Flathead Lake Real Estate Sales
Sales of waterfront properties on Flathead Lake continue to set records in both transactions and dollar volume. The increase in closings recorded with 15 sales in the month of July were nearly doubled with 26 sales reported in August totaling just under $27M in sales. Ten of the reported sales for the month.were over $1M.
The current pace of 65 transactions and $80M in volume year to date is on track to eclipse the 2006 high water mark of 89 transactions and $88M in reported sales for that year.
Inventories continue to shrink, with a strong buyer presence in the market. Of the 79 active residential listings currently on the lake, 41 are in escrow.
August Sales:
Pricing and Sales Summary:
Significant Sale
953 Angel Point Rd – Lakeside
250 Feet of Flathead Lake Frontage
2.66 Acres; 3,923 sf
List Price: $2,450,000
This easy living spacious home, is fully furnished and showcases 5 bedrooms, 5 bathrooms, a 3 car garage with a separate insulated shop for boats and toys. Located in the highly sought-after Angel Point area, this property boasts 2.6 acres with 2 deeded lots and 250 feet of stunning waterfront. Featuring classic architectural elements such as a river rock fireplace, an expansive great room overlooking the lake, skylights that make you feel like part of the forest canopy and a unique, multiple-level layout with four bedrooms and their own en-suite bathrooms. On the main level, the gourmet kitchen is fully equipped with everything you need to create gorgeous celebrations, and has an adjacent breakfast nook that looks over the meticulously landscaped grounds. The great room also features a formal living room area, dining room table that seats up to 8 and a sunroom that’s perfect for early morning reading or bird-watching.
The multiple decks and terraced walkway make venturing down to the private dock a truly enjoyable adventure. Along the way, you’ll find an 8-person hot tub and firepit perfect for hosting an outdoor get together, as well as multiple patios featuring comfortable outdoor furniture. The private dock can house a boat up to 25 feet, however, larger boats can be moored outside of the covered space. There are two public boat launches available within 10 minutes by car or boat.
Active Waterfront Listings
Residential waterfront listings for this month are down significatnly compared to the inventory at this time last year (79 vs 119). The number of land listings has dropped to 21 from 40. Total listings on the lake historically peak in August and bottom out between January and March. The residential inventory on the lake continues to hover around record low territory. The combination of increased sales over the past 18 months along with the current crisis has led to low inventory.
Median list prices for residential listings had peaked during the winter months with high priced listings lingering on the market. With the rapid increase in sales over the past two months and no replacement inventory, median prices have spiked for both residential and land listings.
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 for the year.
With 30 active condo listings, we have approximately six months of inventory currently on the market based on the 39 sales since the first of the year. This is a significant decrease from last year when we were carrying as much as 24 months of inventory.
Once single family prices began to rise with a decrease in inventory, the demand for condominiums began to increase. We expect to see this trend continue into the coming year as both residential and condo inventories are down significantly.
