Flathead County real estate activity is glaringly different than it was three years ago, for single-family residences originally listed for less than $600,000 (2+ beds, 1+ baths, 900+ square feet). I charted the counts of active and sold listings, by month, by original list price range, by $100,000 segments ($200,000 through $899,999). The $200k-$299k segment has dwindled into near oblivion, and all segments less than $600k have seen active listings dry up; but that’s not the whole story. (For the print edition, we’ve selected one price range — $300,000 through $399,999 — but the online version of this column has a GIF with rotating charts with a series of price ranges.)
Active listings (MLS status of Active or ‘A’) may be available for offers, or they may already be under con-tract and taking backup offers (MLS status of Active or ‘A,’ with a contingent code of ‘T’). Buy/Sell Agreements often have contingencies, wherein the deal gets cancelled or altered depending upon many conditions or triggers. How a deal is going, how likely to close or bust, possibility of a secondary (or future) offer being considered, these are the purview of the seller and their listing agent.
Deals can turn on a dime, contingencies come and go, so what’s the percentage of Active listings that are “under contract taking backup offers” — well, it is extremely dynamic, can change daily or even hourly, and I don’t throw myself into trying to track it. Who has the hourly or daily details? Realtors.
GIF (rotating charts with different price ranges):
Richard Dews is CEO of Glacier Flathead Real Estate, a Flathead-based real estate software and services company.