Flathead Lake Real Estate Sales
Late spring storms in the Flathead brought an excess of moisture to the mountains and valleys. The Flathead River hit flood stage, and Flathead Lake measured seven inches over full pool. Several docks on the lake were submerged while the lake was above full pool stage for an entire week. Northwest Montana was fortunate to not endure the extreme flooding and damage the Southwest portion of the state experienced during the same period.
Carryover buyer demand from the run on listings over the past 24 months continues to hold down inventory and prop up prices. There were eight closed sales during the month of June. Adjusted price per front for 2022 held at just over $8,300/ft lake wide.
Rising interest rates and inflationary pressures have begun to impose a cooling affect in the market. Several high-priced listings have been withdrawn from the market and buyer demand has ebbed in most segments. Overall prices are still relatively high, but we do not expect to set any more high-water marks with respect to sales volume in 2022.
Pricing and Sales Summary:
June Significant Sale
20841 Osprey Loop, Rollins
186 Feet of Flathead Lake Frontage, 0.99 acres
6,727 Total Sq Ft 5Br/7Ba
List Price: $7.9M
Spectacular Modern Masterpiece located on what may be the most private, well protected cove on Flathead Lake. When the winds pick up, your boat will be safely tucked away on its own lift. This stunning 6,700+ sq ft, 5-bed 7-bath residence redefines indoor/outdoor lake living. Glowing with an abundance of light from floor-to-ceiling windows and custom bi-fold doors on every level. Spectacular views and fresh mountain air encompass the home. Massive power screens keep the bugs out at night if you choose to sleep with the deck doors open. Nearly 3 years in the making, this elegant home is fully decorated, furnished and move-in ready. Bring your suitcase and live the dream of a custom home built for very discerning owners who never occupied the property.
The great room features soaring ceilings that open up to the wrap around oversized decks allowing you to take in the big Ponderosa pines and the nature that surrounds you. Natural materials such as stone, metal, glass, and exotic woods help to bring the outdoors in. The great room comfortably seats a large gathering without losing the intimate feeling around the immense floor- to-ceiling fireplace. The chef’s kitchen is massive and a beautiful combination of elegance and commercial quality. With top level Miele appliances and a 6-foot-long, multi-purpose island sink, you’ll entertain with ease. The dining room is just steps away, accented with a stunning hand plastered lake mural.
Main-floor living is key with 2 guest en-suites. Each feels unique and inspired with breathtaking lake views, hotel style closets and deck access. Just upstairs, you’ll be transformed as you enter the exquisite master suite with its own set of bi-fold doors that open up to a private deck, a gorgeous stone tile fireplace, a drop down television, his and her toilets, large Italian marble wet room with a shower and tub, and a mini kitchenette equipped with Miele espresso machine, cup warmer, refrigerated drawers, dishwasher, sink, washer and dryer and more. Downstairs you’ll experience a custom home entertainment theatre with 4 built-in bunkbeds to make movie night even more magical. A custom “boat room” ensuite bed and bath. A second full kitchen equipped with all the necessities for the ultimate lake entertaining. The lower living area doubles as an arcade room and includes an added 400+ sq ft “lake toy” storage space.
Full sized washer and dryers on all 3 levels, oversized 3-car garage, and an expansive mudroom with lockers are just a few details that you’ll love. Note special touches including the faux hand painted vents and switch plates to match the granite, marble and wood through the house; custom waterfall and Star Trek inspired theatre door; built-in sauna; Toto intelligent bidet toilets throughout; reverse osmosis water filtration system; intuitive Control 4 automation system which allows you to control the Lutron lighting, Sonos music, security system, Hunter Douglas electric screens, blinds and shades and the electric door. Superior comfort was planned with forced air and heated flooring, each with individual heat and A/C zoning. This allows temperature control in every room.
Active Waterfront Listings
Residential and land waterfront inventory continues to hold at 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.
With several high-priced listings exiting the market, median residential prices held to under $3M while land prices edged back up to just under $2M. 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.
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 nearly two 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 this year to date. The condo market has followed the single-family waterfront market to record low inventories and increasing prices.