Flathead Lake Real Estate Sales
October waterfront sales continued the year-to-date trend of decreasing transactions and inventory augmented by higher prices. Two significant sales in Bigfork added a total of $18M to what will likely be a record-setting year for total sales volume.
Year-to-date numbers show a total of $180.8M in total lakefront sales compared to $160.9M in 2020 and $52.7M in 2019 over the same period.
Average sales prices and price per front foot have also increased steadily over the past 24 months. Average price per front foot so far this year has eclipsed $6,000 for the first time in over a decade and is nearing $7,000. Average sales price overall has doubled since 2019 to just over $2.3M per transaction.
The expectation for the fourth quarter of the year is that transaction count will decrease due to limited inventory, with continued price support from steady demand and sales of higher priced listings.
October Sales:
Pricing and Sales Summary:
Significant Sale
20221 Montana Hwy 35
Bigfork, MT
706 Feet of Flathead Lake Frontage
9,046 Total Sq Ft
List Price: $15M
An opportunity to own one of the finest properties on Flathead Lake. Enter through the gate & wind down paved roadways through 13.77 treed acres to the 706 ft of gorgeous shoreline including a private marina encased by 165′ of u-shaped concrete dock, 3 covered boat docks, personal use 1,000 gallon gas tank and loading ramp. Wander across miles of carefully laid pathways, extensive stone stairs, retaining walls, patios, fire pit, hot tub, lawn and floral gardens on the way to the lake cabana, separate office/guest house, pavillion, gazebo, 2,660 sq ft shop + carport & 3 RV spaces then arriving at the masterpiece, the 6,884 sq ft main residence.
The 1935-built log lodge was restored/expanded In 2005 & more than doubled in size in 2015 to create separate but inclusive living spaces.The log structure has been carefully & meticulously upgraded with modern amenities while retaining the character & authenticity of the original construction performed by the same builder, Art Whitney, that built the Flathead Lake Lodge. In 2015, the current owners more than doubled the size of the residence creating an additional separate but inclusive environment incorporating all the modern conveniences you would expect of a structure of this magnitude. The infrastructure on the property includes tons of carefully designed & crafted rock landscape, retaining walls, walkways & patios. The property is served by 3 different water rights including a deep well producing over 100 gallons per minute. There are 7 strategically located fire hydrants served by a 20hp pump generating water from the lake which also provides water for the sprinkler system. The new septic system has additional capacity should additional buildings be required.
Active Waterfront Listings
Residential waterfront listings for this month are down compared to the inventory at this time last year (36 vs 41). The number of land listings has dropped to 9 from 12. 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. Total active listings in October 2019: 140; October 2020: 80; October 2021: 46.
Median prices for residential listings pulled back by 11% from last month to $3.3M, while land prices held steady at $2.0M. 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. The overall trend is that active listing prices have essentially doubled over the past 12 months.
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 ten months of 2021.
