2020 Q4 Market Report

We all know 2020 was one for the ages. As we close the books on 2020, let’s take a look at the 4th Quarter statistics for land and residential sales in our market.

The big takeaways:

  • If it wasn’t already, Whitefish, Montana has become one of the darlings in the Montana real estate market. Boasting four seasons of resort and recreation, proximity to Glacier National Park, a world-renowned ski resort, private and public golf clubs, waterfront recreation, miles of hiking and mountain biking and an international airport just minutes away, Whitefish residential sales jumped 119% in Q4.
  • 2020 started the year off with Whitefish and Flathead County residential inventory at 5.6 months and 4.1 months, respectively. By year’s end, inventory had dropped 69% in Whitefish to 1.9 months and 66% in Flathead County to 1.6 months. With extremely low inventory, many potential buyers are stuck sitting and waiting for any opportunity to come available.
  • For those searching in the $1,000,000 and above price range, residential supply has dropped even steeper, down 80% in Whitefish and 71% in Flathead County.
  • Q4 residential sales growth in Whitefish hit the triple digits seeing a 119% increase (243 closed sales) vs. the prior quarter.
  • Year-to-date land sales increased over residential sales in both Whitefish (+60% vs +56%) and Flathead County (+51% vs +33%)

Whitefish Residential

Q4 2018Q4 2019Q4 2020YTD 2020
Total Sales110111243 (+119%)687 (+56%)
Average Sales Price$594,769$588,645$875,509 (+49%)$808,133 (+32%)
Median Sales Price$425,000$410,000$550,000 (+39%)$535,000 (+24%)
Average Days on Market9712076 (-37%)101
Months Supply8.76.21.9 (-69%)4.7
Gross Sales$65,429,557$65,339,616$212,748,619 (+226%)$555,187,628 (+107%)

Whitefish Land

Q4 2018Q4 2019Q4 2020YTD 2020
Total Sales465682 (+46%)291 (+60%)
Average Sales Price$172,848$243,398$400,068 (+46%)$325,798 (+24%)
Median Sales Price$127,500$165,000$295,000 (+64%)$219,000 (+29%)
Average Days on Market251223229 (+2%)244 (+8%)
Gross Sales$7,951,000$13,630,300$32,805,548 (+141%)$94,807,348 (+98%)

Flathead County Residential

Q4 2018Q4 2019Q4 2020YTD 2020
Total Sales482521830 (+59%)2,766 (+33%)
Average Sales Price$421,768$429,782$620,988 (+45%)$535,762 (+26%)
Median Sales Price$325,000$340,000$415,000 (+22%)$380,000 (+15%)
Average Days on Market839358 (-38%)76
Months Supply6.54.71.6 (-66%)3.2
Gross Sales$203,292,174$223,916,172$515,420,155 (+132%)$1,481,917,438 (+68%)

Flathead County Land

Q4 2018Q4 2019Q4 2020YTD 2020
Total Sales147183318 (+44%)1,063 (+51%)
Average Sales Price$157,180$176,868$273,934 (+55%)$223,896 (+27%)
Median Sales Price$120,000$113,880$175,000 (+54%)$140,000 (+20%)
Average Days on Market259292245 (-16%)120 (-9%)
Gross Sales$23,105,400$32,366,780$87,111,037 (+169%)$238,001,272 (+92%)

This information is based on data supplied by Montana Regional MLS. Montana Regional MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by Montana Regional MLS may not reflect all real estate activity in the market.

Kelly Laabs

Kelly Laabs

A native Montanan, Kelly Laabs is in the top 1% in volume for Montana’s real estate producers, closing more than $80MM worth of business in 2021. As an eternal connector and true Montanan, Kelly Laabs believes in finding the perfect property for his buyers and representing his sellers with creativity, passion, and transparency.

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