Are residential land parcel prices increasing? I charted median residential land sales (prices per acre) by city and over the past five years (July 31 back to Aug. 1 prior year), for parcels sized 1-5 acres (see chart). Outlier extreme median prices were seen in Lakeside in 2019, and in Bigfork during 2017.
Kalispell shows an overall gradual uptick, and it ran neck-and-neck with Columbia Falls and Bigfork parcels pricing per acre in 2020. Columbia Falls was costlier than Bigfork, for 2018 and 2019. Polson was matching Bigfork prices, for 2018 and 2019, but the bargains came back in 2020. Whitefish stays between $60k and $80k.
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.