What’s going on right now in the Flathead Valley real estate market? Keep reading to find out.
Today I’ve got a brief market update for you for the first quarter of 2019.
Overall, we’ve seen about a 5% decrease in home and land sales in our area. We had 1,736 so far this year after seeing 1,815 at this time last year. On the residential side, transactions were down by about 4% while the vacant land sales were down about 8%. This is right in line with the national average and a little bit of a slowdown from the breakneck speed we’ve been at.
Right now in Flathead Lake, we have 94 active listings and five pending sales. So far this year, we’re down slightly in the number of sales, likely due to a lot of the snow and cold this winter and buyers delaying their purchases because of it. All things considered, those are still some pretty strong numbers. Three of the pending sales here were under the $500,000 market, so that area of the market is still going strong. On the vacant land side, there are 33 active sales and three pending sales, all under $370,000.
Now let’s look at Swan Lake. Right now, there are 11 active listings, one pending sale from this winter, and there are still plenty of people out looking to buy right now. There aren’t huge numbers here, but there’s still good activity. On the vacant land side, there are eight active listings, no pending sales, and one closed sale so far this year. Swan Lake always tends to be quiet in the winter and early spring because of the limited inventory and the weather.
On Echo and Blaine Lake, we’ve seen a number of closings and pending sales so far this year. Abbott Lake and Peterson Lake are included in these numbers as well. On the residential side, there are nine active sales, with three on Blaine Lake and four on Echo Lake. There are also two pending sales in the area right now. So far, Abbott Lake has one closing this year.
On the vacant land side here, there are three active properties on Echo Lake right now.
Finally, let’s look at the lakes west of Kalispell (Ashley, Bitterroot, McGregor). We have 13 active residential listings here and no pending sales as of the moment. On Bitterroot Lake, we’ve had two sales so far this year. On the vacant land side, there are 14 active listings and no pending sales.
What about condos on Flathead Lake? There are currently 45 for sale, with one pending sale. Last year, we had six first-quarter sales and we’ve had five so far this year.
If you have any questions about any of these markets or any of these numbers, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.