Page 46 - Flathead Beacon // 11.25.15

KELLEY’S MARKET TRENDS
FLATHEAD REAL ESTATE IN PERSPECTIVE
BY JIM KELLEY
THROUGH THE FIRST 10 MONTHS of 2015 there have been 1,436 res- idential sales with a median sales price of $235,000 and an average selling price $307,482. This represents an 11.8 percent increase in the number of sales, a 3.5 percent increase in the median sales price and 4.1 percent increase in the aver- age sales price.
Based on the rst 10 months of each year shown, this graph indicates that the number of sale is the highest it’s been since 2006. Both the median and the average price have gotten close to what they were for the rst 10 months of 2008, but are still below the high in 2007.
I would also like to note that the aver- age price can be distorted by a relatively few number of high-value sales. The median price is the best indicator of over- all market trends because 50 percent of the sales were above the median and 50 percent were below the median.
$400,000
$350,000 1479
$300,000 $250,000 $200,000 $150,000
$360,106
1568
1190
$310,130
$250,500
220,000
1436 1285
$307,482
$235,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 AVERAGE PRICE MEDIAN PRICE NUMBER SOLD
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.
Shop Polson for Christmas
All in Stitches
210 Main St. 883-3643
Crow’s Nest Gallery
214 Main St. 883-2488
Jackie M’s Footwear
212 Main St. 883-5800
Two Nineteen Main
219 Main St. 883-2129 twonineteenmain.com
Three Dog Down
48841 US Highway 93 883-3696 threedogdown.com
RESIDENTIAL SALES 2005-2015 JAN. 1-OCT. 31
1314
Photo courtesy of RambergArt.com
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