Q3 2025 Montana Waterfront Housing Market Update

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.

It’s not often that a real estate market doubles its pace in just a year, but that’s exactly what’s happening around Flathead Lake. Homes that once took months to move are now being snapped up quickly, and the competition for available listings has reached new levels. The numbers from the third quarter of 2025 reveal a market that’s not just active but thriving, even as inventory remains limited.

So, what’s behind this surge? Much of it comes down to a combination of high demand, limited supply, and consistent buyer confidence that’s keeping the Flathead region on everyone’s radar. The latest data from this quarter tells a clear story about where the market stands today, and where it could be heading next.

Flathead Lake homes continue to outperform expectations. Flathead Lake has seen 43 home sales so far this year, a significant increase from the 22 recorded by this time in 2024. Only 34 homes remain on the market, and just four are priced below $2 million. With such a small pool of listings, buyers are acting fast when properties match their needs. The average sale price now sits at about $2.46 million, with a median of $1.8 million. Higher-end homes, however, are still moving at a slower pace, taking up to several years to find the right buyer.

Condos and waterfront land show mixed momentum. The condo market around Flathead Lake remains steady but small. Only seven units are currently for sale, and 12 have been sold so far this year, compared to 10 at the same time last year. The limited availability has kept prices stable and competition mild. Waterfront land, on the other hand, has cooled. Just two vacant lots have sold in 2025, compared to four at this point in 2024, with no pending sales reported. The small selection means buyers are finding fewer opportunities to build or invest along the lakefront.

Surrounding lakes maintain steady activity. Sales activity across the valley’s smaller lakes, from Swan and Echo to Foys and McGregor, has held steady. Some, like Foys Lake, have even seen stronger movement with five sales this year compared to three last year. With only 21 listings spread across multiple lakes and nine pending deals, buyers who remain flexible on location still have chances to find good properties.

Flathead and Lake counties remain strong overall. Across the broader region, housing activity remains solid. There are 975 homes for sale and 1,149 sold so far this year, a slight increase from 2024. Condos and townhomes also saw an uptick, with 265 sales compared to 229 last year. The land market remains steady, with 411 sales across both counties. Despite a tight supply, demand remains strong, maintaining a healthy and balanced market.

The takeaway. Flathead Valley’s waterfront market remains one of Montana’s most resilient. Even with a limited supply, demand continues to fuel sales across every segment. Whether you’re considering buying, selling, or holding, now is the time to stay informed and make strategic moves before the winter season settles in.

No matter your plans, staying connected with local insights can make all the difference. Reach out to the Hollinger Team at 406-837-5531 or email ScottHollingerMT@gmail.com for guidance that helps you move forward with confidence in Montana’s ever-changing waterfront market.