The national real estate market continues to struggle in the early stages of the New Year, sending mixed messages as reported by the National Association of Realtors and CNN Money in the articles linked below. The good news is the 12% increase in gross market volume, though prices remain flat due to oversupply. 

Locally it continues to be a buyers market, as evidenced by Flathead Lake statistics compiled by our Bigfork office.Lots that are selling on the lake are closing in a range from $4,100 per front foot in the most desirable locations to as low as $1,700 per front foot. Even in the traditionally strong market around Bigfork lakefront lots have closed as low as $2,000 per front foot, down from a market high of just over $10,000 per front foot at the peak. Not many lots are selling in this range, as sellers are willing to hold rather than take such a significant loss, but those who find a willing seller are likely to make a great buy.  

Of interest to our market is the most recent edition of the Kelsey & Norden Resort Real Estate Market Survey.According to the survey, "resort real estate shoppers are buying again and there is strong emergence of younger buyers." The report details how "buyers, for their part, are budgeting more carefully" than in the past. The report includes information on the emergence of Generation X as a strong force in the resort market, comprising almost one half of the current buying population. Check out the report for buyer's preferences on carrying costs, planned communities and second home use patterns. 

Visitors to the Flathead Valley are never disappointed in the post-holiday activities, focused for the moment on the coming Presidents Day Weekend at the end of February. Revelers can enjoy the activity in Bigfork at the annual Bigfork Brewfest on Saturday, February 26, or visit Whitefish Mountain Resort for the long holiday weekend.For a taste of the action this past weekend visit the Whitefish Winter Carnival video on You Tube (see links below).