Three-and-a-half billion dollars.
That's how much tourists spent in Montana in 2018. That's a big boost in spending and it's benefiting businesses all across the Treasure State.
Newly-released numbers from the University of Montana's Institute for Tourism and Recreation Research shows the number of people visiting Montana from out-of-state remained relatively the same.
But, they're spending more during their travels. In fact, they are spending 10-percent more than in 2017. Associate Director Jeremy Sage says, people are choosing to spend their extra money on experiences, like guided rafting trips, rather than souvenirs, and those experiences tend to cost more.
Glacier and Yellowstone National Parks are a big draw for visitors, he says. Without those iconic parks bringing recognition to Montana, our economy would not be bolstered nearly as much.
And the numbers prove it.
In Glacier National Park, people spent one-point-two billion dollars, supporting one-point-five billion dollars in economic activity.
The one-point-one billion dollars spent in Yellowstone National Park supported one-point-four billion dollars in economic activity.
If you break down the numbers by county, Gallatin County received more than 814-million dollars in tourist spending, followed by Flathead County at 614-million dollars, Missoula County 307-million, and Yellowstone County 270-million dollars.
Median means "in the middle". So, with regard to list price, this means exactly half of homes listed are above this price and exactly half are below.
The Northwest Montana Association of Realtors (NMAR) reports that the median home price in Whitefish in 2019 is $529,000; higher than 2018's median price of $467,000.
The average price is the total list price of all homes divided by the number of homes listed.
NMAR reports the average list price of homes in Whitefish in 2019 is $928,573; slightly higher than $926,139 in 2018.
Absorption rate is a term most commonly used in the real estate market to evaluate the rate at which available homes are sold in a specific market during a given time period. It is calculated by dividing the average number of sales per month by the total number of available homes.
Whitefish has an 8% absorption rate in 2019; unchanged from 2018.
Sales in the Whitefish area in 2019 have an average price of $618,370; much higher than $534,232 in 2018 as reported by NMAR.
The median sale price in 2019 is $438,900; compared to $380,000 in 2018.
With two months left in the year, the number of residential sales already surpasses last year with 329 sales; compared to 265 in 2018.
At RE/MAX Rocky Mountain Real Estate, our agents are committed to serving all your real estate needs.
Stop by our office anytime to discuss the Whitefish market, and find the best option for your investment dollars. We can be reached at 406.862.9000.
Whitefish Mountain Resort is scheduled to open December 6th, 2019.
Plan your visit and purchase lift tickets here. Check out the snow on the many webcams. Whitefish Mountain Resort offers many other activities for the whole family to enjoy: sledding, sliding, lessons, daycare, dining and more.
Each office is independently owned and operated.
Brian Murphy is a licensed real estate broker in northwest Montana, specializing in Montana ranches for sale and large tracts of land for sale in Montana. Murphy Ranch and Land provides buyers and sellers with outstanding real estate service in the cities of Whitefish, Kalispell, Columbia Falls and Bigfork, as well as throughout the state of Montana. Brian has Whitefish Montana real estate listings of homes, land, and commercial properties for sale in the Whitefish area.
RE/MAX Rocky Mountain Real Estate, 307 Spokane Avenue, Suite 100, Whitefish, MT 59937