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March Market Update

Thursday, March 8th, 2018 at 3:49pm Dawn Maddux

 Engel & Völkers Western Frontier 

March Market Update

 Happy (Almost) Spring!

I am writing this note while promoting my listings and networking at the 2018 Engel & Völkers Exchange event in Seattle.  Exchange is a once a year event where the very best in real estate from across the Americas come together to collaborate, celebrate and share in being members of Engel & Völkers’ truly unique and highest-caliber network. At Exchange, we have the privilege of experiencing the power of Engel & Völkers’ reputation and its people as we connect and learn from like-minded individuals and other industry game-changers who all share an unwavering commitment to being and serving as the best. This is truly a great experience and I can't wait to get home and share the information and ideas I am learning with my team and clients!
2018 continues to be a great year for me and the entire Engel & Völkers Western Frontier team! Year to date we have closed over $3,319,000+ in sales, $1,889,000 of this was luxury homes. We continue to be the luxury leader in our market, and have represented a party in 40% of the total luxury sales volume so far this year. We recently secured a prime office space in Polson and are excited to open this new office in the coming months and expand into the Flathead Valley! 
Among other exciting new marketing campaigns we are implementing this year, we just launched a television/social media campaign featuring our Advisors, Brokers and Support Staff.  This campaign is aimed at driving traffic to our website and listings. Click here for a look at this new campaign.  

Market Update

Home sales in February began to recover after a slow January start. Through the end of February there were 245 sales in the Missoula/Bitterroot Valley, up 4% from this same time period last year.  The Flathead Valley had 212 sales, down .09% from last year.  Total sales volume for the Missoula/Bitterroot market was $74,786,941, up 4% with an average sales price of $305,252.  The Flathead Valley had a total sales volume of $85,417,849, up 28% with an average sales price of $402,914. 
Take a second to review the graphs below and please call me if you have any questions or would like more detailed information.  


Market Snapshot

Missoula/Bitterroot Valley
Luxury Home Sales up 26%
Total Homes Sales Up 40 %
Luxury homes sales were up 26% compared to this same time period last year with 24 homes sales. There was homes sales of $1,000,000+.  There are currently 35 luxury homes being reported as Pending/Under Contract.  
Flathead Valley
Luxury Home Sales Up 71%
Total Home Sales Down  .9%
Luxury homes sales in Flathead/Lake County grew 71%over the same time period last year with 36 sales, 13 of these had a sales price of $1,000,000+. There are currently 57 luxury homes being reported as Pending/Under Contract. 




All market information included is provided by the Montana Regional MLS.  

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