Bigfork Real Estate Market – April 2020

Bigfork Real Estate Market – April 2020

Following is an overview of Bigfork Montana real estate results for the residential market as of April 2020. Similar to the Kalispell reports, this data includes single family homes, townhouses, condominiums and manufactured homes. 

In April 2020, the number of sales in Bigfork Montana decreased. Prices remained healthy. Following is an overview of the market.

Sales Volume

In the month of April 2020, there were 13 residential sales in Bigfork which was 50% less than the same time last year and two less than March 2020. It is quite possible that the Bigfork area is reacting to the restrictions which existed through the month as part of the Coronavirus pandemic. If that is the case, now that some of those restrictions have been relieved, we may see an increase in the May results. Stay tuned!

Inventory

In terms of inventory, there are 108 residential homes on the market, which is seven less than the same time last month. Another data point of interest — there are 30 homes under contract. Those should be closing in the near future.

Of the homes currently available, 15 are condominiums, six are townhouses, one is a manufactured home and the rest are single family homes. In the last twelve months, 248 residential homes sold in Bigfork which means there are a little more than five months of inventory currently available. This data indicates the Bigfork area is still experiencing a relatively balanced market, where neither buyers or sellers have the upper hand. A balanced market is typically a good time to both buy and sell.

Median Sales Prices

The median sales price for April 2020 was $365,000 which was 4% higher than the same time last year and 4% lower than March 2020. Prices in Bigfork do tend to change month by month due to the relatively small amount of inventory sold each month and the huge differences in price points and home styles/location. The median price for the first quarter of the year is $354K, so April’s prices remained healthy.

Type of homes being sold

To get an idea of the types of homes that are selling in Bigfork, the lowest priced home that sold in April was a two bedroom, two bath, ~1,300 square foot townhouse overlooking a golf course. The home sold for slightly less than $300K. The most expensive home that sold included six bedrooms, six baths, two stone fireplaces and was located in a gated community with 50 acres of shared land. This home sold for more than $1M.

As can be seen above, there are many different types of homes available in the Bigfork area that run the gamut from small condominiums and manufactured homes to large sprawling estates.

Summary

The residential real estate market in Bigfork Montana remains healthy in terms of prices. While the number of April sales have dropped, that may be a temporary blip caused by a nationwide health emergency. If you have any specific questions about Bigfork, Kalispell, Lakeside or any other part of the Flathead Valley, feel free to contact me. If you are wondering what you might be able to get for your Montana home, check out this online home evaluator. And if you need help selling your home or finding that perfect new home to purchase, I can be reached at 406-270-3667. Finally, if you’re interested in seeing what homes are currently available or just want more information about the area, feel free to check out this Bigfork page.

More next month!