Housing market changes, realtors optimistic

The housing market in Bigfork isn't what it was in it's peak, but last year was a good year and 2012 is looking to be even better.

That's at least the case according to Trails West Real Estate broker Denise Lang.

“It was my best year ever,” she said of 2011.

 Last year she sold the largest number of houses and had the largest dollar amount of sales since moving to Bigfork in 2001.

While Lang might have had a stellar sales year, Jim Kelley's recently released report on the Flathead Valley's housing market weaves a different tale for Bigfork.

The report shows Bigfork's property sales were down 13.3 percent, from 83 in 2010 to 72 in 2011. The average house price came down 21.6 percent from $445,150 in 2010 to $349,046 in 2011.

Kelley came to Bigfork last week to address a small crowd of realtors about the report and the state of Bigfork's housing market.   

 Those who attended the meeting took issue with the part of Kelley's report that dealt with Bigfork because it only accounts for sales within a five mile radius of Electric Avenue.

It doesn't account for Swan River, Echo Lake, and Lake County sales. All of which make up a portion of Bigfork's real estate sales.

Trails West just released their sales numbers for 2011. Residential properties sold totaled 110 in 2010 and 93 in 2011. Average prices came down 19.5 percent. Their numbers mirror Kelley's report and show around a 15 percent decline in sales, but the totals from Trail West alone are more than Kelley's total Bigfork tally.

There are at least 12 other real estate agencies with realtors in Bigfork.

Kelley's report has been keeping track of statistics since 1983. In 1983, a five mile radius was how he categorized Bigfork. At the meeting, he told realtors that while he agrees it might not be an accurate definition now, the only way to compare apples to apples on his report is to keep Bigfork confined to the same parameters as 1983.

The housing discussion also centered around the outlook for 2012.

“Jim Kelley has been not very optimistic over the last couple of years,” Lang said “For the first time we heard him say that it was a good time to buy.”

Kelley and Lang listed many reasons, including that housing prices are on their way to bottoming out. The buyers and sellers who were waiting in the wings for the right time, are deciding now is the time.

“We have sellers who are very realistic about their pricing, and those who want to sell are pricing aggressively,” Lang said.

Aggressive, realistic pricing are coupled with record low interest rates hovering around four percent, and the federal reserve is talking about keeping those rates low until 2014.

According to Lang this combination makes for a good time to buy and sell.

“If they (houses) are realistically priced, then they can find a seller,” Land said.