Flathead Valley Real Estate Sales Hold Gains
Upward trends for sales and prices continue.
The first half of this year’s Flathead Valley real estate sales is in the books, and it appears that the gentle recovery in our local market will continue. The residential sector registered strong gains in nearly all categories for the second quarter of this year – most importantly the median price increased modestly by 5% compared to the same period last year.
Total Residential Sales from NMAR MLS
Quarterly Sales by Segment
The land and commercial segments also showed strong sales increases in volume, but land prices are still low due to the large inventory of developed lots in the market.
As you can see in the graph below, 2012 sales jumped significantly higher than the previous year. The first half of 2013 has returned even higher sales numbers.
If low interest rates and prices continue to drive demand in combination with a decrease in distressed property, I expect these positive trends to continue throughout 2013.