This is the first in an ongoing series of blog posts summarizing Flathead Valley market histories and trends.
Keller Williams instructs its agents to "come from a place of contribution." Here are visible examples of my market research and analyses, which lay the foundation of my "place of contribution."
Whether you are considering buying or selling property near this locale, I hope my custom charts and discussion offer valuable market insights. If you also come away with an appreciation of the decision-making value such insights offer, this is only the tip of the iceberg; I offer an amazing range of broad-to-specific analyses pertinent to your property interests.
Following is a custom chart, depicting 4-bedroom 3-bath property sales (through the MLS) in Kalispell, Montana, in 2016:
The blue bars depict the number of units sold, in Kalispell during 2016, for properties with original list prices organized into $25k blocks (axis values along bottom). I narrowed the scope to include only those properties whose original list prices ranged from $225,000 up to $450,000. This chart depicts only properties with precisely 4 (no fractions above or below) bedrooms and 3 bathrooms.
The adjacent gold bars depict the average number of days (from original listing) to buy/sell contract, basically the time it takes to get the property under a purchase contract. The topping green bars are the average number of days (from contract date) until closing, and such accounts for the large contingencies of financing, inspection, appraisal, etc.
It's easy to spot the most common original list price range of $275,000 to $300,000. There is also a sizable block above $425,000.
One takeaway might be the roughly 45-day average green bar length of time to get from contract to close (CTC).
This next chart provides even more insight, focusing on original list prices and sold prices:
These MLS sales are arranged by their original list price, in ranges of $25k. Each $25k block of list prices is highlighted with a gray rectangle, increasing in values across the range (range low-to-high along bottom and also left side).
For each $25k range in original list price, the following has been depicted:
- Average original list price, for each block, is depicted with a gold horizontal bar
- Average sold price, for each block, is depicted with a green horizontal bar
- High and low sold prices, for each block, are depicted as the high and low mark of a black bar vertically for each gray range
What are the takeaways from this chart? Well, the properties originally listed between $225,000 and $250,000 had the tightest match between original list price and sold price. They also had the shortest range of high and low sold prices. Conversely, the highest range ($425,000 to $450,000) saw the longest drop between average original list price and average sold price -- with the broadest range of actual sold values, too.
Every property is different. Each time selling any individual property is also different from earlier attempts. Markets are constantly changing and shifting.
If you want real market insights, whether broad or narrow in focus, comprehensive or exclusive by filtering factors of interest and meaning to you, I should be your Realtor®.