Page 35 - Flathead Beacon // 4.13.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
HOME SALES FOR THE FIRST quarter of 2016 have been very good with a 7.8 percent overall increase in the number of sales from the rst quarter of 2015. The year started out great with an 18.9 percent increase in January, then followed it up with a 17.6 percent increase in February. In March, the number of sales started to slow with an 8.5 percent decrease from March of 2015, decreasing the overall increase to 7.8 percent. If that overall pace of sales were to continue throughout the entire year, the number of sales would match the high of 1,804 from 2006.
Mortgage interest rates continue at near record lows with the average 15-year rate at around 3.2 percent and the aver- age 30-year rate at around 3.75 percent.
There were 291 residential sales in Flathead County in the rst quarter com- pared to 270 in the rst quarter of 2015. In the rst quarter, 52 percent of resi- dential sales were on small urban or sub- urban lots, 20 percent were on half-acre to three-acre lots and 17 percent were on
three to 20-acre tracts. There were also nine water front home sales, representing three percent of the market.
The median sales price for the rst quarter was $243,000, compared to $235,000 for the rst quarter of 2015.
The current overall inventory level continues to be about the same as it was a year ago, however, only 22 percent of the overall inventory is priced below the rst quarter’s median of $243,000.
In the rst quarter there were 23 bank-owned or distressed sales, com- pared to 38 in 2015. Non-distressed sales represent 92.1 percent of the mar- ket, compared to 86 percent for the same period in 2015.
Overall, 2016 continues at a near record pace for residential home sales, however March has shown that the mar- ket is starting to slow. At this time it is still too early to say whether March was just a bump in an improving market or if it is the start of a slowing trend. Only time will tell, so please stay tuned as we continue through 2016.
PRICE
$350,000 $300,000 $250,000 $200,000 $150,000
Median Price
$346,272
$307,223
$191,000
Residential Sales - First Quarter
Average Price Number of Sales VOLUME 400
350 300 250
$230,3 200 150 100
$292,833
$243,000
78
50 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0
$174,500
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: $345,000
WHAT: Four-bedroom, three-bath home SQUARE FEET: 2,405
This very nice home features tile and wood ooring, an open dining area, granite counters and much more. Enjoy great views from this home, which sits on 1 acre.
RE/MAX of White sh
MLS#: 21602431
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $350,000 NEXT WEEK: $400,000
KALISPELL
KILA
COLUMBIA FALLS
KALISPELL
148 W. Bowman Dr.
10 Eagle Mountain Way
89 Great Bear Ln.
508 Soaring Pines Tr.
PRICE: $339,000
WHAT: Three-bedroom, two-bath home SQUARE FEET: 2,344
This nice home in Stillwater Estates has an eat-in kitchen with breakfast bar, hickory cabinets, tiled ooring
and vaulted ceilings. It has a double garage and a fenced yard with sprinkler system.
Premiere RE Professionals
MLS#: 21602397
PRICE: $339,000
WHAT: Four-bedroom, two-bath home SQUARE FEET: 2,578
This home in a wonderful country setting has an open oor plan with large kitchen and dining room. It also has a large shop and excellent views.
Montana Brokers, Inc.
MLS#: 21601336
PRICE: $349,000
WHAT: Three-bedroom, two-bath home SQUARE FEET: 1,806
This quality home has an open oor plan, granite counters, stainless appli- ances, wood oors and tiled bathrooms. Enjoy end-of-the-road privacy.
Glacier Sotheby’s International Realty MLS#: 21602016
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.
APRIL 13, 2016 // FLATHEADBEACON.COM
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