Bigfork Real Estate Market – June 2020

Bigfork Real Estate Market – June 2020

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

In June 2020, the number of sales and median prices in Bigfork Montana increased. Following is an overview of the market.

Sales Volume

In the month of June 2020, there were 26 residential sales in Bigfork which was 53% more than in the previous month and 63% more than June 2019. This is great news for Bigfork. Most likely Spring sales that may have been on hold due to pandemic restrictions have bloomed!

Inventory

In terms of inventory, there are 97 residential homes on the market, which is a eight less than the same time last month. Another data point of interest — there are 71 homes under contract which is a 58% increase over May. Activity is indeed increasing.

Of the homes currently available, 9 are condominiums, five are townhouses and the rest are single family homes. There are no manufactured homes available at this time. In the last twelve months, 267 residential homes sold in Bigfork which means there are about four and a half months of inventory currently available, slightly less than last month. This data indicates the Bigfork area is experiencing a market that is wavering between a seller’s market and balanced market. A balanced market is typically a good time to both buy and sell.

Median Sales Prices

The median sales price for June 2020 was $363,000 which was 15% more than the same time last year and 10% higher than May 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 year to date median price is $354K, just 3% higher than last month. Prices are still reasonably steady in Bigfork.

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 June was a one bedroom, one bath ~500 square foot condominium within walking distance of restaurants and shops. The home sold for slightly less than $130K. In June, the most expensive home was a five bedroom, four bath, 10,700 square foot home with in-home theater, Montana rock fireplace, an elevator, 2000+ square foot garage, pond with waterfall and more. This home which also came with 40 acres of land and Flathead Lake and Swan Mountain views, sold for around $2M.

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. This is part of the reason for the volatility in median sale prices.

Summary

The residential real estate market in Bigfork Montana remains strong in terms of volume and prices. If you have any specific questions about Bigfork, Kalispell or Lakeside, feel free to contact me. If you would like an estimated market value for your Montana home, check out this online home evaluator. If you would like a market value that is specific to your home, give me a call and I’d be happy to come take a look and provide detailed analysis. And as always, 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!