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ANNUAL MARKET REPORT 2018 · Big Sky, Montana


THANK YOU TO OUR CLIENTS


CONTENTS

02

Big Sky Real Estate Trends

04

Closed Transactions

05

Closed Sales: Moonlight Basin

06

Closed Sales: SPMC

07

Closed Sales: Mountain

08

Closed Sales: Meadow

09

Closed Sales: Canyon

10

Closed Sales by Neighborhood

12

Historical Active List Volume

13

Our Real Estate Professionals

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 availablitiy are subject to change without notice. Statistics do not include Yellowstone Club sales.


BIG SKY, MONTANA

2018 BIG SKY

real estate trends UNITS sold 2011

216

2012

220

2013

307

2014

323

2015

306

2016

316

2017

OUR TAKE ON THE MARKET

388

2018

We saw another amazing year of growth here in Big Sky. In 2018, the gross sales volume climbed into the $300 million range topping out at $335,376,169 with 397 closed units. Our active listing volume has continued to decrease hitting its lowest mark since 2009! The average sales price rose from $688,588 in 2017 to $842,654 in 2018, and the median sales price has also risen from $417,250 in 2017 to $565,000 in 2018.

397

ACTIVE listings

2011

536

2012

481

2013

420

2014

415

2015

445

2016

434

2017

387

2018

291

$335,376,169

$264,777,333

GROSS

sales volume

$206,873,813

$207,385,346 $182,376,331

IN BIG SKY

$121,850,045 $100,814,181

$100,253,263

2011

2012

2

2013

2014

2015

2016

2017

2018


2018 MARKET REPORT

2018 BIG SKY

real estate trends

AVERAGE sales price $640,476

$455,696

$656,282

$842,654

$688,588

$596,001

$396,905 See page 5 for average sales price by neighborhood.

2012

2013

2014

2015

2016

2017

2018

MEDIAN sales price

$565,000

$417,250

$292,450

$280,000

2012

2013

$364,537

$366,000

$358,500

2014

2015

2016

2017

2018

AVERAGE days on the market homes

condos/townhomes

land

173

134

376

DAYS

DAYS

DAYS

*All statistics have been taken from the local MLS and while deemed reliable, are not guaranteed. **If you are currently working with another agent, this review is not intended to be a solicitation.

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3


CLOSED

Neighborhoods of Big Sky

transactions

MOONLIGHT BASIN

The vacation community you will want to call home - or your home away from home. At Moonlight Basin recreation is limitless with skiing, snowshoeing, golfing, hiking, mountain biking, horseback riding, and so much more.

SPANISH PEAKS MOUNTAIN CLUB

Summertime golf access becomes winter ski access at the Spanish Peaks Mountain Club. This private ski and golf community offers you the perfect mountain lifestyle.

MOUNTAIN

Own on the Mountain and be at the beck and call of all things recreational. From hiking to skiing to horseback riding, the activities are abundant. In the summer take an expedition to the top of Lone Peak with Big Sky Resort, or ski the Montana Coldsmoke during the winter months.

MEADOW

If you love year-round Big Sky activities, the Meadow may be the perfect place for you. Majestic views and community activities are right outside your door and you’re only minutes from the mountain and river activities.

by price point 11% (17%) Under $199,000 25% (29%) $200,000 - $399,000 25% (29%) $400,000 - $599,000 17% (17%) $600,000 - $799,000 15% (10%) $800,000 - $999,000 8% (4%) $1,000,000 - $1,499,000 7% (11%) $1,500,000 - $1,999,000 8% (4%) $2,000,000 and up 2017 percentages in parenthesis.

by neighborhood 10% (9%) Canyon 42% (45%) Meadow 7% (6%) Spanish Peaks Mountain Club

CANYON

Gallatin Canyon’s defining feature is the magnificent Gallatin River. Scenic and tranquil yet offering many recreational activities, canyon area real estate speaks to those seeking the quintessential Montana property.

10% (9%) Moonlight Basin 20% (28%) Mountain 2017 percentages in parenthesis.

*All statistics have been taken from the local MLS and while deemed reliable, are not guaranteed. **If you are currently working with another agent, this review is not intended to be a solicitation.


