While Spring brings every type of weather imaginable to the Flathead Valley, our sunrises are something to write home about (or at least, ensure we're awake for). With each day growing longer, residents have more time to recreate. How are you spending the extra hours of daylight? We've been spending some of that time crunching the data for the April
issue ofThe Revel Roundup, dedicated to keeping you informed and up-to-date on all things Real Estate in Western Montana. If you're up early - or late - scroll on, and happy reading!
Q1 2022 Market Report
The Western Montana Real Estate market saw some of the highest highs and lowest lows last quarter. What does that mean for Buyers and Sellers? We analyzed the data across Flathead County, Missoula County and Ravalli County to better understand - and forecast - Western Montana's residential Real Estate market.
Closed sales of Single Family Residences in Flathead County priced below $500K hit their lowest number since April 2009. Across the board, homes below $500K were down -59% in Flathead County and -44% in Missoula and Ravalli Counties (vs Q1 2021).
Median Sales Price & Average Sales Price
Whitefish
Whitefish recorded its highest Median Sales Price for Single Family Residences (SFR) ever (note, data goes back to January 2009), at $800,000, +24% from Q1 2021. Its Average Sales Price also continued to climb, although not hitting record highs, at $1,111,282.
Missoula
Missoula saw a +20% increase in Median Sales Price for SFR from Q1 2021. At $502,000, it is the highest Median Sales Price recorded for the quarter, and a 3% increase from Q4 2021. Average Sales Prices were up 15%, at $547,925.
These past two years have been a real estate frenzy, thanks to the pandemic and historically low mortgage rates. Now, as mortgage rates increase, mortgage applications are slowing. Will this mean a slow down in the real estate market, or simply an uptick in cash (vs financing) real estate purchases?
It may be shoulder season, but that doesn't mean Western Montana is asleep. If you're looking for something fun to do this weekend, we've rounded up a collection of live music, theatre and other activities to keep you entertained. .> . Read More Here
Curious about the Q1 Market Report, and what it means for your Western Montana property search, or the equity of your current home? These are the things we love to talk about, so swing on over and let's talk shop over a drink.
We use Instagram and Facebook to share local market insights, highlight current happenings and keep my followers up-to-date on all things Western Montana. If interested, click on the links below and follow me.
