Flathead Lake Real Estate - March 2024 Sales

Flathead Lake Real Estate

There were two reported waterfront sales for Flathead Lake real estate in March bringing the first quarter totals to just over $13M in sales with four transactions. These numbers are slightly off from last year's Q1 sales with seven transactions and $15.2M, but higher than 2022 when the first quarter yielded only $9.6M in sales from seven transactions.

While higher interest rates and inflationary pressures have imposed a cooling effect on the primary residential market, prices in the luxury waterfront segment continues to be buoyed by low inventory and sustained demand. We expect to see a continued influx of new inventory as the weather warms up and listing season gets into full swing.

March Sales

Pricing and Sales Summary:

Active Waterfront Listings

Residential inventory around the lake is beginning to increase both seasonally and year over year. The 32 active listings currently on Flathead Lake represent a 107% increase from the 15 listings at this time last year. Median list prices have responded with a drop from $5.95M in April of 2023 to $3.395M today.

Waterfront land listings have pulled back slightly from 17 listings last year to 11 this month with prices remaining flat at $1.3M.

Flathead Lake Condominium Market

With nearly two dozen waterfront condominium communities around Flathead Lake, there has historically been plenty of options for buyers who want the waterfront lifestyle without having to worry about maintaining a lake home. Below is a summary of currently active and sold units so far this year as compared to last year's sales. The condo market has followed the single-family waterfront market to record low inventories and increasing prices.