Flathead Lake real estate sales took a turn to positive territory in 2012 as the December rounded out the year with continued strong sales. The transaction count of 61 sales for the year was the highest number of waterfront transactions reported in MLS since the 2004 year mark of 70. It is clear that buyers have returned to Flathead Lake, recognizing the value of the depressed prices as a result of the prolonged recession.
Both sales volume and transactions are up significantly from last year with an increase of 64% in volume and the number of transactions nearly doubled. I expect these trends to continue somewhat as long as there are values to be found on waterfront properties. With diminishing inventory, prices may inch higher as sales volume slows as reflected in the final quarter of the year.
The adjusted average price per foot ticked into an upward trend over last year for the first time, and mean and median prices ticked up slightly over last month’s report. As inventory continues to be depleted, I expect prices to continue their upward trend.
2012 Sales Data:
The data above represents all Flathead Lake Real Estate frontage land and residential listings and excludes condominiums and townhomes unless otherwise indicated. (Source: NMAR MLS)
