How are we already halfway through 2018? This year has been a whirlwind in Montana’s real estate markets, and we are so excited to present our most recent neighborhood market statistics for the Flathead Valley. These data, sourced from the MRMLS database, compare the first half of 2018 to the first half of 2017, providing a measure of how markets are progressing over time. Once again, as in the first quarter of 2018, the Bigfork market led with very strong growth. (Interested in Bigfork homes for sale? Give our local office a call!)
In Western Montana—the region between Hamilton and Eureka—land sales are most exciting story from the first six months of 2018. While residential sales increased by 4.47 percent, the median price of residential sales increased by 6.88 percent, and the total volume of residential sales increased by 10.4 percent—all great metrics—land outpaced residential growth in every category! Compared to the first half of 2017, the first half of 2018 saw Western Montana land sales jump up by 22.53 percent, and the median price increase by 10.7 percent. Total volume of land sales increased by 33 percent.
Bigfork reflected this trend, with a remarkable bump in total volume of land sales: 2017’s first six months reported $4.3 million, and 2018’s first six months reported $8.1 million. That’s an 88.5 percent increase! Residential sales also grew by this metric, with $30 million in total volume from the first half of 2017, and $45 million in total volume from the first half of 2018, a 40 percent increase.
Whitefish, Kalispell, Columbia Falls, and Lakeside/Somers all saw more land sales in the first six months of this year than in the same period last year. Of this group, Whitefish had the biggest increase in total volume of land sales, with a 42.5 percent increase. Meanwhile, Kalispell saw the biggest gains in total volume for residential sales, increasing by 15.7 percent.
It’s a great time to be considering selling Northwest Montana and Flathead Valley property. You can browse online for Whitefish Montana real estate, Kalispell real estate, Bigfork real estate, Lakeside Montana real estate, or give our local offices a call today. We’re so excited to see this growth in our local markets, and can’t wait to see how these trends continue into the second half of 2018.
PHOTO: Flathead Valley, Bigfork homes for sale offer easy access to Glacier National Park’s natural wonders.