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With the calendar turn, we've now completed one full year of Revel Roundups. As we head into year two, our goal remains the same: whether you're tracking the market in prep to buy or sell, or just out of curiosity, we are committed to providing you with the data and commentary you need to stay informed and up-to-date on all things Real Estate in Western Montana.
Welcome to the 2022 Revel Roundup; let's dive in.
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| Q4 2021 Market Report
2021 was a year for the record books! While the fourth quarter typically sees some slowing, due in part to the holidays, the Real Estate market in the Flathead Valley continued its upward climb.
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The Average Sales Price in Whitefish increased 25% compared to the same quarter last year, to $1,096,151.
In Flathead County, the Average Sales Price for Q4 was $766,249, a 23% increase vs Q4 2020.
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Average Days on Market continue to be extremely low. In Q4 2021, Whitefish saw ADOM at 42, whereas Flathead County recorded ADOM at 37.
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2021 also saw a sizable increase in Average Price Per Square Foot. Q4 2021 saw Whitefish hit $529/SqFt, a 49% increase from Q4 2020.
In Flathead County, Average PPSF recorded at $370 (+47% vs Q4 2020).
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Whitefish saw a 49% decrease in the number of Closed Sales during Q4 2021 versus Q4 2020. Flathead County saw a dip of 27% in the same period.
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So What?
- Sales Prices on homes in Whitefish and Flathead County continue to rise. Looking ahead into 2022, expect for demand to outpace supply in these strong markets.
- Expect mortgage rates to rise. While still lower than pre-pandemic levels, these rates will affect monthly payments, so Buyers will need to be mindful on the changing rates when considering purchase price.
- For Buyers coming into the Flathead Valley from other markets, make sure you partner with an Agent that is a true expert on the local market. Water rights, easements and access, among others, are all common topics when buying and selling real estate in Western Montana; working with an experienced and knowledgable Agent will allow your transactions to continue
smoothly to close.
Want to discuss more, or see how this Market Report might affect your goals of buying or selling in 2022? Contact us and let's discuss more over a coffee or drink.
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2021 was a record-setting year for waterfront real estate in Western Montana. Last year, Whitefish Lake saw 15 closed transactions*, ranging in list price from $1.6M to $5.7M. On Flathead Lake, we saw 70 transactions record, with list prices ranging from $750K to $20M.
Are you considering waterfront property in 2022? Explore Revel's exclusive list of available properties or contact me for more.
Explore More Here
*Data recorded is residential sales only with direct/navigable water access
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The Whitefish Winter Carnival is back in all its glory this year!
Are you familiar with this fun Whitefish tradition? For locals and newbies alike, January hosts a plethora of events for adults and families, culminating with the Grand Parade, set for Saturday, February 5th. Learn about the Winter Carnival history, as well the key events that make up this quirky small-town celebration.
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Learn More Here
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Featured Revel Properties
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Rare Flathead Lakefront Acreage
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Live the Montana dream on this
spectacular waterfront property located on Flathead Lake. Enjoy the entire end of Canal Bay on 14.91 acres with just over 450 feet of private waterfront. Also available as three separate lots, ranging from 4.21 acres - 5.83 acres, all with 150 feet of private Flathead Lake waterfront, offered from $1,200,000 - $1,500,000.
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Turn-Key Business & Fully-Renovated Office Building
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A unique opportunity to purchase
a newly renovated, Class A, executive office building and successful, turn-key business located on one of the most desirable corners in Historic Downtown Kalispell, Montana!
Fully-renovated office building is also available separately (real estate only) at $849,900.
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Build your dream home or legacy property on this rare,
20 acre tract in the wildly popular Haskill Basin, located just outside of Whitefish. With multiple build sites, views of the Flathead Valley and Swan Range and road access, this option can't be beat.
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Are there topics you'd like to see in future Revel Roundups? Areas that you'd like to dive deeper in? Please, let us know how we can make this email even more beneficial for you. In the meantime, if you'd like to meet for a drink and talk about the market or your 2022 real estate goals, do not hesitate to reach out.
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