Flathead Lake Real Estate Sales
August sales numbers were impressive in light of diminished inventory and increasing prices. Eight sales were posted in MLS with a total volume just under $22M. This compares to 26 sales totaling $26.9M in 2020 and 7 sales totaling $5.7M in 2019.
Year-to-date numbers support the trend as well with a total of $113.7M in total lakefront sales compared to $80.0M in 2020 and $33.5M in 2019 over the same period. Transaction counts have also increased over these same periods, with 34 transactions in 2019, and 65 in 2020; compared to 59 closed transactions so far in 2021.
Average sales prices and price per front foot have also increased steadily over the past 24 months. Average price per front foot so far this year has eclipsed $6,000 for the first time in over a decade. Average sales price overall has increased nearly 90% since 2019 to just under $2M.
The expectation for the balance of 2021 is that transaction count will decrease due to limited inventory, with continued price support from steady demand and sales of higher priced listings.
Pricing and Sales Summary:
23011 Montana Hwy 35
205 Feet of Flathead Lake Frontage
8,314 Total Sq Ft
List Price: $6,950,000
Distinctly situated on the shores of Flathead Lake, this 5,289 Sq. Ft. European villa inspired 3 bed, 4 bath home, is like no other in Montana. Set amongst a 1,300 vine vineyard and orchard on 5+ acres of extensively landscaped grounds, sweeping lawns extend to 205 Ft. of pebbled beach lake frontage with stone patio, fire pit and concrete dock. 4 other separate guest structures include a restored 1870’s log fishing cabin, an elegant apartment above the 4-plus detached garages, a bunkhouse in the picker’s shed and a 3 bedroom guest house nestled in the orchard. In all, 20 guests can be accommodated making this Bigfork legacy estate a retreat for gracious living and entertaining on the lake.
Reminiscent of homes in Tuscany and Provence, and designed for serenity and relaxation, the main house was meticulously crafted with exterior walls of classic European triple coated stucco and interior walls of hand applied plaster. Architectural detailing throughout, sets this truly remarkable home apart, with antique 10 ft. carved entry doors from Europe, 2 cast stone fireplaces, travertine flooring, a dramatic entry staircase and foyer, and abundant arched windows allowing for ample natural light and views of the lake. The open living plan interior features a custom gourmet chef’s kitchen and butler’s pantry complete with handcrafted alder cabinetry with granite and stainless steel countertops, as well as a grand main suite with balcony, and an attached tumbled marble bath with step down vaulted shower. A spacious lower level office with a private entrance makes it perfect to work from home.
Outdoor spaces expand the home into the beautiful surroundings with covered decks, rock walls, gardens and an extended stone laid terrace, extraordinary with a wisteria covered pergola, perfect for entertaining large groups in a perfect setting. Combined with the close proximity to some of Montana’s greatest outdoor recreational areas such as Glacier Park, the Swan Mountain Range and the Bob Marshall Wilderness, this property offers a truly unique luxury experience unparalleled in Montana.
Active Waterfront Listings
Residential waterfront listings for this month are down significantly compared to the inventory at this time last year (37 vs 79). The number of land listings has dropped to 15 from 21. Total listings on the lake historically peak in August and bottom out between January and March. The residential inventory on the lake has dropped to record low territory. The combination of record sales over the past 18 months along with lack of motivation for sellers to give up their Montana real estate continues to put downward pressure on inventory.
Median prices for residential listings spiked to over $3.0M, while land prices settled back down to $1.0M. With such limited inventory of both residential and land listings, median price trends have become erratic with higher priced listings coming on and off the market. The overall trend is that active listing prices have essentially doubled over the past 12 months.
Flathead Lake Condominium Market
With over a dozen waterfront condominium communities around Flathead Lake, there has historically been 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 first eight months of 2021.