Waterfront real estate sales on Flathead Lake were strong throughout 2019, although not as strong as 2018, according to data from the Northwest Montana Association of Realtors.

There were reportedly 62 total waterfront property sales in 2019, amounting to just over $63 million in volume. In 2018, there were 75 total sales adding up to $76 million in volume — a record year for waterfront real estate.

Prices for waterfront properties increased from 2018 to 2019. The median, or middle-point price, rose from $650,000 to $765,000. The median price is the point at which half the properties sell for a higher price and half the properties sell for a lower price.

In 2019, there were no lake sales over $3 million, but the number of sales in the $1 million to $3 million range reportedly increased 168%. In 2018, there were four sales over $3 million, including one sale of $10 million.

The sales volume in Polson increased, while the lower west shore region saw decreased sales from the previous year. The Lakeside/Somers/Rollins area had the most waterfront sales in 2019, with 21 sales. The Dayton/Elmo/Big Arm area had only seven sales in 2019, down from 18 in 2018.

Condominiums accounted for 37 sales in 2019 and there are 25 active waterfront condo listings. Across the board, inventory of waterfront real estate is decreasing.

“Diminishing inventories will continue to drive prices upward,” PureWest real estate broker David Fetveit said in his January 2020 Waterfront Market Report. “Fewer transactions are expected, but the higher prices should result in similar total sales volume for the coming year.”

Reporter Bret Anne Serbin may be reached at bserbin@dailyinterlake.com or 758-4459.