.
107 Timberline Terrace
6213 Shiloh Ave.
$23
PRICE: $214,000
WHAT: Two-bedroom, two-bath condo SQUARE FEET: 1,099
Enjoy the wonderful surroundings of the Meadow Lake community in this condo. It features a cozy replace, kitchen with range and new stackable washer and dryer.
ERA Lambros at Meadow Lake
MLS#: 21600373
PRICE: $200,000
WHAT: Three-bedroom, one-bath home SQUARE FEET: 2,057
This classic east side home sits on a corner lot and has wood oors, formal dining room, fenced backyard and enclosed porch. Features many recent improvements.
Big Sky Prop of MT, Inc.
MLS#: 21600160
PRICE: $189,000
WHAT: Two-bedroom, two-bath condo SQUARE FEET: 1,210
This condo is in like-new condition and features air conditioning, gas replace, large covered deck and nearby access to a walking path adjacent to the river. RE/MAX Glacier Country
MLS#: 21600090
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.
FEBRUARY 10, 2016 // FLATHEADBEACON.COM
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