Page 41 - Flathead Beacon // 3.30.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
AS WE ENTER INTO
spring, let’s breakdown the
housing market to see what
is selling and what’s not selling. Months Inventory Sales This week I’ve broken it down by 0.35
price to sell, what price ranges are 31% selling and how fast. 0.30
The overall median price of sold
residential properties in Flathead
County over the last 12 months was 0.25
$242,500. This means that half the 21% sales are lower and half are higher
than that median price. 0.20
This week’s graph shows the
distribution of current listings and 0.15
the last 12 months of sales by price 12%
range. Of the 1,755 sales in the last
12 months, 31 percent sold in the 0.10
price range of between $100,000
and $200,000. At this time there 0.05 4% 4
are 1,184 residential listings and 2%
only 12 percent are priced in that
$100,000 to $200,000 range. With 0.00
540 sales in this price range and a $0-$100K $100K-$200K $200K-$300K current inventory of 139 listing,
this means that there is currently
around three months of inventory, making this price
range a seller’s market.
As we move up into the $1 million to $2 million range,
117 current listings, this tells us that there is currently around 38 months of inventory of homes in the $1 million to $2 million range. This segment of the market is very much a buyer’s market.
As you can see in the graph, the existing housing inventory goes from four months for home priced under $100,000, up to 52 months for home priced over $2 million. Currently, there are 56-plus homes priced at $2 million on the market, but there were only 13 sales in the last year.
On a broader scale, there is currently around ve months of inventory for homes priced under $400,000, making this price range a seller’s market. For homes priced over $400,000, there is currently 24 months of inventory, putting these higher priced homes in a buyer’s market.
RESIDENTIAL MARKET DISTRIBUTION
Current Listings
12%
5%
MONTHS OF INVENTORY
34%
52
60 50 40 30 20 10 0
15% 16%
$300K-$400K
22%
8%
10%
2%
5%
1%
we nd that this price range only accounts for 2 percent of the sales, but 10 percent of the current listings are in this price range. With only 27 sales in the last year and
The market is generally pretty smart and pricing is key to getting homes sold. This is especially true in the higher price ranges because there are a lot of sellers competing for a
relatively few number of buyers.
$400K-$500K
$500K-$1000K
$1000K-2000K
2000K Plus
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: $245,000
WHAT: Three-bedroom, two-bath home SQUARE FEET: 2,080
This cute log home sits on a treed 2.7- acre lot and has a two-car garage. This home has lots of charm.
RE/MAX Glacier Country
MLS#: 21600968
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $250,000 NEXT WEEK: $300,000
KALISPELL
KALISPELL
KILA
WHITEFISH
241 Commons Way
108 Sunset Ct.
4444 U.S. Highway 2 W.
528 Columbia Ave.
PRICE: $245,000
WHAT: Three-bedroom, two-bath town- house
SQUARE FEET: 1,610
This townhouse has an open oor plan, brick-and-metal siding and has three bedrooms, two baths, plus an o ce. Montana Properties
MLS#: 21601153
PRICE: $245,000
WHAT: Three-bedroom, two-bath home SQUARE FEET: 1,688
This move-in ready home has a two-car garage, granite counters, open oor plan, wood oors, underground sprin- kles and private fenced backyard. Bigfork Brokers
MLS#: 21601783
PRICE: $259,900
WHAT: Two-bedroom, one-bath home SQUARE FEET: 1,076
This charming bungalow is centrally located within walking distance to all White sh has to o er. It has an updated kitchen, beautiful landscaping and custom-built storage shed.
RE/MAX White sh
MLS#: 21600864
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 30, 2016 // FLATHEADBEACON.COM
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