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BIG SKY ∙ MONTANA

R E A L E S TAT E 2018 3rd QUARTER MARKET REPORT


O U R TAK E O N T H E MAR K E T We hope you enjoy our 3rd quarter Market Report in which we compare real estate sales activity in the three quarters of the current year to previous years. January, February, March and April comprise the majority of our very active winter seasons. June, July, August and September comprise the months of our bustling summer season. The market in Big Sky is up in 2018 when compared to 2017 and 2016, both of which were very strong years. In fact, the only numbers that aren’t up are our inventory levels and the average “Days on the Market.” Inventory in Big Sky hasn’t been this low since 2006, and the Average Days on the Market is down from 242 at this time last year to 188 this year. Total closed sales in the first three quarters were up from 288 in 2017 to 294 in 2018. In addition, total sales volume is up almost $67,000,000 from 2017 to 2018, and average sales price and median sales price have both increased as well. Considering the current market statistics, we are very optimistic that the Big Sky market will continue to appreciate throughout the 2018-2019 winter season. With the low inventory, now is a great time to list your property. Thinking of a purchase? There are still deals to be had for the savvy buyer working with the right real estate professional. We look forward to being the Big Sky Agents you choose when buying or selling a property in Big Sky. Sincerely, Your Team at PureWest Christie’s International Real Estate of Big Sky

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The foregoing information was obtained from the Southwest Montana Multiple Listing Service and while deemed reliable is not guaranteed. Independent investigation before purchase is recommended. Price and availability subject to change without notice. Statistics do not include Yellowstone Club sales.


BI G S KY, M O N TA N A

2018 3rd QUARTER MARKET REPORT

M A R K E T

U P D A T E

Q U I C K

S T A T S

A side-by-side comparison of all real estate sales in Big Sky, Montana from January 1st through September 30th in 2016, 2017, and 2018.

January 1 - September 30 BIG SKY

2016

2017

2018

Total Closed Sales

225

288

294

Total Gross Volume

$161,001,809

$193,286,847

$260,053,000

Average Price

$715,608

$671,608

$725,283

Median Price

$368,000

$409,500

$544,500

Average % Sold Price to List Price

95%

96%

97%

Average Days on the Market

216

242

188

Lowest Price

$87,500

$89,500

$116,000

Highest Price

$15,000,000

$3,800,000

$4,950,000

*Excludes Yellowstone Club sales

B I G S K Y P U R E W E S T. C O M • 4 0 6 - 9 9 5 - 4 0 0 9

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SINGLE FAMILY HOMES © PEAK PHOTOGRAPHY

2016

2017

2018

C O M PA R E D BY PROPERTY TYPE

Number of Properties Sold

48

57

66

Total Gross Volume

$73,774,374

$79,579,286

$108,434,072

Comparison of real estate sales by property type in Big Sky, Montana from January 1st through September 30th in 2016, 2017, and 2018. Property types included are Single Family Homes, Condominiums and Land.

Mountain Properties Sold

23

24

28

Meadow Properties Sold

18

21

23

Canyon Properties Sold

7

12

15

Average Price

$1,536,966

$1,396,128

$1,642,940

Median Price

$1,060,000

$1,200,000

$1,410,000

Average Days on the Market

224

266

172

Average Price Per Square Foot

$446.87

$417.00

$493.90

Median Price Per Square Foot

$410.83

$340.83

$444.14

Lowest Price

$280,000

$340,000

$225,000

Highest Price

$4,687,500

$3,800,000

$4,950,000

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B I G S K Y P U R E W E S T. C O M • 4 0 6 - 9 9 5 - 4 0 0 9


CONDOMINIUMS

LAND

2016

2017

2018

2016

2017

2018

112

143

151

41

83

70

$50,505,205

$79,378,986

$91,292,898

$16,963,340

$31,354,575

$34,568,230

64

75

79

13

31

28

58

68

72

21

41

36

-

-

-

7

11

6

$413,977

$555,098

$604,589

$413,740

$377,766

$491,403

$310,000

$385,000

$420,000

$282,000

$230,000

$335,750

173

160

123

286

363

347

$255.71

$314.47

$349.50

-

-

-

$242.86

$277.77

$302.15

-

-

-

$87,500

$115,000

$116,000

$116,000

$89,500

$155,000

$2,350,000

$3,000,000

$3,000,000

$2,000,000

$2,800,000

$2,950,000

*Excludes Yellowstone Club, Commercial, and Forest Service Leases sales.

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BI G S KY, M O N TA N A

2018 3rd QUARTER MARKET REPORT

YOUR TRUSTED EXPERTS FOR Big Sky REAL ESTATE.

JACKIE MILLER

Broker jackie@purewestproperties.com 406-539-5003

MICHAEL THOMAS Broker michael.bigsky@gmail.com 406-581-2400

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LYNN MILLIGAN Broker lynnebrush@gmail.com 406-581-2848

MARY WHEELER

Broker mwheelerbigsky@gmail.com 406.539.1745

SANDY REVISKY Broker sandy@ownbigsky.com 406-539-6316

WILLIAM FEHER

Associate william@cascaderidge.com 406-600-0275

BRENNA KELLEHER Associate brennakelleher@gmail.com 406-581-3361

The foregoing information was obtained from the Southwest Montana Multiple Listing Service and while deemed reliable is not guaranteed. Independent investigation before purchase is recommended. Price and availability subject to change without notice. Statistics do not include Yellowstone Club sales.


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I came, I saw, I stayed.

2018 3rd Quarter Market Report  

A look into the real estate number of the first three quarters of 2018 in Big Sky, MT.

2018 3rd Quarter Market Report  

A look into the real estate number of the first three quarters of 2018 in Big Sky, MT.

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