Sold Waterfront Listings
While Flathead Lake may have avoided the great arctic vortex in January, we cannot escape the real winter weather affecting nearly the entire country in the beginning of February. More of the lake is frozen over this week than we have seen in several years with temperatures dipping to around -15°F. The last time the lake completely froze over was the winter of 1989-1990.
Flathead Lake real estate sales have also frozen over for the winter. There were no recorded sales of any waterfront property for the month of January.
With healthy sales of Flathead Lake waterfront properties for the past two years in a row, the real question for this spring is how much new inventory will come on the market. As prices have slowly begun to rebound, there is always the potential for shadow inventory that could oversupply the market in the short term.
Annual Flathead Lake Real Estate Sales Data:
Active Flathead Lake Real Estate Waterfront Listings
Flathead Lake real estate listings have begun an early increase this year. While the market is not necessarily being flooded yet, residential listings on the lake are up 23% from last year.
Median prices for Flathead Lake homes and land have held relatively steady over the past 12 months – $600-650k range for land listings, and the $900-$1.0M range for homes. I believe waterfront sellers are more realistic about the market value of their properties based on sufficient data provided by comparable sales.