DAVID FETVEIT

Real Estate Broker

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Flathead Lake Real Estate – April-May 2018 Sales

Flathead Lake Real Estate Sales
 
Waterfront Sales
The month of June historically bridges the gap between spring and summer on Flathead Lake.  The lake level is finally reaching full pool from the melting snow in Glacier National Park and the wilderness areas, and the 16 hours of sun each day are rapidly warming the area in preparation for summer fun.
Flathead Lake real estate sales have been warming up as well with several closings over the past two months.  There were three reported sales on Flathead Lake for the month of April, and five for May.
With 17 transactions totaling over $11.8M for the year so far, the market is just ahead of last year at the same time with $11.3M in sales.  There has been increased activity reported by all waterfront brokerages, and the market is expected to outperform last year.
Significant Sale:
 
Hughes Bay Home
$1.15 million
This beautiful western home boasts over 4,100 square feet on 161 one feet of Hughes Bay in Lakeside.  End of the road privacy and protected frontage define this classic Flathead Lake setting.  The home includes custom embossed leather finishes, log accents, and western art accents throughout.
 

 
 
April-May Sales:
 
Prices based on a per-waterfront-foot have continued to increase to over $4,000/ft for the entire lake after adjusting for improvements in the past few years.   With only 17 sales to date this year, the average has dipped below this $4,000 mark, but it is expected to recover to last year’s mark by the end of the year.
Annual Sales Data: 

Active Waterfront Listings
Residential waterfront listings for this month up slightly compared to the inventory at this time last year (117 listings vs 111).  The number of land listings has decreased from 43 to 37.  Total listings on the lake historically peak in August and bottom out between January and March.
Median list prices for residential listings rose dramatically over the winter months fueled by a record low inventory.  Prices peaked at $1.45M in February, dropping back below $1.3M in April due to new listings coming on the market.
Median waterfront land prices also rose during the colder months to the $800k range due to the lower inventory and have settled back to just over $600k.


Flathead Lake Condominium Market

 

 

With over a dozen waterfront condominium communities around Flathead Lake, there are plenty of options for buyers who want the waterfront lifestyle without having to worry about maintaining a lake home.  Below is a list of all of the current condo listings for the various communities around the lake, along with a report of total sold units and average prices since the first of the year.

 

The waterfront condo market was busy last year with 32 posted sales on the lake.  With 50 active condo listings, we have approximately 18 months of inventory currently on the market.  This is down from highs over the past few years where we saw as much as a three to four year inventory on the market.