What’s happening in the waterfront market? Here are the latest numbers.
Today I’d like to share a recap of all the different waterfront real estate markets in 2017. We’ll start with Flathead Lake and go down the line all the way to McGregor.
In Flathead Lake, we saw 46 sales in 2017. That’s down from the 52 we saw the year before, but it’s up from the 44 we saw in 2015. The median price in Flathead Lake is up to $689,000 right now and there are seven pending sales on the lake as well. Each of these pending sales is below the $900,000 mark.
There are 85 active listings right now in Flathead Lake. Of those 85, 31 are listed under $1 million and 54 are listed over $1 million. Properties here are currently spending an average of 449 days on the market.
As far as vacant land sales go, everything’s pretty flat in Flathead Lake (no pun intended). The median price for those plots is sitting at $480,000.
We actually see a big chunk of Flathead Lake sales in the condo market. They fill in those gaps in the lower price ranges. The average sale price of condos in Flathead Lake is $380,000. Sales are down quite a bit from last year, but there are still 38 active listings right now with a $462,000 median list price. The sold condos on Flathead Lake averaged about 243 days on the market.
Now let’s look at Swan Lake, Echo Lake, and Lake Blaine. In Swan Lake, there were eight home sales this year, up from the five we saw the year before. We also saw two vacant land sales in 2017. There is one pending sale there right now, too.
Echo Lake saw two sales this year, down from the three they had the year before. An interesting thing to note is that one of those two sales was for $1.8 million.
We’ve seen just one sale on Lake Blaine this year. There just isn’t that much out there. We won’t ever have very high numbers there. There are seven vacant land plots and 11 active listings here. There is one pending sale for $1.5 million.
Last but not least, let’s look at Ashley, Bitterroot, and McGregor.
Ashley saw a big jump in vacant land sales, Bitterroot saw a big jump in residential home sales, and McGregor stayed pretty flat with four total residential sales. There are 15 vacant land lots in these three areas total, with nine of them being in McGregor.
To learn all the details about these different markets, check out the video above. If you have any other questions for me, don’t hesitate to reach out. I’d be glad to elaborate on these numbers for you and answer any questions you may have.