Year in review.
2018 was a great year for Real Estate in Northwest Montana. I personally sold some beautiful properties and made some lifelong friends along the way. Every market experienced a nice increase in median home prices and a steady stream of closings. In my main market the Flathead Valley we have seen the Median list price on housing increase this year by 10% to $370,000 and the median sale price rose 12% to $275,000. Cumulative days on market or CDOM is down 9% to 89 days. There continues to be a shortage of lower priced opportunities for buyers. Some new subdivisions have been approved in Whitefish, Kalispell and surrounding cities. I anticipate that type of property will be in a good price range and continue to sell. Not seeing much subdivision activity in the county with larger parcels than in town. Montana’s somewhat recent Exempt Well ruling has made it difficult for developers to create new communities out of city limits. Here is a link to the Western Environmental Law centers exempt well law explanation. https://westernlaw.org/exempt-well-loophole-mt/ . 2019 looks to be more of the same in our markets. People from all over know about the Flathead Valley and will continue to move to the Big Sky Country! Happy New Year have a great 2019!
Outlook 2019: A ‘Rosy’ Outlook for Real Estate
BY MOLLY PRIDDY // JAN 1, 2019 | FLATHEAD BEACON
The real estate market was hot in 2018, the kind of activity that keeps Realtors and homebuyers hopping well past the busy spring and summer seasons and into the historically slower times of fall and winter.
“What I’m hearing from my agents is that they’re as busy now as they were in July,” Erica Wirtala of the Northwest Montana Association of Realtors said. “I’m sure there are some out there that are slowed up, but the ones really hustling are still busy and doing well.”
Homes in the $200,000 to $300,000 price range sold the most in 2018, a demand that lines up with a growing population in Flathead County. Richard Dews, CEO of Glacier Flathead Real Estate, charted real estate activity in 2018, and the data showed a decline in less-expensive home sales, while higher-end purchases are picking up speed.
According to Dews, 240 homes between $200,000 and $249,000 sold in 2017, whereas in 2018, that number dropped to 200. Properties listed for more than $450,000 saw an increase in sales of anywhere between 15 to 50 percent over 2017 depending on the price range.
BY MYERS REECE // JAN 2, 2019 | FLATHEAD BEACON
A total of 144 new residential units were permitted in Whitefish from January through the end of November, the second most in the last decade behind 2016. That total included 63 single-family homes valued at nearly $31 million, as well as 27 townhouses and 54 multi-family units.
If a number of large projects either approved in 2018 or pending approval break ground and start submitting building permit applications, 2019 could see record or near-record residential construction.
Three projects approved in 2018 — Alta Views off JP Road, Eagle Lake by Mountain Mall and The Quarry on Wisconsin Avenue — have the potential alone to bring more than 260 units to the city, with construction timelines depending on phasing and build-out plans.
“If you’re looking at 2019, there’s a good indication that all those approved projects, if they all come forward, there’s going to be a lot of residential construction,” Whitefish Planning and Building Director Dave Taylor said.
Additionally, the city council on Jan. 7 is scheduled to discuss a proposal to build a 234-unit apartment complex, consisting of seven buildings, at the old North Valley Hospital site. The owner of the property is Michael Goguen and the applicant is Will McDonald. Roughly 30 percent of the 11.8 acres would be open space.
The project calls for 90 studio apartments, 90 one-bedroom units and 54 two-bedroom units, and includes 20 percent — or 47 of the 234 units — to provide deed-restricted affordable housing. The affordable units would be income-restricted and managed in partnership with the Whitefish Housing Authority.
The city had $5.5 million worth of commercial projects permitted from January through November of 2018, including five new projects, nine additions and 28 remodels. There should be a number of notable commercial projects moving forward this year as well, including the $26 million new Muldown Elementary School.
Below are some properties listed for sale by Brian.
Whitefish Theatre Company presents “Mamma Mia: The Musical”
Put on your platform shoes, your feather bosas and get ready for one of th emost popular musicals of all time, Mamma Mia! February 21-24, 2019
O’Shaughnessy Center, 1 Central Avenue, Whitefish
All shows at 7:30PM (except Feb 24-show is at 4PM)
2019 Whitefish Mountaineering
February 9, 2019
PRE-REGISTRATION IS MANDATORY!
The Whitefish Whiteout is a mountaineering race, where competitors skin and bootpack up a variety of terrain, remove their skins and descend challenging terrain. The course will take competitors on an up and down route throughout the permit area of the resort and consists of 8 stages for the Long Course, 3 stages for the Short Course and an Ascent-Only Category.
The Whiteout is open to AT/touring skiers, telemark skiers and splitboarders with a men’s and women’s category in each. Choose from Single Ascent, Short Course and Long Course in each category. There is a maximum time of 4 hours for all competitors to complete the course.
Find snow conditions on Whitefish Mountain: visit their snowcams
Presidents’ Day Weekend Fireworks & Torchlight Parade
February 16 on Big Mountain
Celebrate the holiday weekend on the slopes with a bang. Join us at the bottom of Ed’s Run to watch as a glowing group of skiers descend the slope followed by spectacular fireworks show.
Starts 6:45 p.m. on Ed’s Run/Upper Village.
Live music at Ed & Mully’s.
*Night skiing is extended for Presidents’ Weekend– join us on the slopes from 4-8:30 pm on Sunday, February 17.
Torchlight Parade Registration: Register at the bottom of Chair 2 by 5:30 pm. You must be an intermediate or expert skier or snowboarder to participate and be wearing low-visibility goggles. Please wear warm clothing that you won’t mind getting a few torch burns on.