Flathead Lake Real Estate Sales
Spring has certainly sprung on the valley floor and around Flathead Lake with the first flowers beginning to bloom and green shoots pushing through. There is still plenty of snow in the mountains and excellent conditions for spring skiing.
While spring may be the season for new beginnings, Flathead Lake real estate sales appear to be continuing the year-long trend. Impressive sales numbers are still being posted as demand for waterfront properties persists into the new year. March produced five waterfront sales averaging well over $1.3M.
The expectation for 2021 is that transactions will be fewer due to limited inventory, with continued price support from continuing demand.
March Sales:
Pricing and Sales Summary:
Significant Sale
320 & 321 Caroline Point Rd
177 Feet of Flathead Lake Frontage
List Price: $1,595,000
You will not find another property like this on Flathead Lake. 177 feet of combined frontage, 8 lighted boat slips with 10 additional tie ons, private paved boat ramp, 80 foot break wall, 2 separate apartments, large heated work shops, indoor parking, 7650 sq ft warehouse building and a 93 x 30 paddle wheel boat. The possibilites are endless for this property. Business opportunities, personal pleasure, 2nd home, storage facility. Use the paddle wheel as a one of a kind wedding venue or a floating restaurant.
Active Waterfront Listings
Residential waterfront listings for this month are down significatly compared to the inventory at this time last year (27 vs 75). The number of land listings has dropped to 7 from 26. 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 both residential (~$2.5M) and land (~$1.5M) have spiked due to lack of inventory, and remaining inventory at higher price points.
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 quarter of 2021.
