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Another year has come and gone. Before we say farewell to 2021, it's time for the December issue of The Revel Roundup, dedicated to keeping you informed and up-to-date on all things Real Estate
in Western Montana.
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Typically, November and December are some of the slowest months in real estate. Between the holidays, vacation travel and inclement weather, many put off listing - or buying - property until the new year. While this year has been anything but "typical," real estate activity in our area was slower than previous months.
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Active residential listings:
Whitefish:
91
Flathead County:
257
*as reported on 12/29/21
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Between December 1-29, 2021, there were 27 residential closings in Whitefish, -52% vs. the same period last year.
$0 - $499,999: 6 (-77%)
$500,000 - $749,999: 8 (-43%)
$750,000 - $999,999: 5 (+150%)
$1,000,000+: 8 (-43%)
date range: 12/1/21 - 12/29/21
percentage delta vs. same date range of 2020
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Residential listings under contract:
Whitefish:
155
Flathead County:
352
*as reported on
12/29/21
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Between December 1-29, 2021, there were 167 residential closings in Flathead County, -24% vs. the same period last year.
$0 - $499,999: 59 (-59%)
$500,000 - $749,999: 47 (0%)
$750,000 - $999,999: 29 (+383%)
$1,000,000+: 33 (+50%)
date range: 12/1/21 - 12/29/21
percentage delta vs. same date range of 2020
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So What?
While the real estate market has been as volatile as the weather as of late, there are a few notable takeaways from the above:
- We've seen a large increase in the sale of residential homes priced between $750,000 and $999,999, both in Whitefish (+150% increase between December '20 and December '21) and Flathead County (+383%). Once deemed "obscure," this will continue to be a "sweet spot," with buyers
hoping to secure a home and sellers hoping to cash in on a hot market.
- While the sale of $1M+ homes in Whitefish was down between December '20 and December '21 (-43%), the sale of $1M+ homes in Flathead County was up 50%. With inventory down in Whitefish, interest has spread to other towns in the county, including Kalispell and Flathead Lake towns such as Bigfork and Lakeside.
- Price per square foot continues to rise, both in Whitefish ($368/foot in November '21, +30% vs Nov '20) and Flathead County ($291/foot in November '21, +28% vs Nov '20)
- For Buyers, their greatest foe is lack of inventory, although experts anticipate a decline in bidding wars into the new year. For Sellers, Buyers will continue to be more discerning so putting your best home forward will produce stronger results.
Are you as interested in the stats as we are and want to talk more? Contact us and let's find a time to connect.
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Considering purchasing an investment property? Successful real estate investors evaluate more than just "purchase price" when analyzing a potential property. Here are some tips to help you navigate your real estate investment strategy.
Read More Here
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One of Whitefish's cherished New Years Eve traditions is the torchlight parade and fireworks at Whitefish Mountain Resort. Festivities begin at 5:30PM outside of Ed & Mully's. If you're in town, I strongly recommend experiencing this!
Learn More Here
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As we look ahead to 2022, we want to thank you for joining us on this journey. When we opened our doors last year, we had one goal: to create a better real estate experience for those buying and selling luxury recreational properties in Western Montana. Now, just 12 months later, we are proud to say we've amassed a team of Western Montana's best agents, all of whom provide our clients with a white glove service, understanding and
customization you won't find anywhere else.
We'd be honored to help you achieve your real estate goals next year. Contact us to set up a time to talk. We can't wait to get started!
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