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B I G S K Y, M O N T A N A

2 0 1 7 Q U A R T E R LY M A R K E T R E P O R T

OUR TAKE ON THE MARKET 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 summer season is historically our busiest selling season, which is surprising to many people. For example, when comparing January-April of 2017 (winter season) to June-September of 2017 (summer season), sales were up 21% in the summer season. The market, overall, in Big Sky is up in 2017 when compared to 2016 and 2015. Total closed sales in the first three quarters were up from 225 in 2016 to 288 in 2017. Total sales volume is up $32,000,000+ from 2016 to 2017. While the average sales price dropped in 2017 when compared to 2016, the median sales price has increased to the highest point in years. Home sales, condominium sales, and land sales are all up in 2017 when compared to 2016. In fact, land sales have more than doubled in 2017 when compared to sales in 2016! Considering the current market statistics, we are very optimistic that the Big Sky market will continue to appreciate throughout the 2017-2018 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 Professionals at PureWest, Christie’s International Real Estate | Big Sky

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The foregoing information was obtained from the Big Sky County Multiple Listing Service and while deemed reliable is not guaranteed. Independent investigation before B I and G Savailability K Y P U Rsubject EWE T. C O M • notice. 4 0 6Statistics - 9 9 5 do - 4not 0 0include 9 purchase is recommended. Price toSchange without Yellowstone Club sales


B I G S K Y, M O N T A N A

2 0 1 7 Q U A R T E R LY M A R K E T R E P O R T

M A R K E T

U P D A T E

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Q U I C K

S T A T S

A side-by-side comparison of real estate sales in Big Sky, Montana from January 1st through September 30th in 2015, 2016, and 2017.

January 1 - September 30* BIG SKY

2015

2016

2017

Total Closed Sales

215

225

2017 288

Total Gross Volume

$120,184,106

$161,011,809

$193,286,847

Average Price

$558,995

$715,608

$671,308

Median Price

$350,000

$368,000

$409,500

Average Days on the Market

236

216

242

Residential Average Price Per Square Foot

$287.49

$322.87

$338.65

Residential Median Price Per Square Foot

$243.48

$262.41

$292.87

Lowest Price**

$60,000

$87,500

$89,500

Highest Price

$5,100,000

$15,000,000

$3,800,000

*Excludes Yellowstone Club and Commercial sales. **Lowest Price does not include Forest Service Cabins or Fractional Ownership. 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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B I G S K Y, M O N T A N A

2 0 1 7 Q U A R T E R LY M A R K E T R E P O R T

SINGLE FAMILY HOMES*

COMPARED BY

PROPERTY TYPE Comparison of real estate sales by property type in Big Sky, Montana from January 1st through September 30 th in 2015, 2016, and 2017. Property types included are Single Family Homes, Condominiums and Land.

2015

2016

2017

Number of Sales

39

48

57

Total Gross Volume

$45,127,580

$73,774,374

$79,579,286

Mountain Property Sold

14

23

24

Meadow Property Sold

20

18

21

Canyon Property Sold

5

7

12

Average Price

$1,157,117

$1,536,966

$1,396,128

Median Price

$825,000

$1,060,000

$1,200,000

Average Days On Market

210

224

266

Average Price Per Square Foot

$359.05

$446.87

$417.00

Median Price Per Square Foot

$288.89

$410.83

$340.79

Lowest Price**

$362,320

$280,000

$340,000

Highest Price

$5,100,000

$4,687,500

$3,800,000

*Excludes Yellowstone Club and Commercial sales. **Lowest Price does not include Forest Service Cabins or Fractional Ownership.

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B I G S K Y, M O N T A N A

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LAND*

CONDOMINIUMS* 2015

2016

2017

2015

2016

2017

93

122

143

68

41

83

$43,733,146

$50,505,205

$79,378,986

$23,489,880

$16,963,340

$31,354,575

39

64

75

20

13

31

54

58

68

41

21

41

-

-

-

7

7

11

$470,248

$413,977

$555,098

$345,439

$413,740

$377,766

$340,000

$310,000

$385,000

$275,000

$282,000

$230,000

167

173

160

300

286

363

$254.41

$255.71

$314.47

-

-

-

$238.85

$242.86

$277.77

-

-

-

$60,000

$87,500

$115,000

$106,000

$116,000

$89,500

$2,700,000

$2,350,000

$3,000,000

$1,350,000

$2,000,000

$2,800,000

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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B I G S K Y, M O N T A N A

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Big Sky

Y O U R TRU STED EX PE RT S FO R

JACKIE MILLER

LYNN E. MILLIGAN

SANDY REVISKY

406-539-5003

406-581-2848

406-539-6316

Broker jackie@purewestproperties.com

MICHAEL THOMAS Broker michael.bigsky@gmail.com

406-581-2400

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REAL ES TAT E.

Broker lynnebrush@gmail.com

MARY WHEELER

Broker mwheelerbigsky@gmail.com

406-539-1745

Broker sandy@ownbigsky.com

WILLIAM FEHER

BRENNA KELLEHER

406-600-0275

406-581-3361

Associate william@cascaderidge.com

Associate brenna@purewestmt.com

The foregoing information was obtained from the Big Sky County 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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PureWest Christie's | 2017 3rd Quarter Real Estate Market Update  

Big Sky, Montana

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