Kelley’s Market Trends: Lake County Residential

Last year was a near-record year for home sales in Lake County

By Jim Kelley

Last year was a near-record year for home sales in Lake County. There were 369 home sales reported, compared to 332 in 2015, representing an 11 percent increase.     

The median price in 2016 was $255,000, which was 13.6 percent above the 2015 median of $224,500. The 2016 median was higher than the 2007 high of $240,000 by 6.3 percent.

In 2015, around 14.4 percent of Lake County’s market was made up of waterfront homes, which tend to increase the overall median home price.  When lakefront homes are not considered, the median home price for 2016 was $225,000, which is an 8.8 percent increase over $206,750 median of non-waterfront homes in 2015.

The greater Polson area had a 7.5 percent increase in the number of sales in 2016 and a 11.1 percent increase in the median price. The greater Ronan area had nearly the same number of sales as it did in 2015, but the median price increased by 21.3 percent to $185,000.