See how the real estate in Western Montana performed in the 2nd Quarter of 2019, with information about total sales, days on market, average price, median price and more!
Buyers looking for the perfect luxury ranch, that billionaire’s take on American rural life, may have to hold out to get what they want.
Whether it’s sky-high in New York or in the Big Sky country of Montana, high-end properties seem to be hitting a soft patch: they’re harder to sell unless they come with an exclusivity where price matter less. But that means paying a premium for that perfect combination: from mountain views at sunset to proximity to well-stocked towns to wildlife or the cachet of neighbors.
While six of 38 ranches listed for sale at more than $10 million have been marked down in the past 90 days, there’s a limited supply of properties that cover the full range of features, according to Billings, Montana-based broker Hall and Hall.
“When you get all of those things working together, if you really want that, you have to pay up if it comes available,” said Hall and Hall managing director B Elfland, who goes by his first-name initial without a period.
That has some sellers betting that bigger is better. Morton Fleischer, chairman and co-founder of Store Capital Corp., is marketing his Arizona and Montana ranches together for $50 million, both listed by affiliates of Christie’s International Real Estate. One selling point, he said by phone, is the millions poured into the Scottsdale area by GoDaddy Inc.’s billionaire founder Bob Parsons.
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Sales of Flathead Lake waterfront real estate in 2018 broke all-time records for transactions and total volume.
According to a waterfront market report released by David Fetveit of PureWest Real Estate, 2018 saw 75 posted sales for just over $76 million in total volume.
The 2018 numbers include the December sale of Shelter Island estate on Flathead Lake, which featured a 22-acre island property, an 18,000-square-foot mansion and numerous outbuildings. It was listed for $78 million at one point. At the time of sale, the listing had dropped to $13.95 million but the final selling price was not disclosed.
The previous record year for waterfront sales around Flathead Lake was 2004, during which there were 71 transactions with just under $75 million in volume. That year there had been one $13.5 million sale.
Since 2004, the low mark in waterfront transactions was 2009, when total sales registered at around $20 million.
By area, Bigfork sales in dollar volume rose about two and a half times in one year, from $8.5 million in 2017 to more than $21 million in 2018. Property sales in the northwest area encompassing Lakeside, Somers and Rollings also more than doubled in dollar volume, from $14 million in 2017 to almost $31 million in 2018.
By HEIDI GAISER Daily Inter Lake
According to a recent CNN NewSource article Suburban McMansions are out. Ritzy, Remote Ranches Are In.
Welcome to Sundance Ranch in the stunning Ovando Valley. The ranch consists of 560 acres of pristine land that was saved from subdivision and stitched back together with much careful forethought and effort by its current owners. Over the last 20 years or so, Sundance Ranch has been meticulously cared for and restored to the healthy, thriving slice of paradise it is today. From the custom home with its rustic yet elegant finishes, caretakers quarters, guest quarters, bunk house, custom designed barn, shop, and more, you will know you have finally achieved the Montana dream. Not far from Missoula and yet worlds away. Creeks wind through the rolling landscape which is bordered by State & Forest Service lands with world class fishing & hunting literally out your back door.