Page 35 - Flathead Beacon // 8.24.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
THIS WEEK’S GRAPH SHOWS THE DISTRIBUTION OF CUR- rent listings and the last 12 months of sales by lot size. Of the 1,648 residential sales in the last 12 months, 41 percent were on lots that were smaller than a half acre. At this time there are 1,285 residentiallistingsandonly24percentareonsimilar-sizedlots. With 681 sales on small lots and a current inventory of 310 listings, this means that there is currently around ve months of inventory for non-waterfront homes on small lots. These homes on small lots had a median price of $219,750, which is 1.4 percent higher than what it was in 2015 and 12.9 percent lower than the overall median of $252,000 for the rst seven months of this year.
Moving on to homes on ve to 10-acre tracts, we nd that they account for 6 percent of the sales and 8 percent of the current list- ings. With 100 sales in the last 12 months and 100 current listings, this tells us that there is currently 12 months inventory of homes on ve to 10-acre tracts. These homes had a median sales price in the last year of $341,625, which is 3 percent higher than what it was in 2015.
Residential Market Based on Lots Size 32 35 30
25 20 15 10
0.5 0.4 0.3 0.2 0.1 0.0
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: $333,500
WHAT: Four-bedroom, two-bath home SQUARE FEET: 3,492
This great home in the well-established Hill Crest Estates has a four-stall garage with nished bonus room above. It also has a nice deck overlooking a big yard with mature trees.
David J. Heine & Associates
MLS#: 21603997
Waterfront homes accounted for 4 percent of the sales in the 12 months, but make up 15 percent of the current listings, with 32 months of current inventory that is on the market. In the last 12 months, these homes had a median sales price of $610,000, compared to $575,000 in 2015
11%
9%
11% 11%
17% 18%
15%
41%
24%
8%
4%6%4%6% 4%
1%
3%
3%
Waterfront 5
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
The most active segment of the market is for homes on lots that are smaller than three acres, with no water frontage. These homes account for 80 percent of the sales, compared to 75 percent in 2015. These homes currently have seven months of inventory. These homes had a median sales price of $226,750 in the 12 months, compared to $220,000 in 2015.
Condo/TH
0-.5 Ac
.5-1.0 Ac
1-3 Ac Months Inventory
3-5 Ac Sales
5-10 Ac
10-20 Ac Listings
20-40 Ac
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $350,000 NEXT WEEK: $400,000
KALISPELL
BIGFORK
KALISPELL
KALISPELL
645 Fifth Ave. E.
945 Swan River Rd.
68 Pickwick Ct.
459 Third Ave. EN
PRICE: $336,000
WHAT: Five-bedroom, three-bath home SQUARE FEET: 3,550
This immaculate eastside rancher is perfect for entertaining or relaxing in the spacious living room in front of the gas replace. Updates include ooring, doors and eat-in kitchen bar.
Montana Brokers, Inc.
MLS#: 21606406
PRICE: $369,000
WHAT: Four-bedroom, three-bath home SQUARE FEET: 2,272
This classic log home sits on nearly 1 acre o picturesque Swan River Road. There are two master bedrooms and the front room is a bright open space with plenty of windows. It also has a lovely large rock replace.
David J. Heine & Associates, LLC
MLS#: 21604283
PRICE: $337,500
WHAT: Four-bedroom, two-bath home SQUARE FEET: 3,377
This vintage home sits on a hard-to- nd corner lot on a tree-lined avenue. Impeccably cared for, it has hardwood oors, stained glass windows and sepa- rate writer’s cottage or artist studio. Montana Brokers, Inc.
MLS#: 2160325
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.
AUGUST 24, 2016 // FLATHEADBEACON.COM
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MONTHS OF INVENTORY
% OF MARKET