September waterfront sales mark multi-year high
The first week of October has delivered a beautiful fall to the Flathead. After a few mild frosts the trees are lighting up like an autumnal kaleidoscope. With a background of brilliant blue skies and crystal clear waters of Flathead Lake, it is a beautiful place to be.
Flathead Lake real estate showed very strong sales in the month of September as predicted, and even exceeded all expectations. The month produced eight waterfront sales including seven residential sales and one land sale. Four of the eight were above the $1M mark.
The September sales volume of over $11M for the month marked the single highest dollar volume month since May of 2006.
A shift in the geographical distribution of waterfront sales was also worth noting. Six of the eight sales (75%) were in the northern end of the lake (Lakeside/Somers/Bigfork). Sales in the first eight months of this year showed a different trend as only 12 of 37 sales (32%) through August were in the northern region.
These strong sales are expected to help propel our annual numbers to a multi-year high in dollar volume. With a year-to-date total of $39.5M in closed sales, we have surpassed last year’s volume of $34.5M, and are only $1M short of matching the 12 months ending in December 2013.
September 2015 Sales:
Annual Sales Date:
Active Waterfront Listings
Residential waterfront listings for this month are roughly equivalent to the number of listings for at this time in 2014. The number of land listings is down three at 57, and there are also three fewer residential listings at 119.
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.