Sold Waterfront Listings
Long summer days and cool nights have made 2014 a great summer in the Flathead. We have enjoyed warmer-than-average temperatures, and only intermittent smoke from the fires in Washington and Oregon. These are the seasons that keep the Chamber of Commerce in business.
Flathead Lake real estate sales have continued at a steady pace this summer with a handful of healthy sales reported in the month of July. We are continuing to see the trend of fewer, higher-priced sales. However, we are lagging well behind last years numbers, with sales volume down 34% year to date.
There are several theories circulating for the drop in Flathead Lake real estate sales for this year. It could be that the majority of pent-up demand for waterfront properties during the recession years has mostly run its course and we are now in a correction phase. Prices on the water have held steady relative to the past two years.
Annual Sales Date:
Active Waterfront Listings
The slowdown in Flathead Lake real estate sales have translated into an increase in listings for the first half of this year. A combination of optimistic sellers based on the past few years of sales, and a slow start to sales for 2014 have resulted in an increased inventory of waterfront listings.
Median prices for homes and land have held relatively steady over the past 12 months. The median price for waterfront land is around $600k. Median list prices for residential listings have slowly trended from the high $900s to the lower $900k range over the course of the year. It seems waterfront sellers are more realistic about the market value of their properties based on sufficient data provided by comparable sales.