Flathead Lake real estate sales continued along at a steady pace as the first quarter of the year was rounded out, posting 7 closed transactions for the month of March. The first quarter of last year started out with 10 transactions for just over $8 Million in sales. We have closed 12 transactions for the first quarter of this year, for slightly less total volume at $6.5 Million.
With a banner year in waterfront sales for 2012, our inventory of waterfront properties is nearing record lows. It will be interesting to see if there are enough spring listings that come onto the market to keep prices where they are, or if the lack of supply will begin to apply upward pricing pressure.
The adjusted average price per foot ticked into an upward trend over last year for the first time. However, the first quarter of 2013 has been lower priced, value buys; pushing the average price per foot substantially lower for the year-to-date numbers. I do not believe prices are continuing to drop, just that fewer prime frontage pieces have sold in the first three months of this year.
March Sales:
Annual Sales Data:
