Over the last year, the overall marketing time for homes that sold in Flathead County has averaged 162 days with a median marketing time of 91 days. Those marketing times vary substantially with the price range of the homes that sold. As the graph indicates, homes that sold for less than $200,000 had a median marketing time of 66 days and an average of 112 days. On the other end of the scale are homes that sold for more than $1 million, which had a median marketing time of 325 days and an average of 370 days.
In the last 12 months there were 1,880 residential sales in Flathead County and there are currently 913 active residential listings, which tells us that there are currently 177 days of inventory on the market. Again, this varies with the price range. In the price range that is less than $200,000, there were 399 sales in the last 12 months and today there are only 47 listings, indicating 43 days of inventory. In the price range of over $1 million there were only 42 sales in the last year, however there are currently 201 active listings in this price range. At a rate of 42 sales per year, it will take nearly five years to absorb the current inventory of these high-value homes. What this data indicates is that properties must be priced competitively if you expect to get them sold.
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