I know these past 33 weekly columns have focused overwhelmingly on single-family residence market activity, but that is the lion’s share of movement and also the keenest interest of many readers. However, in this week’s column I’ll showcase the past 3 years of sales activity for condominiums and townhouses (see chart).
I filtered my analysis to include only those with 2+ bedrooms, 1+ baths, 700-2200 square feet, having sold for prices between $100,000 and $500,000 over the past 3 years (January through November each year). Most condos and townhouses sell for prices between $150,000 and $300,000. Townhouse sales having sold for $150,000 and $199,999 were literally off the chart in 2016, with 1/3 fewer in 2017 and substantially fewer this year. 2018 has been a banner year for townhouses selling for $200,000 to $249,999, and ranges just above or below that segment moved half as many units. Condos sell for more per square foot (median sold prices per square foot) than townhouses, from $250,000 sold prices and beyond. Condos generally take longer (than townhouses) to sell.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.