Flathead housing market on the rise
Updated On: Nov 15 2013 06:41:36 PM MST
The housing market in the Flathead has been growing, and even bigger numbers could be on the horizon, after tough times during the recession.
Since the recession in 2007, the housing market nationwide saw numbers drop. Flathead County saw changes firsthand, as the median home values dropped $18,000 from 2007 to 2012.
Recently, that trend has changed.
"It's a good market, it's a healthy market," said Bill Leininger, President of the Northwest Montana Association of Realtors.
This year real estate agencies are reporting they've already beaten 2012's numbers. They've sold over 50 units more this year, with a month and a half left to go.
The average prices homes have been sold for have also increased. They're up $20,000 from 2012.
Leininger says just a few years ago, the market was flooded with foreclosures and short sales. He says those sales had a huge impact of housing values. Now that they're past them, the market is recovering.
"We've worked through that market and even those made up, depending on what price range from 10 to 30 percent of the market, they had a huge influence on pricing," said Leininger.
With population projections and data online that expect to see a steady increase in growth in the Flathead, Leininger believes things could get even better.
"I think pretty much everyone's feeling pretty positive about where we're at and where we're going," he said.