ANNUAL MARKET REPORT 2020 · 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 Listing Volume
13
Our Real Estate Professionals
The foregoing information was obtained from the Big Sky Country MLS 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
2020 BIG SKY
real estate trends UNITS sold 2016
316
2017
OUR TAKE ON THE MARKET To say 2020 was a record-setting year would be a gross understatement. The mass-exodus from urban communities to the quieter, more spacious places of the country drew an immense amount of attention to Montana. The interest in Big Sky left many Big Sky residents in awe as we watched inventory decline and the competition to purchase a property heat up. The gross sales volume more than doubled and the median sales price tried to keep up, also almost doubling from 2019 to 2020. From the mountain to the meadow, properties sold faster than they could be listed and you can see how that impacted our market by reviewing the detailed breakdown contained in this report. If you have any questions, we’re here to answer them. Enjoy! *All statistics exclude Yellowstone Club and Commercial sales
388
2018
397
2019
371
2020
535
ACTIVE listings 2016
434
2017
387
2018
291
2019
297
2020
183
$725,958,370
GROSS
sales volume IN BIG SKY
$335,376,169
$357,684,529
$264,777,333 $207,385,346
2016 2
2017
2018
2019
2020
2020 MARKET REPORT
2020 BIG SKY
real estate trends
AVERAGE sales price $842,654
$1,356,932
$964,109
$688,588
$656,282
See page 5 for average sales price by neighborhood.
2016
2017
2018
2019
2020
MEDIAN sales price
$850,000
$565,000 $565,000
$417,250 $358,500
2016
2017
2018
2019
2020
AVERAGE days on the market homes
condos/townhomes
land
151
137
272
DAYS
DAYS
DAYS
*All statistics have been taken from the Big Sky Country 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.
by price point 4% (9%) Under $199,000 18% (24%) $200,000 - $399,000 17% (18%) $400,000 - $599,000 9% (12%) $600,000 - $799,000 8% (11%) $800,000 - $999,000 14% (8%) $1,000,000 - $1,499,000
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.
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.
9% (6%) $1,500,000 - $1,999,000 9% (5%) $2,000,000 - $2,999,999 7% (3%) $3,000,000 - $3,999,999 5% (4%) $4,000,000 and Above 2019 percentages in parenthesis.
by neighborhood 10% (6%) Canyon 39% (41%) Meadow 13% (9%) Spanish Peaks Mountain Club 17% (14%) Moonlight Basin 21% (30%) Mountain 2019 percentages in parenthesis.
*All statistics have been taken from the Big Sky Country 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.
MOONLIGHT
2020 MARKET REPORT
basin
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$2,637,500
22
$78,440,000
$954.86
50
$107,362,539
$859.42
17
$30,777,252
$779,148
HOMES
$3,565,455
$2,847,573
$2,048,601
($2,062,500)
$2,303,985
(20)
($56,951,467)
($823.75)
$1,662,267
CONDOS/TOWNHOMES
2016
2017
2018
2019
2020
$2,147,251 $1,900,333
$2,012,500
$1,264,961
($1,875,000)
$1,047,798
(21)
($39,906,998)
($692.65)
$667,388
2016
2017
2018
2019
2020
LAND
$1,810,437
($950,000)
$1,071,667
2016
$1,150,000
$1,213,000
$1,165,000
2017
(11)
($10,867,500)
($779,921)
$987,955
2018
2019
2020 2019 percentages in parenthesis.
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5
BIG SKY, MONTANA
SPANISH PEAKS
mountain club
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
$3,937,500
26
$111,538,522 $1,000.68 ($52,921,793)
($836.65)
13
$39,775,000
$944.32
25
$32,255,000
$306,682
SALES VOLUME
PPSF or PPA
HOMES
$4,289,943
$3,528,116 $2,967,857
($3,400,000)
$2,885,846
(15)
$2,342,563
CONDOS/TOWNHOMES
2016
2017
2018
2019
2020
$3,059,615
$2,548,333
$2,850,000
N/A
(No Condo Sales)
$2,516,667 $2,257,333
2016
2017
2018
2019
(0)
(N/A)
(N/A)
2020
$935,525
LAND
$732,143
$583,000 $576,933
$579,400
($675,000)
(20)
($18,710,500)
($452,326)
$439,500
2016
2017
2018
2019
2020 2019 percentages in parenthesis.
6
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2020 MARKET REPORT
MOUNTAIN
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$2,750,000
13
$37,439,512
$609.45
$485,000
82
$62,547,245
$459.29
19
$15,557,000
$821,895
$3,125,000
HOMES
$3,119,959 $2,178,790 $1,762,912
($3,125,000)
(2)
($6,250,000)
($583.26)
$1,213,750
2016
2017
2018
2019
2020
CONDOS/TOWNHOMES
$783,978
$645,976 $603,562
$448,115
2016
($466,000)
$472,069
2017
2018
2019
(82)
($49,492,100)
($398.67)
2020
LAND
$818,789
$443,611 $451,311
$451,712
$625,000 ($407,500)
(26)
($11,744,500)
($247,194)
$296,180
2016
2017
2018
2019
2020 2019 percentages in parenthesis.
