Waterfront Sales Up Over 2014
June in the Flathead was a scorcher. Several heat records were broken, then broken again. Weather that is typically expected in August persisted the entire month.
Sales for the strengthening Flathead Lake real estate market also persisted through June with seven closed transactions, three of which were land sales.
Six of the sales were in the Polson area, with one in Lakeside. 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 2015 is positive. Many of the ‘feeder markets’ for Flathead Lake real estate have been posting significant gains in their respective markets. These include primarily California, Arizona, Nevada, Texas, and Colorado. Secondary feeder markets include Florida and the Northeast. We are likely to average 150-200 waterfront listings around the lake during the warmer months, providing plenty of opportunities for buyers to find some great values on Flathead Lake.
June 2015 Sales:
Annual Sales Date:
Active Waterfront Listings
The number of Flathead Lake real estate waterfront listings has begun its seasonal climb, however the increase has been limited to land listings. Residential waterfront listings for July were roughly equivalent to the number of listings for July of 2014. Waterfront land listings increased 22% (54 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.