Waterfront Sales’ Increase Over 2014 Continues
Sales for the strengthening Flathead Lake real estate market continued to persist through July with four closed transactions, all in the Polson area. The increased activity in the southern portion of the lake has had a limiting affect on the price per linear foot of frontage, as frontage in the northern end of the lake typically sells for a higher premium.
It appears the Flathead Lake real estate market has normalized in its seasonality. This ‘normalized’ annual cycle includes sales spikes in May-June, followed by a slow summer period. Another spike in sales is expected to occur in the Sept-Oct time frame.
The overall outlook for the remainder of 2015 is positive. Compared to the same period in 2014, transactions are up 50%, and total volume is up 48%.
July 2015 Sales:
Annual Sales Date:
Active Waterfront Listings
The number of Flathead Lake real estate waterfront listings has continued its seasonal climb, however the increase has been limited to land listings. Residential waterfront listings for August were roughly equivalent to the number of listings for August of 2014. Waterfront land listings increased 20% (55 to 66) from the same time last year.
Median list prices for residential listings are holding just under $1M after posting a dip in March. Land pricing bumped up in June, but have returned to their trending average near $600k. With a limited market size, a handful of high priced residential or land listings can impact median prices.