Bigfork Real Estate Market – September 2020

Bigfork Real Estate Market – September 2020

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

In September 2020, the number of sales remained steady and strong. Median prices increased in September as well. Following is an overview of the market.

Sales Volume

In the month of September 2020, there were 53 residential sales which was 15% more than the previous year and even with August 2020. So far this year there have been a total of 252 residential sales which reflects a 40% increase over 2019’s year-to-date sales of 180. Similar to the Kalispell area, sales this year have been very strong.

Inventory

In terms of inventory, there are 65 residential homes on the market, which is 27% less than the same time last month. Of the 65 homes currently available, four are condominiums, one is a townhouse and the rest are single family homes. There are no manufactured homes currently available.

In the last twelve months, 321 residential homes sold in Bigfork which means there are approximately two and a half months of inventory currently available, less than August. This data indicates the Bigfork area is still experiencing a seller’s market.

Another data point of interest — there are 72 homes under contract which is 12 less than last month. The slowing of homes under contract may indicate that the summer surge is slowing.

Median Sales Prices

The median sales price for September 2020 was $469,250 which was 5% more than the same time last year and 2% more than August 2020. As indicated previously, prices in Bigfork do tend to change month by month due to the relatively small amount of inventory and the huge differences in price points and home styles/location. $469K reflects a strong median price for the area.

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 September was right around $200K. That home was a two bedroom, one bath 724 square foot cottage on about 1/4 acre of land in town.

The most expensive home sold for slightly under $1.8M. This three bedroom, four bath lakefront property included 165 foot of Flathead Lake frontage, a dock, boat lift, double Jetski lift and gravel beach. The home had an open concept, two decks, guest house with fireplace and more.

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 is very strong both in terms of volume and prices. If you have any specific questions about Bigfork, 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, call me 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!