Flathead Lake Real Estate Sales
Despite a cold snap earlier in November, the transition to winter has been relatively mild for the Flathead. The locals continue to pray for snow to properly kick off this year’s ski season!
The record-setting year for Flathead Lake real estate sales continued through the month of November with an additional 13 posted sales and just over $18M in volume for the month.
Year to date there have been a total of 133 sales on the lake, and there are currently only 21 active homes available on the market today.
It appears the volume of sold properties has begun to slow down, not only as the seasons change, but for the lack of available inventory.
November Sales:
Pricing and Sales Summary:
This year’s numbers have been driven by more transactions in the $1-3M range, accounting for 94% of the year-to-date transactions.
The current year-to-date numbers of 133 transactions and $177M in volume has radically blown by the 2006 annual sales record of 89 transactions and $88M in reported sales for that year.
Significant Sale
1035 Lakeside Blvd – Lakeside
435 Feet of Flathead Lake Frontage
3.6 Acres; 9,000 sf
List Price: $6,950,000
This turn-key, Glacier Park Lodge inspired estate graces us with its presence at 435′ of frontage on the West Shore of Flathead Lake. Thoughtfully designed and meticulously crafted, the quality and style is undeniable and it creates an unrivaled gated retreat on over 3.5 acres.
The home is 9,000 square feet and includes 6 bedrooms, 7 full baths, 2 half baths, detached garage and boat storage. Begin every morning and end every night with the sights and sounds of Flathead Lake and unparalleled views of the Swan Mountain Range and Glacier National Park. A grand entry, incredible living area with floor to ceiling windows and chef’s kitchen are just a sampling of the attentive and deliberate floor plan.
Active Waterfront Listings
Residential waterfront listings for this month are down significatnly compared to the inventory at this time last year (32 vs 89). The number of land listings has dropped to 10 from 34. 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 the current crisis has led to record low inventory.
Median list prices for residential listings had peaked during the winter months with high priced listings lingering on the market. With the rapid increase in sales over the past two months and no replacement inventory, median prices have spiked for both residential and land listings.
Of the 32 active listings, only 21 do not have accepted contracts as of the date of this publication. Eleven of the 21 are higher end listings over $3M, lending to higher median prices.
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 year.
All seven of the active condo listings have accepted offers in place. The effective inventory of condos is zero.
