Is Lake County, MT a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lake County is a buyer's market

Buyer's
Market

Difference Since February 2023

Since last year, Lake County has remained a Buyer's 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

$513,000

$275/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$13,100(+2.6%)

Key Takeaway

Homes in Lake County have sold for 2.6% more than they did a year ago.

Summary: The median home sold price in Lake County was $513,000 in February 2024, up 2.6% from last year, and the median price per square foot was $275.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $275K$310K
+12.7%
2 $342.7K$340K
-0.8%
3 $479K$517.2K
+8.0%
4 $745K$650K
-12.8%
5+ $794.5K$592.5K
-25.4%

Summary: Lake County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.7%, 2 bedroom homes decreased by 0.8%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 25.4%.

Median Sold Price Compared To Nearby Counties

Missoula County
+3.3%
Lake County
+2.6%
Flathead County
0.2%

Housing Supply in Lake County, MT

How many homes are available in Lake County, MT?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
99107+8.1%

Summary: The Lake County real estate market had 107 homes for sale in February 2024, a 8.1% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 34
+33.3%
2 2016
-20.0%
3 3442
+23.5%
4 2729
+7.4%
5+ 1516
+6.7%

Summary: The Lake County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 6.7%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lake County, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in Lake County in February 2024, down by 22.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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

Feb 2023Feb 2024CHANGE
105 Days165 Days+56.5%

Summary: Homes in Lake County had an average of 165 days on market in Feb 2024, up by 56.5% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Lake County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 7 homes were sold in Lake County; 0% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 86% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 3 Days Ago

Newest Listings in Lake County, MT

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