Flathead Lake Real Estate Sales
September of 2020 may ultimately be the monthly high water mark for Flathead Lake sales in this decade. With a record setting 25 closed transactions yielding $37.5M in total sales volume, the month surpassed several annual sales marks posted since the recession low point in 2009.
The current year-to-date numbers of 90 transactions and $117M in volume has already eclipsed the 2006 annual sales record of 89 transactions and $88M in reported sales for that year.
Inventories continue to shrink, with a strong buyer presence in the market. Of the 66 active residential listings currently on the lake, 37 are in escrow.
September Sales:
Pricing and Sales Summary:
Significant Sale
32304 N Fiinley Point Rd – Polson
330 Feet of Flathead Lake Frontage
6.4 Acres; 9,410 sf
List Price: $5,995,000
Montana living in this lavish 5 bedroom, 7 bath home on Flathead Lake. Located in the coveted Skidoo Bay area of Finley Point. This recently remodeled home offers breathtaking views across 3 spacious levels of living.
Situated on 6.37 lush acres, the 9,000+ Sq. Ft. home features beautiful hardwood floors, elegant stone clad walls and pathways, and large windows for capturing the sweeping Flathead Lake views. This gorgeous home features 5 bedroom suites, a gourmet chef’s kitchen, 5 deluxe fireplaces, a spacious lower level family room with circular wet bar, a home media room, a custom temperature controlled wine cellar, and an indoor sauna.
The living space extends outdoors and features a private 2,000 Sq. Ft. boathouse with 2 electric ramps, a steel boat dock, a spacious patio with fire pit, a pickle ball court, and a cherry orchard. Immaculate landscaping can be seen throughout the property. Located just 90 minutes from Missoula, 70 minutes from Whitefish, and 80 minutes from Glacier National Park, this home is perfectly located for year round Montana recreation.
Active Waterfront Listings
Residential waterfront listings for this month are down significatnly compared to the inventory at this time last year (66 vs 104). The number of land listings has dropped to 14 from 36. Total listings on the lake historically peak in August and bottom out between January and March. The residential inventory on the lake continues to hover around record low territory. The combination of increased sales over the past 18 months along with the current crisis has led to low inventory.
Median list prices for residential listings had peaked during the winter months with high priced listings lingering on the market. With the rapid increase in sales over the past two months and no replacement inventory, median prices have spiked for both residential and land listings.
Flathead Lake Condominium Market
With over a dozen waterfront condominium communities around Flathead Lake, there are plenty of options for buyers who want the waterfront lifestyle without having to worry about maintaining a lake home. Below is a list of all of the current condo listings for the various communities around the lake, along with a report of total sold units and average prices for the year.
With 24 active condo listings, we have approximately six months of inventory currently on the market based on the 51 sales since the first of the year. This is a significant decrease from last year when we were carrying as much as 24 months of inventory.
Of the 24 active condo listings, only 6 are active as the other 18 are currently under contract. This puts the true inventory calculation closer to under one month.
