Sold Waterfront Listings
Our beautiful fall weather through the month of November has given way to a frigid beginning of December with temperatures in the single digits. Flathead Lake real estate sales have chilled out as well, with only two closed sales to report for the entire month of November – a home in Somers and a waterfront lot in Polson.
While sales have slowed somewhat, volume and prices are on track to be nearly identical to 2012 numbers, which were a significant increase from the trough of the downturn.
Last year’s numbers through November were 57 sales with a volume of $40.3M compared to 57 sales adding up to over $40.5M for this year. The adjusted average price per foot appears to be holding steady to increasing slightly.
Annual Sales Data:
Active Waterfront Listings
Flathead Lake real estate listings are identical to last month as with very little change in listings and sales for this time of year. However, the number of residential waterfront listings on the market is actually up 16% from the same time last year. Land listings are still down, with 17% fewer land listings than last year at this time.
Median prices for 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.