Flathead Lake Real Estate Sales
Flathead Lake is enjoying another glorious summer. A cooler, wet June broke into over 15 straight days of sunshine starting on the 4th of July.
Flathead Lake real estate sales have been warming up as well with nine reported sales for the month of June. As an interesting note, there were no sales in Bigfork or the east shore of the lake for the entire month, but every community from Polson to Somers on the west shore reported at least one sale.
With 26 transactions totaling over $17.5M for the year so far, the market is matching last year at the same time with $17.6M in sales with exactly 26 transactions as well. There has been increased activity reported by all waterfront brokerages, and the market is ultimately expected to outperform last year.
Shady Lane – Polson
This beautiful home boasts over 2,400 square feet on 150 feet of Indian Bay in Polson. End of the road privacy and protected frontage define this classic Flathead Lake setting. The home was constructed in 2001 with attention paid to the natural stone and hardwood finishes. The property is gently sloping lawn to the frontage and protected dock with boat lift. Northern exposure provides expansive views across nearly 20 miles of Flathead Lake.
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. This year’s average to date 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 compared to the inventory at this time last year (129 listings vs 119). The number of land listings has decreased from 45 to 38. 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.