Flathead Lake Real Estate Sales
June sales numbers were impressive in light of a diminished inventory and increasing prices. Eleven sales were posted in MLS with a total volume just under $21M.
Year-to-date numbers support the trend as well with a total of $64.4M in total lakefront sales compared to $33.4M in 2020 and $24.1M in 2019. Transaction counts have also increased over these same periods, with 24 transactions in the first 6 months of 2019 and 2020 each compared to 37 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.
June Sales:
Pricing and Sales Summary:
Significant Sale
Oz Lodge – Rollins
200 Feet of Flathead Lake Frontage
6,100 Total Sq Ft
List Price: $3,900,000
Flathead Lake living at its best with 200 feet of level beach frontage and a 6100 sf luxury lake house. Spacious rooms and modern appointments finish off the rustic elegant style. Multiple stone fireplaces and accents throughout. Over-sized, covered deck for entertaining or enjoying your private lake retreat. Watercraft included.
Active Waterfront Listings
Residential waterfront listings for this month are down significantly compared to the inventory at this time last year (37 vs 97). The number of land listings has dropped to 13 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 returned to an expected range of $2.5M, while land prices also returned to their normalized range of $1.5M. 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.
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 six months of 2021.
