One of the cabins left for sale on Flathead Lake priced under $1M – See MLS 309619
There is reason for optimism in the market for sellers on Flathead Lake whose homes are valued under the 1 Million dollar mark. The following statistical analysis also might strike some motivation for buyers who have been on the fence to get a Flathead Lake home purchased because at the current rate of sales in this price range, there stands to be limited inventory in the next year. Here are the market statistics for homes under $1,000,000 on which I base my prediction:
19 homes sold so far in 2012
+18 homes currently pending sales
37 expected sold (by end of 3rd quarter)
So, if we extrapolate out to the end of the year, we can expect that about 45 to sell by year end. Taking a look then at the inventory left available for buyers, there would only be a count of 50 for sale. With a rate of sale of 45 per year, then the inventory shrinks quickly to only a year’s worth. Sure, inventory is in flux all the time, but looking at these stats gives me the courage to say that this waterfront price range could see some upward pressure on price as available homes decline… Its the old supply and demand that sellers have been waiting to see.
