Real estate sales up across Flathead Lake

Real estate sales of Flathead Lake properties have shown a general increase compared to last year’s numbers, according to the August Flathead Lake Real Estate News Waterfront Market Report.

To date, this year’s sales totals have reached $33.5 million, up from the $32.7 million total for all of 2018. There have also been 34 total sales so far this year, while there were 44 total sales for the entire year in 2018.

“Flathead Lake waterfront sales continue to post solid gains over previous years,” reported the Market Report.

“The driving factor for increased sales volume this year is directly related to a higher number of $1 million plus sales earlier in the year,” the document stated. At this point, there have been 12 sales over $1 million, whereas there were 14 such sales all year in 2018.

Total listings reportedly peak around August and tend to be lowest from January through March.

The Market Report also noted that the annual price-per-waterfront-foot average of approximately $4,000 per foot is also increasing “after adjusting for improvements in the past few years.” Sales on the northern end of the lake have been particularly strong this summer.

Despite these increases, a few sales areas are down this year. The total inventory of available condominiums is larger than last year, with more than a dozen waterfront condo facilities now present around the lake. However, the Market Report related, “condo sales overall have slowed this year.” Recently, there has been a higher inventory of single-family homes which has lowered the prices on these residences and made these options more competitive with condos.

There are also fewer residential waterfront listings on the lake as a whole.

The Market Report stated, “With interest rates staying low and a national economy that continues to grow, we expect we may see another record sales year for the Flathead Lake real estate market.”

Reporter Bret Anne Serbin may be reached at bserbin@dailyinterlake.com or 758-4459.