Flathead Lake Real Estate Sales
January waterfront sales continued last year’s trend of decreasing transactions and inventory, augmented by higher prices.
All four of January’s closings were in the Polson market, further indication of the price and inventory squeeze at the north end of the lake. Of the 17 active residential listings currently on the market, six are under contract. The median price of the available 11 listings is $6.5M.
Buyer demand persists in all areas of the lake as market-priced listings continue to see multiple offers. The spring listing season is just around the corner and we will soon find out if rising interest rates and inflationary pressures will have any type of cooling effect on the market.
Pricing and Sales Summary:
January Significant Sale
28512 Deer Park Ln, Polson, MT
282 Feet of Flathead Lake Frontage
8,096 Total Sq Ft
List Price: $3.85M
Passing through the entry gate, you marvel at the spectacularly manicured grounds sloping gently to the waterfront. The tennis court is complimented by gorgeous hydrangeas, rose bushes & stately Ponderosa Pines positioned carefully between multiple guest cabins & the stylish main residence. The residence reflects the finest of the architectural design of the 70’s offering an exciting opportunity to create an exceptional lakefront experience for friends & family. 282 feet of level water front on 4.82 acres features a multiple covered dock system & a boat house, ideal for enjoying the gorgeous sunsets across the protected waters of Indian Bay. There is plenty of room for guests with a 2 level 4 bedroom, 2 bath guest house & 2 single level 2 bedroom guest cabins. Located 15 mins. from Polson.
The main home offers 2 bedrooms on the main floor and 2 in the walkout lower level along with a family room & shop/workout room & 4928 sq. ft.. Caretaker/guest home also at waters edge offers 2 bedrooms up/2 bedrooms down, 2 baths with approx. 1728 sq. ft. Each additional guest cabin is 2 bed/1 bath with 720 square feet. A detached garage sits outside the caretaker and guest cabin.
The boat house and dock are ‘priceless’ and offer plenty of space for your water toys. This is a legacy property with potential to make your own; or enjoy the ‘retro’ feel of the 30’s, 50’s & 70’s. Each home was built at various points in time with the cabins being built in the 1930’s but all have had updates through the years.
Active Waterfront Listings
Residential and land waterfront inventory continues to shrink to record low levels. The combination of record sales over the past 24 months along with lack of motivation for sellers to give up their Montana real estate continues to put downward pressure on inventory. Total active listings in:
February 2019: 118
February 2020: 100
February 2021: 29
Median prices for residential listings settled down from last month to $4M, while land prices eased down to $1.4M. 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.
Based on these data, it is possible that we have reached a plateau in prices and the sustainable bottom in inventory for the time being.
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 summary of active and sold units for 2021. The condo market has followed the single-family waterfront market to record low inventories and increasing prices.