Flathead Lake Real Estate Sales
July sales numbers were impressive in light of diminished inventory and increasing prices. Fourteen sales were posted in MLS with a total volume just over $27M.
Year-to-date numbers support the trend as well with a total of $91.8M in total lakefront sales compared to $53.1M in 2020 and $27.8M in 2019 over the same period. Transaction counts have also increased over these same periods, with 27 transactions in 2019, 39 in 2020; compared to 51 closed transactions so far in 2021.
The expectation for the balance of 2021 is that transactions will level out due to limited inventory, with continued price support from steady demand.
July Sales:
Pricing and Sales Summary:
Significant Sale
1028 and 1034 Angel Point Road
270 Feet of Flathead Lake Frontage
6,009 Total Sq Ft
List Price: $5,400,000
Nestled in a private cove and with almost 270 feet of Flathead Lake frontage on 2 parcels, this beautiful estate has it all. Plenty of space for everyone with a total of 7 bedrooms and 10 bathrooms between the main house, guest house and cabana house.
Also includes 2 docks. Being sold fully furnished. This is a true one of a kind property located 15 minutes from downtown Lakeside and Blacktail Ski Resort.
Active Waterfront Listings
Residential waterfront listings for this month are down significantly compared to the inventory at this time last year (37 vs 95). The number of land listings has dropped to 11 from 24. 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 nearly $3.0M, while land prices also jumped to $2.0M. 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 seven months of 2021.
