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 2018 | Q4 2019 | Q4 2020 | YTD 2020 | |
| Total Sales | 110 | 111 | 243 (+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 Market | 97 | 120 | 76 (-37%) | 101 |
| Months Supply | 8.7 | 6.2 | 1.9 (-69%) | 4.7 |
| Gross Sales | $65,429,557 | $65,339,616 | $212,748,619 (+226%) | $555,187,628 (+107%) |
Whitefish Land
| | Q4 2018 | Q4 2019 | Q4 2020 | YTD 2020 |
| Total Sales | 46 | 56 | 82 (+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 Market | 251 | 223 | 229 (+2%) | 244 (+8%) |
| Gross Sales | $7,951,000 | $13,630,300 | $32,805,548 (+141%) | $94,807,348 (+98%) |
Flathead County Residential
| Q4 2018 | Q4 2019 | Q4 2020 | YTD 2020 | |
| Total Sales | 482 | 521 | 830 (+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 Market | 83 | 93 | 58 (-38%) | 76 |
| Months Supply | 6.5 | 4.7 | 1.6 (-66%) | 3.2 |
| Gross Sales | $203,292,174 | $223,916,172 | $515,420,155 (+132%) | $1,481,917,438 (+68%) |
Flathead County Land
| | Q4 2018 | Q4 2019 | Q4 2020 | YTD 2020 |
| Total Sales | 147 | 183 | 318 (+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 Market | 259 | 292 | 245 (-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.
