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KELLEY’S MARKET TRENDS
IFLATHEAD REAL ESTATE IN PERSPECTIVE
N THE FIRST HALF OF THIS YEAR, KALISPELL and the area within 3.5 miles of the city limits rep- resented 46.5 percent of the home sales within Flat-
head County. This is only slightly below the 47.2 percent that this same area represented in the rst half of 2015. The median home price in this area is $212,500 this year, compared to $203,500 for the same period in 2015. This represents a 4.3 percent increase, which is slightly lower that the 4.7 percent increase seen this year on a county-wide basis. This current median price is a new record high, surpassing the previous highs in 2006 of
$203,000 and 2015’s $203,500 median.
Within the City of Kalispell there have been 49 new
single-family home permits with a median construction cost of $189,900, plus another 20 townhouse building permits in the rst six months of 2016, with a median construction cost of $125,500. The cost reported in the building permit does not include the land value. In the same period of 2015 there were 25 new single-family home permits with a median cost of $199,900 and two townhouse permits that cost $120,000 each.
Although the number of reported sales through the Realtor’s MLS service are slightly down in the Kalis- pell, the total number of all residential sales is up due to the increase number of new homes that are being constructed.
Within this area of Kalispell and 3.5 miles outside the city limits, there is a current inventory of 338 homes on the market, with a median asking price of $332,000 and an average asking price of $486,333. The total
BY JIM KELLEY
Median Price
$203,000
$200,000
$227,404
Kalispell Area Residential Sales - First Half of 2016
Average Price Number of Sales
PRICE
$300,000
$250,000
$246,879 VOLUME 400
350 300
12,250 250 200
150 100 50
$2
$150,000 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0
number of sale in this area was 751 in the last year, so with 338 on the market, there is currently around 5.5 months of inventory that is on the market. It
should also be noted that only 14.5 percent of the active listings in this area are priced at or below the median sold price of $212,250.
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.
Dinner Fundraiser
Sunday, August 28, 2016
5:00 p.m. | $150 per person Two Bear Farm | White sh
Join us for an exclusive organic dinner with wine pairing and live auction with all proceeds bene tting Cancer Support Community Kalispell.
To purchase tickets, please call (406) 752-0130.
www.csckalispell.org
Farm
to Table
MULTI-OPEN HOUSE EXTRAVAGANZA THURSDAY JULY 21, 2016 (12-4)
McGregor Lake House
(100 Violet Bay Dr. Marion)
Cute 2bd, 2ba, home on 3 lots Total .761 acres
103 . of Lake Frontage.
MLS# 21607761 $400,000 Melinda Morton/Chris Fraser 406-260-0472 Keller Williams NW MT
McGregor Lake Log Cabin
(12973 HWY 2, Marion)
3bd, 1ba-1 Acre Parcel Less than 1⁄4 to lake access McGregor Lake Views MLS# 21604713 $180,000 Chelsea Sellers-ERA Lambro’s 406-407-6959
Contractors Special
(114 Frontier Circle, Marion)
3bd, 2ba – Ranch Style 2700 sq. . on 1.13 Acres Huge 3 car garage MLS# 21601451 $199,000 Jared Luening KW NW MT 406-253-3144
Little Bitterroot Lake House
(2 miles W from Marion Grill on HWY 2 W)
3Bd, 2Ba 3600sq. .
10 acres-Horse property
660’ Lake Frontage
MLS# 21605267 $495,000
Kat Dodd - KW NW MT 406-291-7632
VISIT ALL 4 OPEN HOUSES FOR A CHANCE TO WIN A $200 GIFT CARD!
PLUS A DRAWING FOR A GIFT AT EACH HOUSE!
FOOD AND BEVERAGES AT THE LAST STOP!
1st stop is approximately 35 minutes from Kalispell just past the McGregor Lake public boat launch on the left
38
JULY 20, 2016 // FLATHEADBEACON.COM
LAST STOP
3RD STOP
2ND STOP
1ST STOP