Page 35 - Flathead Beacon // 3.23.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
CONDOMINIUMS AND TOWNHOUSES have been a stable portion of the Flat- head housing market for that last 25-30 years. In 2000 they accounted for 12 percent of the residential sales, 17 percent in 2005, 16 per- cent in 2010 and 15 percent in 2015.
The pattern of price increases and declines have generally followed the rest of the hous- ing market, with a few exceptions. The median price in the overall market peaked in 2007, while the median price on condominiums and townhouses had a slight decline in 2007, then peaked in 2008. The average price did follow the same pattern as the rest of the residential market, with its peak of $328,641 in 2007.
In 2015 the median price declined by 2.6 percent and the average price declined by 5.5 percent. In 2016 there have been 43 sales, rep- resenting nearly 19 percent of the homes sold.
Less that 3 percent of the condominium and townhouse sales have been foreclosure or dis- tressed sales, which is lower than the overall residential market which was closer to 8 per- cent in 2015.
Condominiums & Townhouses
PRICE
$350,000 $300,000 $250,000 $200,000
$150,000
Median Price
$280,203
$200,000
Average Price
Number of Sales
$212,995
VOLUME
400 350 300
$249,317 250 200
150 100
$328,624
$
240,000
$190,000 50 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 0
$154,500
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.
BY GEORGIA CHRISTIANSON
PRICE: $210,000
WHAT: Four-bedroom, two-bath home SQUARE FEET: 1,504
This e cient and comfortable home
is in excellent condition. It has a very friendly oor plan, air conditioning sys- tem and is in a convenient location. RE/MAX Glacier Country
MLS#: 21600734
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $200,000 NEXT WEEK: $250,000
COLUMBIA FALLS
WHITEFISH
KALISPELL
KALISPELL
136 Second Ave. W.
6213 Shiloh Ave.
185 Jackson Peak Dr.
2131 Merganser Dr.
PRICE: $184,500
WHAT: Five-bedroom, two-bath home SQUARE FEET: 2,315
Located on a corner lot, this unique home has original woodwork, including woods oors, and newer roof and other updates.
RE/MAX Mountain View
MLS#: 21600672
PRICE: $191,900
WHAT: Two-bedroom, two-bath condo SQUARE FEET: 1,210
This ground oor condo has a nice open oor plan and is just steps from the White sh River and trails. It has many nice upgrades and a spacious covered patio.
RE/MAX of White sh
MLS#: 21600653
PRICE: $214,900
WHAT: Three-bedroom, two-bath home SQUARE FEET: 1,300
This nicely kept home has a lovely kitchen with stainless appliances and a large breakfast bar. It has a fenced yard with underground sprinklers and upgrades include xtures and siding. Premiere RE Professionals
MLS#: 21601425
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.
MARCH 23, 2016 // FLATHEADBEACON.COM
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