|Average Sales Price||$872,916 (+6.7%)||$569,220 (+24%)|
|Average Days on Market||50 (-66%)||47 (-57%)|
|Month Supply||0.8 (-82%)||0.8 (-77%)|
|New Listings||48 (+46%)||174 (+3%)|
|For Sale||54 (-70%)||200 (-68%)|
|Pending||53 (+18%)||183 (+16%)|
|Closed||35 (+21%)||144 (+23%)|
February 2021 Residential listings only. Comparison from February 2020.
All data from the Montana Regional MLS. Data deemed reliable but not guaranteed.
The Big Takeaways From February’s Market Report
Demand Is High
High-end mountain resort markets such as Whitefish have seen significant spikes in sales volume and price as housing has become the pandemic’s hottest purchase. Covid has also rewired the buyer to focus on attributes like wellness, privacy and security – three features Whitefish touts. Where once people considered Whitefish a vacation destination, Covid and the “work from anywhere” culture has shown them that Whitefish is a great place to live and not just vacation.
Inventory Is Low
It’s the phrase heard ‘round the world. Everyone is saying it. But why? It’s simple economics – the supply doesn’t meet the demand. Compared to February 2020, Whitefish Residential listings are down -70% and -68% in Flathead County.
There Is No “Shoulder Season” Anymore
Typically, February has been one of the slowest months for housing sales. Properties just don’t shine in the winter with gray skies, snow and ice. Many times, those interested in listing their property will wait until they have blue skies, green grass and sparkling water to support them. However, new residential listings in February were up +46% in Whitefish and 3% in Flathead County.
You Need To Move Fast
Average days on market – the amount of time it typically takes for a property to go under contract – is down -66% in Whitefish and -57% in Flathead County, to 50 days and 47 days, respectively. The big takeaway: if you see something you like, you better act quickly, because it won’t be around long.
Are You Interested In Selling?
The time is NOW to sell your home. If you are remotely interested in selling, or at least knowing what your property might list for, we’d love to hear from you. Give us a call, shoot us an email or swing on by the office and let’s talk over an espresso or a drink at the bar.