Photo:Mission Mountains and St. Ignatius from the National Bison Range
It has been a beautiful spring with lots of snow still to come out of the high country. It’s a rainy morning this first day of June, and that will cause problems for some folks in low lying areas no doubt. Took a quick Memorial weekend trip through Yellowstone Park. Rivers were high most everywhere we travelled.
I checked the overall volume of sales in the Polson market this year against last year. We advanced about 19% — from 17.5 million to 20.9 million.
RESIDENTIAL SALES: It was a slower May than 2017 which had 4 more closings. In May 2018, there were 12 sales ranging from $110,000 to $374,000. There were no waterfront sales last month (in May 2017 there were three). Here is the break out:
|to 100K||100-199K||200-299K||300-399K||400-499K||500K +|
LAND SALES: The number of land sales in May registered one more than May last year. There were six from $36,500 for a 2+ acre parcel in Jette Meadows to a lake front lot on Finley Point that sold at $1991 per front foot or $131K/acre. Two lake access home sites sold as well. Happy to report that Mission Bay Real Estate represented buyers or sellers in 50% of these sales!
ACTIVITY: I was at one of our local title companies for a closing yesterday, they said that they have been busy. There are 34 properties in Polson right now that are under contract. This May is just about the same as last May: One more property went under contract compared to May 2017: 31 vs 30.
Flathead Lake Waterfront and Lake Access Properties:
In the Polson market, ten waterfront and water access properties went under contract in May 2018 (residences and land). This compares to eight in May 2017. Numbers from the first of the year through May are similar as well: 27 this year, just two more than last. If one were to separate out the properties with navigable frontage (excludes condos and shared access properties) the numbers are the same from year to year — 10 going under contract in the first five months.
Inventory: In the Polson market, there are now 44 lake front properties available for sale ranging in price from $229,000 to $3.9 million. The median price is $849,000. Lake-wide there are a total of 213 waterfront properties available now with a median price of $995,000. Shopping for a condo on the water? Thirty-nine are offered for sale right now with a median asking price of $497,000.
Just as a note of curiosity for readers following what has been the most expensive property on Flathead Lake for several years, Shelter Island dropped in price today to $13.95 million, making it the third highest asking price on the lake. If you know of a buyer, please send them my way!
June is a great month to get out into our beautiful spaces, and I hope that you have the opportunity to do just that.
Please feel free to contact me with your real estate questions.