2018 MARKET REPORT

MOONLIGHT

basin

AVERAGE SALES PRICE

MEDIAN SALES PRICE

NUMBER OF TRANSACTIONS

SALES VOLUME

$1,725,000

17

$39,167,753

15

$15,716,965

5

$6,065,000

$2,303,985

HOMES

$2,048,601 $1,717,588 $1,662,267

($1,517,500)

$1,575,913

$1,174,142

(18)

($36,167,753)

$995,260

2012

2013

2014

2015

2016

2017

2018

CONDOS/TOWNHOMES

$1,264,961

$1,016,000 $1,047,798

$981,356 ($1,175,000)

$851,250

(14)

($17,709,451)

$800,084

$667,388

$622,421

2012

2013

2014

2015

2016

2017

2018

$1,213,000

LAND

$1,165,000

$1,045,000 $1,071,667

$900,000 ($1,122,500)

$975,000

$859,166

(6)

($6,430,000)

$771,500

2012

2013

2014

2015

2016

2017

2018 2017 percentages in parenthesis.

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5


BIG SKY, MONTANA

SPANISH PEAKS

mountain club

AVERAGE SALES PRICE

MEDIAN SALES PRICE

NUMBER OF TRANSACTIONS

SALES VOLUME

$2,471,000

13

$37,516,000

3

$7,550,000

15

$8,654,000

$3,234,285

HOMES

$2,967,857

$2,463,750

$2,885,846

($3,947,500)

$2,342,563

$1,915,000

(8)

($18,740,500)

$1,667,500

2012

2013

2014

2015

2016

2017

2018

CONDOS/TOWNHOMES

$2,548,333 $2,516,667 $2,257,571 $2,257,333

$2,650,000

$1,675,137

($2,500,000)

($7,645,000)

(3)

$1,223,333 $987,500

2012

2013

2014

2015

2016

2017

2018

$732,143

LAND

$543,611 $576,933 $398,750

$575,000

$439,500

($630,500)

$273,500

(14)

($10,250,000)

$188,730

2012

2013

2014

2015

2016

2017

2018 2017 percentages in parenthesis.

6

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2018 MARKET REPORT

MOUNTAIN

village

AVERAGE SALES PRICE

MEDIAN SALES PRICE

NUMBER OF TRANSACTIONS

SALES VOLUME

$1,997,500

8

$17,430,319

$520,000

96

$61,367,754

19

$8,574,900

$2,178,790

HOMES

$1,714,103

($1,725,000)

$1,213,750

$1,116,166

$970,750

$1,762,912

($12,340,386)

(7)

$822,215

2012

2013

2014

2015

2016

2017

2018

CONDOS/TOWNHOMES

$645,976

$472,069

$441,433 $448,115

($269,000)

(77)

($36,349,296)

$381,908

$327,622

$273,229

2012

2013

2014

2015

2016

2017

2018

$451,311 $443,611

LAND

$348,343 $327,214

$365,000 ($350,000)

$296,180 $224,166

(18)

($7,985,000)

$177,500

2012

2013

2014

2015

2016

2017

2018 2017 percentages in parenthesis.

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BIG SKY, MONTANA

MEADOW

village

AVERAGE SALES PRICE

MEDIAN SALES PRICE

NUMBER OF TRANSACTIONS

$795,000

33

$40,337,092

88

$44,511,710

42

$17,249,776

SALES VOLUME

HOMES

$1,762,912

$1,027,750

$976,903

$1,222,336

$781,450

($1,725,000)

(7)

($12,340,386)

$826,370 $549,841

2012

2013

2014

2015

2016

2017

2018

CONDOS/TOWNHOMES

$500,132

$411,896

$371,215

$415,000

$330,070

($377,500)

$335,097

(88)

($36,246,855)

$268,289 $225,594

2012

2013

2014

2015

2016

2017

2018

$428,250

LAND

$410,709

$260,000 ($168,000)

$252,647

$241,052

(51)

($11,040,325)

$250,943 $216,541

$218,018

2012

2013

2014

2015

2016

2017

2018 2017 percentages in parenthesis.

8

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2018 MARKET REPORT

BIG SKY

canyon

AVERAGE SALES PRICE

MEDIAN SALES PRICE

NUMBER OF TRANSACTIONS

SALES VOLUME

$735,000

22

$19,179,500

$966,478 $871,795

HOMES

$800,363 $804,272

$796,760 $674,990

($773,500)

(18)

($14,476,900)

$246,859

2012

2013

2014

2015

2016

2017

2018 $367,545

LAND

$312,000

$345,000 ($250,000)

$249,093 $244,500

$241,877

11 (15)

$4,043,000 ($3,667,500)

$227,625 $188,821

2012

2013

2014

2015

2016

2017

2018 2017 percentages in parenthesis.

