NW Montana Area Lakes – 2nd Qtr 2020 Real Estate Market Review

Let’s start with Flathead Lake. This year’s sales of 18 homes is on par with last year’s also at 18. In fact year to date the sales numbers are actually identical as follows: Nine sales under $1 Million, 5 sales from $1 Million – $2 Million, and 4 sales over $2 Million. The highest sale this year so far was on the eastshore at $8,500,000. Currently there are 28 pending sales … yes, we did say 28 pending! (This time last year there were 8 pending so that is one heck of an increase!) Of those pending, 10 are over $1 Million. Vacant land also showed an increase…9 pieces have sold so far (up from 6 in 2019). There are 37 available (with 12 of these priced over $1 Million). There have been 23 Flathead Condos sold so far in 2020 (last year there were 11) with only 18 left for sale (last year there were 50 available). See the small table above for price breakdowns.

In addition to Flathead Lake, we also track 10 additional smaller area lakes in the Flathead Valley. In 2019 ytd there were 10 home sales; in 2020 so far only 7 have been reported. This decrease may well be likely due to less inventory than from less interest. The home sales were evenly distributed with 1 each reported on Ashley , Bitterroot, Echo, Blaine, Swan, Foys & Lake Mary Ronan. The highest sale so far this year (non Flathead Lk) was on Lake Blaine for $1,475,000.

Of the 26 waterfront sales we found on all these lakes so far this year, sales prices have averaged 94% of asking price. The average size of the residential sale was 3,550 sq ft and it took just shy of a full year to close. There are 32 pending sales currently (12 last year), with our team handling 4 of these.

We are happy to go over more specifics on lake places and condos on the water when you and your friends & family are looking to buy. If you are a property owner and have thought about selling, the market is generally considered to be at a decade high right now.

Flathead Valley Area Lake sales 2nd Qtr 2020