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 LY | Q3 2020 | |
| Flathead Co. | $791,127 | 39% | $569,920 |
| Whitefish | $1,049,900 | 15% | $913,895 |
| Bigfork | $1,130,316 | 58% | $714,328 |
| Kalispell | $542,459 | 35% | $400,505 |
| Columbia Falls | $642,291 | 56% | $412,909 |
Median Sales Price
| Q3 2021 | % vs LY | Q3 2020 | |
| Flathead Co. | $550,000 | 37% | $402,500 |
| Whitefish | $719,000 | 23% | $584,000 |
| Bigfork | $670,000 | 58% | $502,275 |
| Kalispell | $450,000 | 31% | $343,000 |
| Columbia Falls | $549,400 | 46% | $376,000 |
Closed Sales
| Q3 2021 | % vs LY | % List Price | |
| Flathead Co. | 731 | -27% | 101% |
| Whitefish | 185 | -35% | 100% |
| Bigfork | 100 | -33% | 101% |
| Kalispell | 324 | -31% | 102% |
| Columbia Falls | 70 | -21% | 102% |
Average Days on Market
| Q3 2021 | Q3 2020 | |
| Flathead Co. | 26 | 63 |
| Whitefish | 29 | 90 |
| Bigfork | 35 | 82 |
| Kalispell | 23 | 43 |
| Columbia Falls | 19 | 48 |
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.
