2025 Flathead Lake Waterfront Market Year in Review

By The Hollinger Team

Diana, Kellie, Dane, Drew and I have over 85 years of experience in Montana real estate, specializing in waterfront properties. Let’s see what we can find for you.

If you’re searching for a 2025 Flathead Lake waterfront market report, you’re not alone. I get questions all the time from waterfront owners and buyers across Northwest Montana who want to know what really happened last year, and what the numbers suggest for 2026.

This is my year-end compilation of the 2025 waterfront market, starting with Flathead Lake, then moving into condos, land, and the other area lakes. I’m going to keep it simple and stick to the data, because the data usually answers the biggest question people ask. What should I expect if I buy or sell on the water?

• Flathead Lake inventory is tight, but not gone.
• Right now, there are 22 active Flathead Lake waterfront properties. In 2025, there were 50 sales, which works out to roughly a six-month supply based on that pace. That is not a flooded market, but it is also not a situation where nothing is available. It is a market where the best-positioned homes still win.
• The market looks very different across price ranges.

Here is where it gets interesting, because the pace changes as the price changes.

Under $1M, there were five sold in 2025, and those were mostly smaller cabins with limited shoreline. They came on, and they went.

From $1M to $2M, there are four active compared to 24 sold last year. That is a very fast pace in that segment.

From $2M to $3M, there are five active and eight sold. That is still a healthy pace for what is left for sale.

From $3M to $4M, there are seven active and six sold. That is about a year of supply, which is normal for waterfront seasonality.

From $4M to $5M, there are three active and only one sold last year. That range is slower, and the supply stretches out.

From $5M to $6M, there are no active listings and 2 sold, which suggests the right properties can still move in the upper ranges.

At $6M+, four were sold and four remain for sale, which is a more balanced pace.

1. The typical Flathead Lake sale was still high-end, but negotiations mattered.
2. In 2025, the median sale price on Flathead Lake was $1.787M. The days on market were 99, which is fairly quick for waterfront. The standout is that homes sold for 88.4% of their original list price. That is a clear sign of softening compared to a market where sellers routinely get close to asking.
3. Flathead Lake condos stayed steady, with a limited supply.
4. The condo market on Flathead Lake has been fairly consistent, not just in the last two years but for a longer stretch. Inventory remains tight relative to sales, with about a 3-month supply and one pending at year-end. In simple terms, buyers in that segment are still competing for limited options.
5. Flathead Lake land sales were lower, but the story may be pricing.
6. For Flathead Lake land, there are six active and three sold in 2025, compared to six sold the year before. That can look like a drop, but it may also mean the remaining lots are higher-priced and will take longer to sell. We will see how that develops as 2026 moves along.
7. Other Northwest Montana lakes held a steady pace.
8. Across the other area lakes, there are 18 active properties right now. Two lakes have zero active listings, and only one lake had no sales in 2025. There are also three pending, which suggests some year-end activity from buyers who want something ready for the coming season. In total, 28 were sold in 2025, compared to 27 in 2024, which is a steady pace and a reflection of the limited inventory.
9. Pricing strategy showed up clearly in the numbers.
10. This is the part I think every seller should pay attention to. When we compared Flathead and Lake County waterfront home sales, there were 74 total sales.

Of those, 31 sales involved a price reduction, and the average sale price was 89.6% of the original list price.

The other 43 sales had no price reduction, and they sold for 92.1% of asking.

That gap is meaningful. It supports what I say all the time. If you start at the right price, you tend to do better than if you start high and plan to reduce later. Statistically, that approach can cost you roughly 2.5%.

What this means for buyers, sellers, and waterfront owners in 2026.

If you’re buying, the numbers show there is inventory, but the best opportunities still move, especially in the $1M to $3M range, where the pace stayed strong. If you’re selling, the market is still active, but buyers are negotiating more often, and pricing correctly matters more than ever.

If you own waterfront property and are thinking about a move this year, the smartest first step is to look at your specific lake, shoreline type, and price range, because market speed isn’t the same across the board.

The biggest takeaway is simple. The 2025 Flathead Lake waterfront market rewarded sellers who priced right from the start, and the 2026 market is likely to do the same.

If you’d like to talk through your waterfront property, pricing, or your 2026 timing, you can reach me at 406-837-5531, email ScottHollingerMT@gmail.com, or visit www.flatheadrealestate.com.