This past quarter in Northwest Montana, we saw sun, snow, and great real estate sales. The numbers from Q3 of 2018 are in! Find the full report here.
During the third quarter of 2018, compared to the same period in 2017, the median price of homes sold by PureWest agents in the western Montana region increased by 7.74 percent. This is right in line with trends established earlier this year: this metric was up in the first quarter by 8.2 percent, and in the first half by 6.8 percent. This increase was reflected in Whitefish, Kalispell, Columbia Falls, Lakeside/Somers, and Polson, with the biggest gains in Lakeside/Somers, where the median increased by 22.8 percent over Q3 2017. All Flathead Lake communities performed well: Bigfork—one of the strongest markets so far this year—saw an increase of 15.7 percent over Q3 2017, and Polson saw an increase of 18.14 percent. Bigfork’s median price was the highest, at $416,750.
There was also an increase in total volume of residential sales across the region, from $531 million in Q3 of 2107 to $565 million in Q3 of this year.
In land sales, the region saw a 7.72 percent increase from Q3 2017 to Q3 2018. The median price increased by 5.8 percent, and the total volume increased by 5.3 percent, compared to the same period last year. Of the individual markets, Whitefish performed best in median price, with a 24.7 percent bump. Bigfork saw a 13 percent increase. For total volume sold, Whitefish outpaced Bigfork once again, but Somers/Lakeside property had the most robust growth this quarter, reporting a 123 percent increase in total volume of land sales.
Both residences and land parcels spent less time on the market this third quarter, with improvements across all markets.
Fall is an excellent time to sell 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, and Polson real estate. Give our local offices a call today to learn more about listing your Whitefish, Kalispell, Bigfork, Polson, or Lakeside property with one of our exceptional PureWest agents.
PHOTO: Lakeside property, featuring 497 Conrad Point Drive. For more information, contact David Fetveit at (406) 249-1764.