Page 43 - Flathead Beacon // 9.28.16

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
CONDOMINIUMS AND TOWNHOUSES have accounted for 18.8 percent of the res- idential market in the rst eight months of 2016. This is up from 14.8 percent in the same period of 2011, and down from 21.7 percent in 2006.
The pattern of price increases and declines have generally followed the rest of the housing market, with a few exceptions. The median price in the overall market peaked in 2007, while the median price on condominiums and townhouses declined in the rst eight months of 2007 from $225,000 to $209,000, then peaked in 2008 at $230,000. In the rst eight months of this year it is up to $196,500, which is the highest it’s been since 2008.
The average price did follow the same pattern as the rest of the residential market, with an eight- month peak of $ 305,667 in 2007.
Through August of 2016 the median price increased by 2.3 percent from the same time in 2015. The average price is nearly the same as it was at this time in 2015.
There have been six condominium and town- house sales that were foreclosure or distressed sales of properties, which is the same number that is was at this time in 2015.
Condominiums and Townhouses (Eight Month Comparison)
PRICE
$350,000 $300,000
$250,000 $200,000 $150,000 $100,000
Median Price
$299,740
$225,00
Average Price
Number of Sales VOLUME 300
250
200
150
100
$196,500
$258,236
0
50 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 0
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: $239,650
WHAT: Three-bedroom, two-bath home SQUARE FEET: 1,716
This manufactured home sits on 4.61 treed acres. It has a well and septic, an attached garage and is a great horse property.
Montana Brokers, Inc.
MLS#: 21609489
FLOORSPACE
WHAT CAN YOU BUY FOR ABOUT $250,000 NEXT WEEK: $300,000
KILA
COLUMBIA FALLS
BIGFORK
KALISPELL
625 Dusty Trail
1910 View Dr.
957 Blue Lake Ln.
25 West View Dr.
PRICE: $249,000
WHAT: Two-bedroom, one-bath home SQUARE FEET: 1,656
This delightful cabin sits on 17 acres and features an open living area with a loft and large updated kitchen. It also has a detached garage and heated workshop.
Western Brokers, LLP
MLS#: 21610078
PRICE: $239,000
WHAT: Three-bedroom, two-bath home SQUARE FEET: 1,664
This home has great mountain views and is located within minutes of every- thing in Columbia Falls. It is situated on a good-sized lot, has a large kitchen and a split oor plan.
RE/MAX Mountain View
MLS#: 21609843
PRICE: $274,900
WHAT: Four-bedroom, three-bath home SQUARE FEET: 3,520
This spacious home is conveniently located in a peaceful neighborhood on a half-acre lot. It has an un nished base- ment and beautiful mature landscaping. Properties Northwest Real Estate, Inc. MLS#: 21608713
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.
SEPTEMBER 28, 2016 // FLATHEADBEACON.COM
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