Flathead Lake Real Estate - November 2024 Sales
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Flathead Lake Real Estate
As we enter in to the first few days of December, it is safe to announce that winter has arrived in the Flathead Valley. The mountains have received a healthy base layer of snow along with portions of the valley floor. Our first thermal inversion event is currently shrouding all of Flathead Lake in freezing fog for days on end. Forecasters are calling for a snowy and cold winter, building anticipation for winter sports enthusiasts. There were four reported sales around the lake for the month of November, building on the increased sales volume earlier in the summer. Our year-to-date total has already surpassed each of the last two years with $114M in dollar volume. Important to note is the increased dollar volume coincides with a significant drop in transaction count. Year to date we have closed 34 transactions as the average transaction size has grown to over $3.3M. Inventory appears to have stabilized, slightly above last year at this time for residential listings, but down for land listings. We expect a modest seasonal decrease in transactions as we head into the winter months. November Sales: |
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Pricing and Sales Summary:
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Significant Sale
Bigfork Bay - Commercial Developer Lot 516ft of waterfront frontage List price $3.695M |
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This developer lot includes 516 feet of prime waterfront on the Swan River in sheltered Bigfork Bay, where the river enters Flathead Lake approximately 1/4 mile away. 7.09 acres in two parcels with prime development potential for multi-family dwellings, restaurant/bar, mixed use or other commercial options in B-3: Community business district. Site has 0.91 acre above engineered sea wall, 0.95 acre above approximate high water and 6.14 deeded, surveyed acres below high water for potential substantial expansion of the existing 10 slip marina in downtown Bigfork, MT. |
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Active Waterfront Listings
Residential inventory around the lake continues to increase year over year. The 35 residential active listings currently on Flathead Lake represent a 17% increase in listings over this time last year. Median list prices have flattened out around $3.25M. Waterfront land inventory has dropped from 12 to 7 listings for the same period last year. The decrease in inventory has resulted in an increased median list price of $2.0M. |
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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 stabilized after a few years of strong growth in both sales and prices. The current active listings represent approximately 12 months of inventory. |
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