Is Lake County, MT a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lake County was a Neutral Market.
Key Takeaway
Lake County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Lake County, MT
How much do homes in Lake County, MT cost?
Median Sold Price
$510,666
$277/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lake County have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Lake County was $510,666 in May 2024, up 7.1% from last year, and the median price per square foot was $277.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $302K | $292K | -3.3% |
| 2 Bedrooms | $350K | $362K | +3.4% |
| 3 Bedrooms | $494.2K | $505K | +2.2% |
| 4 Bedrooms | $635K | $692.5K | +9.1% |
| 5+ Bedrooms | $768.5K | $630K | -18.0% |
Summary: Lake County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes decreased by 18%.
Median Sold Price Compared To Nearby Counties
| Lake County | $477K | $510.6K | +7.1% |
| Flathead County | $606K | $630K | +4.0% |
| Missoula County | $530K | $549.3K | +3.6% |
| Sanders County | $480K | $450K | -6.3% |
Housing Supply in Lake County, MT
How many homes are available in Lake County, MT?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 146 | 184 | +26.0% |
Summary: The Lake County real estate market had 184 homes for sale in May 2024, a 26.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 6 | 0.0% |
| 2 Bedrooms | 25 | 34 | +36.0% |
| 3 Bedrooms | 57 | 72 | +26.3% |
| 4 Bedrooms | 39 | 50 | +28.2% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Lake County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36%, 3 bedroom homes increased by 26.3%, 4 bedroom homes increased by 28.2%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 18 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lake County, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Lake County in May 2024, the same as the previous month. Of the 18 sold homes, 56% were sold under asking, 28% were sold at asking, and 17% were sold over asking.
Days on Market for Lake County, MT
How long does it take to sell a home in Lake County, MT?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 96 Days | 87 Days | -9.7% |
Summary: Homes in Lake County had an average of 87 days on market in May 2024, down by 9.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Lake County has remained consistent over time.
Summary: During May 2024, 18 homes were sold in Lake County; 6% of homes were sold within 30 days, 78% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (IDX) program of the Montana Regional Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright© 2024 Montana Regional Multiple Listing Service, Inc. All Rights Reserved.
The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange of the Gallatin Association of Realtors/Big Sky Country MLS. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed. Copyright© 2024 Gallatin Association of Realtors/Big Sky Country MLS. All Rights Reserved.