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9


BIG SKY, MONTANA

neighborhood

Cowboy Heaven Cabins: 2 Diamond Hitch: 1 Moonlight Mountain Homes: 7 Silvertip: 2 The Timbers: 5

SPANISH PEAKS MOUNTAIN CLUB

call for pricing

HOMES MOONLIGHT BASIN

CLOSED SALES by

10

MOUNTAIN

Beehive Basin: 1 Cascade: 6 Sleeping Bear: 1

MEADOW

Antler Ridge: 1 South Fork Meadows: 11 Aspen Groves: 2 Spanish Peaks North: 2 Meadow Village: 9 Sweetgrass Hills: 4 Misc. Meadow Homes: 2 Westfork: 2

CANYON

Highlands: 8 Wildridge: 2 Elkridge: 2 Ski Tip: 1

Beavercreek: 3 Karst: 3 Beavercreek South: 1 Misc. Canyon Homes: 4 Big EZ: 1 Parkview West: 1 Castle Rock: 1 Ramshorn View Estates: 8

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2018 MARKET REPORT

CONDOS/TOWNHOMES

LAND

Cowboy Heaven Luxury Suites: 1 Saddle Ridge: 7 Ulery’s Lakes: 7

Cowboy Heaven: 2 High Camp: 2 Jack Creek: 1 Ulery’s Lakes: 1

Elk Ridge: 4 Ranches: 7

Homestead Cabins: 2 Settlement Cabins: 1

Ski Tip Glade: 2 Wildridge: 1 Wilderness Ridge: 1

Alpenglow: 2 Lodges @ Elkhorn Creek: 1 Arrowhead: 4 Lone Moose Meadows: 1 Beaverhead: 5 Mountain Lakes: 10 Big Horn: 8 Powder Ridge: 8 Black Eagle: 3 Shoshone: 4 Cascade Ridge: 3 Skycrest: 3 Cedar Creek: 8 Stillwater: 4 Hill: 22 Summit Hotel: 2 Homestead Chalets: 4 Village Center: 4 MEADOW VILLAGE Aspen Court: 2 Morning Sun: 6 Blue Grouse Hills: 1 Park: 1 Crail Creek Club: 1 The Pines: 4 Cottonwood Crossing: 2 Pine Ridge: 3 Deer Run: 6 Silverbow: 4 Elevation 6000: 3 South Fork: 2 Essentia: 2 Spanish Peaks Club: 3 Firelight: 12 Spruce: 1 Glacier: 3 Townhomes @ Crail Ranch: 2 Grey Wolf: 3 Yellowstone: 6 Hidden Village: 7 Under Par: 2 Lone Peak Townhomes: 4 45 Degrees North: 7

Cascade: 14 Ciel Drive: 1 Summit View: 2

Antler Ridge: 6 Aspen Groves: 4 Gallatin Highlands: 1 Greathorn Ranch: 1 Meadow Village: 5 Moondance: 2

Northfork: 1 Ousel Falls: 5 South Fork: 9 Spanish Peaks North: 2 Stony Creek: 1 Sweetgrass Hills: 4

Misc. Canyon Land: 3

Bear Paw Ponds: 1 Beavercreek: 1 Beavercreek South: 1 Buck Ridge Ranch: 1 Dudley Creek: 1 Elk Ridge Ranch: 1 Porcupine Park: 1 Ramshorn View Estates: 1

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11


BIG SKY, MONTANA

2018 BIG SKY

real estate trends

HISTORICAL active listing volume $679,947,055 $636,016,318 $616,715,916

$482,145,217

$525,229,984 $470,562,065

2013

2014

2015

2016

2018 listing count was the lowest since 2006. Average listing count

in 2018 was 336, down from 431 in 2017.

12

BIGSKYPUREWEST.COM • 406-995-4009

2017

2018

2017

list to sale

97.2

%


2018 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

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.

BIGSKYPUREWEST.COM • 406-995-4009

13


LOCATIONS Town Center 88 Ousel Falls Road, Suite B Big Sky, MT 59716 406.995.4009

Big Sky Resort Mountain Mall Adjacent to Hummer’s 406.995.5583

www.bigskypurewest.com

Profile for Big Sky PureWest

2018 Annual Market Report  

A look at 2018 Big Sky Real Estate trends

2018 Annual Market Report  

A look at 2018 Big Sky Real Estate trends

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