In Flathead County, around 51 percent of all residential homes sales are homes on lots that are a half acre or less and do not have water frontage. This week’s graph shows the last 10-year history of these homes. Most of these homes are in one of Flathead county’s three cities or in one of the County’s unincorporated towns.
The median price for homes on small lots increased from $193,750 for the first eight months of 2015 to $212,500 this August. This is nearly a 10 percent increase, compared too around a 7 percent increase of the median price for the overall home market in Flathead County. The 2016 median price of $212,500 does set a new record high for homes on small lots. The previous high was a median of $206,000 in 2008 for this class of home. Over the last three years the median price for homes on small lots has increased 7 percent in 2014, 6.5 percent in 2015, and nearly 10 percent in 2016.
The total number of sales for homes on small lots is up 2 percent from the same time in 2015.