Residential sales continued to improve in 2013 with overall sales up more than 15% from 2012 according to Jim Kelley of Kelley Appraisal in Kalispell. Low interest rates, combined with decreasing REO and Short Sales of distressed properties resulted in an increase in the median price of properties sold to $210,150 which is an increase of nearly 12% over the previous year. The average price of properties sold increased 6.9% to $286,230.
Kelley’s figures also showed that the inventories of residential properties to begin 2014 are lower than at any time since 2005, so sales of properties should be more competitive and prices should continue to rise in local markets. Inventories are also short to begin the year for land listings, and while prices for land dropped by more than 8% in 2013, overall sales of land were up 61.2% Commercial development is expected to continue at a brisk pace with several projects slated for 2014.
Affordability remains high in the area, but increasing interest rates could dampen that somewhat. For those people who have been looking to move to the valley, the time could be now.
And, with popular destinations like Glacier National Park, Flathead Lake, and the Big Mountain and Blacktail Mountain ski areas so close by, who wouldn't want to move to the area? Glacier
National Park is 1 million acres of mountains, lakes, valleys,
flora, and fauna that hosts 2 million visitors each year. Only
Polson of the aforementioned cities lies more than an hour away
from the West entrance to Glacier. The park features 106
miles of the Continental Divide of the Rocky Mountains winding
around and among 762 lakes, 563 streams and rivers, and over 730
miles of hiking and horseback trails. It is the home to wolves,
black and grizzly bears, lynx, mountain lions, and over 270 varieties
of birds in addition to more than 1,200 types of plants and flowers.
Flathead Lake is the largest freshwater lake west of the Mississippi
River, at 28 miles long and from 2-15 miles wide.
Native bull and cutthroat trout head a list of 25 species of
fish, and the lake covers 191 square miles which makes it the
perfect spot for fishing, sailing, picnicking, boating, camping
Eagle Bend Golf Course at Bigfork
on the north end and Polson Country Club at the south end of
the lake provide beautiful views of the lake and the Swan Mountains
in addition to challenging but enjoyable lay-outs.
Big Mountain located just north of Whitefish, and Blacktail
Mountain just west of Lakeside offer thousands of acres of terrain
for downhill and cross country skiing and snowshoeing in the
winter months, and hiking and mountain biking during the summer.
“Quality of life” is
probably the number one reason why Montana residents want to
stay here, and why visitors from other regions fall in love with
the area at first sight. People who have visited agree
with the coined phrase, “Last, Best Place” to describe
this corner of Montana. The 4th largest state in area,
Montana ranks 44th in population, giving it the “Big Sky” and “open
land” feeling. Life is a little more laid-back,
and a little less chaotic than in most areas of the country. The
scenery is second to none.
Whether you’re considering part-time residence, or planning
to enjoy all four seasons in Montana, contact Alice Ritzman for
all your real estate needs.