Where is the market headed in the Flathead?
The real estate market never is stagnant and is constantly in flux. Knowledge is power in this game, and if you are not on top of the trends then you will find yourself falling behind quickly. Therefore, we put together this monthly market update to quickly evaluate the Flathead Valley housing market to inform you so that you can make the most educated decisions possible out there.
Median Sales Price
$385,0000
Up almost 21% from last year, this continues to show strong signs of growth.
Days on Market
97 Days
Down almost 29% from last year homes are spending even less time on market, and with limited supply this trend appears to keep going.
Absorption Rate
1.63
Down a staggering 60% from last year, absorption rate is now down to 1.63, which means that there is less than 2 months of supply on market.
Last Month Sales
151
Up almost 21% from last years sales figures, this continues to show strong signs of demand.
Total Active Listings
375
Less than a third (36.2% exactly) of what it was last year, there is a reduced overall quantity of listings on the market making it difficult to find product and driving prices up due to increased buyer demand.
What does it all mean?
