Sales Heat Up As Summer Approaches
The warm weather in May has continued through the first part of June with record-breaking hot weather (90s) for this time of year. The overall effect has been for June to feel much more like July with boaters and swimmers heading for the lake a month earlier than most years.
There were seven Flathead Lake real estate sales posted for May, including one waterfront land sale. There were two more significant sales over $1M in Polson and Lakeside. Total volume of waterfront sales through May are the highest ($17.1M) that we have seen since 2008 ($24.2M).
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.
May 2015 Sales:
Annual Sales Date:
Active Waterfront Listings
The number of Flathead Lake real estate waterfront listings has begun its seasonal climb with another 14% increase in active listings since last month. On an annual basis, residential listings are still down from last June by 13% while land listings are up to 63 compared to 55 at the same time last year.
Median list prices for residential listings are holding just under $1M after posting a dip in March. With many sellers deciding to re-list higher priced properties in the spring, the median price this time of year is typically a bit unpredictable. Median prices for waterfront land have held relatively steady over the past 12 months at around $600k, and have bumped up to $635k for this month.