Q3 2021 Market Report

Another quarter has come and gone in beautiful Western Montana, and with it, strong selling numbers from the MLS. Let’s take a look at the Residential Real Estate numbers from July, August and September 2021.

The Biggest Takeaways

  • Home prices continue to surge across the region. Across the MLS, average home prices were up 30% versus the same quarter last year, with Bigfork (+58%), Columbia Falls (+56%) and Kalispell (+39%) all outperforming the average.
  • Whitefish saw average residential sales prices increase 15%, sizable for a large base, however, was down from the previous quarter (Q3: $1,050,000 / Q2: $1,111,754).
  • While average days on market decreased across Flathead County (from 40 in Q2 2021 to 26 in Q3), the month’s supply increased (from 1.3 in Q2 2021 to 2 in Q3). Whitefish saw similar patterns (ADOM went from 56 in Q2 2021 to 29 in Q3).
  • Across the Valley, prices held firm – average percentage of list price fetched was at or slightly above 100%.

Average Sales Price

Q3 2021% vs LYQ3 2020
Flathead Co.$791,12739%$569,920
Columbia Falls$642,29156%$412,909

Median Sales Price

Q3 2021% vs LYQ3 2020
Flathead Co.$550,00037%$402,500
Columbia Falls$549,40046%$376,000

Closed Sales

Q3 2021% vs LY% List Price
Flathead Co.731-27%101%
Columbia Falls70-21%102%

Average Days on Market

Q3 2021Q3 2020
Flathead Co.2663
Columbia Falls1948
This information is based on data supplied by Montana Regional MLS. Montana Regional MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Montana Regional MLS may not reflect all real estate activity in the market. 

What Does This Mean For Me?

As a homeowner in Montana, average equity gain over the past year has increased $73K. This puts Montana #8 on the list in the US, only behind California ($116K), Washington ($103K), Idaho ($97K), Utah ($81K), Arizona ($79K), Colorado ($77K) and Massachusetts ($74K).

Experts anticipate a price deceleration (not depreciation) over the next few years. This means that property values will continue to rise, but prices won’t increase at the rate they have been over the past year.

Curious what the equity and value in your home means to either purchase additional property or make a change? Contact us and let’s talk about what this all means and how it impacts your future goals.

Picture of Kyna Williams

Kyna Williams

Kyna Williams has spent her entire career telling stories for world-renowned brands like Nike and Underwood wine-in-a-can. Now, she joins Revel as CMO and COO. On any given day, you can find Kyna negotiating ad buys, brewing a pot of coffee or assisting agents with their listing presentations.
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