Bigfork Real Estate Market – March 2020

Bigfork Real Estate Market – March 2020

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

In March 2020, Bigfork Montana sales and median prices remained stable. Following is an overview.

Sales Volume

In the month of March 2020, there were 15 residential sales which was nearly the same as the previous month and higher than the same time last year. The year typically starts and ends with lower volumes and increases in Spring so March 2020 remains true to form. Please review the most recent Kalispell report for information pertaining to how the 2020 Coronavirus might be impacting local results.

Inventory

In terms of inventory, there are still 115 residential homes on the market which is the same as last month. Of the homes currently available, 13 are condominiums, seven are townhouses, two are manufactured homes and the rest are single family homes. In the last twelve months, 260 residential homes sold in Bigfork which means there are more than five months of inventory currently available. This data indicates the Bigfork area is 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 March 2020 was $380,000 which was 4% higher than the same time last year and 13% higher than February 2020. As mentioned in the last report, 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. In fact, for informational purposes, in the month of March, the most expensive home sold (see below) brought the average price point for Bigfork from $367K in February to $945K in March. Obviously, average price points are not the most useful when analyzing trends.

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 March was a three bedroom, one bath, ~1,200 square foot single family home with 5 acres of land. The home sold in the $250K vicinity. The most expensive home that sold included more than 14,000 square feet of living space, 5 bedrooms, 10 bathrooms, parking for 8, a sauna, workout room, wine room and more. The 27 acres of land included lakefront as well as a 100-tree cherry orchard. This home sold for more than $8M.

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 and strong. If you have any specific questions about Bigfork, Kalispell 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!