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B I G

S K Y

M O N T A N A

R E A L E S TA T E 2 0 1 7

1

S T

Q U A R T E R

M A R K E T

U P D A T E

© PEAK PHOTOGRAPHY


OUR TAKE ON THE MARKET We hope that you enjoy our 1st Quarter Market Report in which we compare real estate sales activity in the first quarter of the current year to that of last year. January, February, March and the first few weeks of April comprise the majority of the very active Winter Season. June, July, August and September comprise the months of our bustling Summer Season. Total closed sales in the first quarter are up 20% from 2016. Total sales volume is up 27% from 2016 to 2017, and both average sales price and median sales price are up in 2017 over 2016. Land sales and condominium sales are both up in 2017, while single family home sales are down less than 1% over single family home sales in the first quarter of 2016. We attribute the .08% decrease in single family home sales to decreased single family home inventory. We are very optimistic that the Big Sky market overall will continue to appreciate through the year.

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

Š PEAK PHOTOGRAPHY

Sincerely, Your PureWest Christie’s International Real Estate of Big Sky Team


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

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

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 March 31st in 2016 and 2017.

January 1 - March 31 BIG SKY

2016

2017

Total Closed Sales

63

78

Total Gross Volume

$37,726,104

$51,283,712

Average Price

$598,827

$657,483

Median Price

$315,000

$412,500

Average % Sold Price to List Price

94%

92%

Average Days on the Market

289

276

Lowest Price

$87,500

$115,000

Highest Price

$4,687,500

$3,000,000 *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

1


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

C O M P A R E D

B Y

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

P R O P E R T Y

T Y P E

Comparison of real estate sales by property type in Big Sky, Montana from January 1st through March 31st in 2016 and 2017. Property types included are Single Family Homes, Condominiums and Land.

SINGLE FAMILY HOMES 2016

2017

2016

2017

Number of Properties Sold

13

12

32

41

Total Gross Volume

$20,229,374

$13,802,889

$12,741,630

$26,133,201

Mountain Property Sold

8

3

19

23

Meadow Property Sold

5

5

13

18

Canyon Property Sold

0

4

-

-

Average Price

$1,556,105

$1,150,240

$398,175

$637,395

Median Price

$1,050,000

$722,500

$302,250

$415,000

Lowest Price

$619,000

$350,000

$87,500

$115,000

Highest Price

$4,687,500

$3,000,000

$2,275,000

$2,500,000

Percentage of properties sold

in 2016 verses in 2017

2

CONDOMINIUMS

.08%

28% *Excludes Yellowstone Club, commercial, and Forest Service lease sales.


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

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

LAND 2016

2017

11

22

$3,040,840

$8,082,625

3

11

4

8

4

3

THE NUMBER OF LAND SALES in the first quarter

$276,440

$387,392

DOUBLED

$280,000

$300,000

2016 TO 2017

$161,000

$120,000

$600,000

$1,300,000

from

50% B I G S K Y P U R E W E S T. C O M

3


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

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

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

REAL ES TAT E.

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

4

Big Sky

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 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

© PEAK PHOTOGRAPHY


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PureWest Christie's | 2017 1st Quarter Real Estate Market Update  

Big Sky, Montana

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