NW Montana Lakes – 4th Qtr 2020 & Year in Review

2020 Waterfront Market Review:

2020 Year in Review
Overall the home sales (all kinds) in Flathead and Lake Counties increased from 2,483 last year to 3,361 … an increase of 26% in volume. There are now less than 400 homes for sale in all price ranges. Demand and inquiries are still high but very few and sometimes no homes to present to Buyers. Our team is actively seeking to speak with home and land owners who would be interested in capitalizing on this shortage.

The residential waterfront market we tracked through to year end as compared to 2019 was pretty phenomenal. On Flathead Lake 151 homes sold in 2020 as compared to 94 in 2019, a 38% increase. In the past, in a typical season, there would be 80-100 homes to choose from, now there are less than 20 Flathead Lake homes on the market. Vacant land sales were strong also with 31 sales recorded through the NW Montana MLS (double over 2019)and there are four pending. Only ten land offerings remain. The Flathead Lake waterfront Condo market was also striking with a record breaking 77 sold as compared to 35 in 2019. There are six pending and only two for sale which as you can guess is a new low for available inventory.

Echo Lake, Lake Blaine and Swan Lakes did not see the range of change like Flathead Lake simply due to the fact there are generally only a small amount of properties for sale at any one time no matter the year. 2020 was no exception. Echo Lake saw four home sales and one land sale compared to five home sales in 2019. Lake Blaine recorded two sales this year and three last year. Swan Lake had six home sales vs eight last year. Swan Lake land sales were up substantially with nine parcels sold this year vs. only two last year. There are only four homes on Echo Lake, two homes and 1 vacant land on Swan Lake and one vacant land parcel on Lake Blaine for sale. Swan River had quite a bit of activity with 26 sales (18 homes/8 land) as compared to 17 in 2019. There is a bit more opportunity for finding a place on Swan River as there are 4 homes and 5 parcels of vacant land for sale.

The lakes west of Kalispell were quite active in their own right but virtually the same as 2019. Again low inventory levels are inhibiting additional sales. Ashley Lake had five home sales and three land sales vs eight homes/one land for 2019. Bitterroot Lake had five homes sales this year up by one from 2019. Bitterroot Lake’s vacant land sales soared though with eight recorded sales this year vs only one in 2019. Four homes sold on McGregor Lake, same as in 2019, but had seven land sales over only two in 2019. Foys Lake had four homes sales and one land sale. At the time of this newsletter there were three homes on Bitterroot Lake for sale, one on Ashley Lake, none on McGregor and one home on Foys Lake for sale.

Certainly would characterize this past year as a “Seller’s Market” and we expect the same for 2021. Who do you know that wants to sell?
Below are the sales in the 4th Quarter. The LIST prices are noted only. If you would like to learn the sale price of any of these properties, please contact us. (Montana is a non-disclosure state so we are unable to post sales prices)

Hollinger Team Sales in red.