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KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
OVER THE LAST YEAR, THE OVERALL MAR- keting time for homes that sold in Flathead County has averaged 155 days with a median marketing time of 95 days. Those marketing times vary substantially with the price range of the homes that sold. As the graph indicates, homes that sold for less than $200,000 had a median marketing time of 75 days and an average of 113 days. On the other end of the scale are homes that sold for more than $1 million, which had a median marketing time of 341 days and an average of 353 days.
In the last 12 months, there were 1,662 residential sales in Flathead County and there are currently 1,029 active residential listings, which tells us that there are currently 226 days of inventory on the market. Again, this varies with the price range. In the price range that is less than $200,000, there were 497 sales in the last 12 months and today there are only 88 listings, indicat- ing 65 days of inventory. In the price range of over $1 million, there were only 41 sales in the last year, how- ever, there are currently 162 active listings in this price range. At a rate of 41 sales per year, it will take nearly four years to absorb the current inventory of these high- value homes. This data indicates that properties must be priced competitively if you expect to get them sold.
Less than $200,000 $200,000 to $300,000 $300,000 to $400,000 $400,000 to $500,000 $500,000 to $600,000
$600,000 to $1,000,000 Over $1,000,0000
RESIDENTIAL MARKETING TIMES IN DAYS
Average Marketing Time Median Marketing Time
0 50 100 150 200 250 300 350 400
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.
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NOVEMBER 23, 2016 // FLATHEADBEACON.COM