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BIG SKY, MONTANA
MEADOW
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$1,275,000
53
$80,750,607
$431.94
101
$63,577,950
$334.55
43
$24,733,000
$491,213
$1,762,912
HOMES
$1,523,596
($1,005,000)
$1,222,336
(24)
($26,395,500)
($384.12)
$1,099,813 $1,027,750
CONDOS/TOWNHOMES
2016
2017
2018
2019
2020
$629,485
$500,132 $525,177
$560,000 ($441,000)
$411,896 $371,215
2016
2017
2018
2019
(92)
($48,316,325)
($303.47)
2020
LAND
$575,186
$428,250
$410,709
$360,000 ($296,000)
$309,594
(16)
($8,893,400)
($491,875)
$216,541
2016
2017
2018
2019
2020 2019 percentages in parenthesis.
8
BIGSKYPUREWEST.COM • 406-995-4009
2020 MARKET REPORT
BIG SKY
canyon
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$967,500
24
$22,365,845
$340.73
28
$12,011,900
$72,573
HOMES
$1,339,900
$804,272
$871,795
$931,910
($799,500)
$800,363
2016
2017
2018
2019
(10)
($13,625,500)
($471.86)
2020
LAND
$1,104,111
$425,000 $244,500
$367,545
$428,996
($399,000)
(9)
($9,937,000)
($53,864)
$227,625
2016
2017
2018
2019
2020 2019 percentages in parenthesis.
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9
BIG SKY, MONTANA
neighborhood
Cowboy Heaven Cabins: 1 Cowboy Heaven: 13 Diamond Hitch: 3 Moonlight Mountain Homes: 7 Silvertip: 3 The Timbers: 1 Ulery’s Lakes: 3
SPANISH PEAKS MOUNTAIN CLUB
call for pricing
HOMES MOONLIGHT BASIN
CLOSED SALES by
Elkridge: 4 Highlands: 16
MOUNTAIN
Ranches: 1 Wildridge: 3 Wilderness Ridge: 1
10
MEADOW
Antler Ridge: 2 Aspen Groves: 9 Big Pine: 2 Grey Drake: 1 Grey Owl: 1 Meadow Village: 16 Moosewood: 1
Ousel Falls: 11 Skywood Preserve: 1 South Fork Meadows: 8 Spanish Peaks North: 2 Sweetgrass Hills: 5 Westfork: 3
CANYON
Beehive: 3 Cascade: 9
Beavercreek West: 1 Blackfoot Hills: 1 Cliff Manor: 1 Forest Service Cabins: 6 Karst: 1
Misc. Canyon Homes: 5 Parkview West: 2 Porcupine Park: 2 Ramshorn Estates: 3 San Marino: 2
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2020 MARKET REPORT
CONDOS/TOWNHOMES
LAND
Alpine Meadows: 2 Cowboy Heaven Luxury Suites: 5 Gateway: 18 Lodgeside: 4 Saddle Ridge: 10 Ulery’s Lakes: 12
Cowboy Heaven: 2 Diamond Hitch: 1 Jack Creek: 1 Overlook: 9 Ulery’s Lakes: 3
Elk Ridge: 2 Gallatin Preserve: 1 Ranches: 12
Homestead Cabins: 4 Inspiration Point: 2 Settlement Cabins: 7
Spring Creek: 4 Wildridge: 8 Wilderness Ridge: 5
Alpenglow: 3 Lone Moose Meadows: 1 Big Horn: 7 Mountain Lakes: 5 Black Eagle: 3 Powder Ridge: 10 Cascade Ridge: 2 Shoshone: 4 Cedar Creek: 1 Stillwater: 3 Hill: 19 Summit Hotel: 8 Homestead Chalets: 2 Village Center: 2 The Lodges at Elkhorn Creek: 4
MEADOW VILLAGE 45° North: 3
Hidden Village: 9
Aspen Court: 1
Lone Peak Townhomes: 1
Cottonwood Crossing: 3
Moose Ridge: 3
Blue Grouse: 1
MeadowView: 7
Crail Creek Club: 6
Morning Sun: 1
Deer Run: 4
Silverbow: 1
Crail Ranch: 1
Elevation 6000: 1
Pines: 1
Sky Meadow: 1
Essentia: 5
South Fork: 3 Spanish Peaks
Firelight Condos: 5
Spruce Cone: 2
Grey Wolf: 2
Yellowstone: 5
Firelight Chalets: 19 Glacier: 3
Mtn. Club: 5 Tamarack: 6
Beehive: 3 Cascade: 6 Ciel Drive: 1 Joy Drive: 1 Summit View: 2 Montana Club: 7 Antler Ridge: 7 Aspen Groves: 1 Grey Drake: 1 Greathorn Ranch: 2 Lost Trails: 1 Meadow Village: 10 Moondance: 1 North Fork: 1
Other: 1 Skywood: 1 South Fork: 5 Spanish Peaks North: 5 Stony Creek: 1 Sweetgrass Hills: 3 Yellow Mountain: 2
Bear Paw Ponds: 1 Beavercreek West: 4 Blackfoot Hills: 7 Buck Ridge Ranch: 1 Dudley Creek: 1
Elk Ridge Ranch: 4 Misc. Canyon Land: 2 Pessl Spur: 3 Porcupine Park: 1 Towering Pines: 3
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11
BIG SKY, MONTANA
2020 BIG SKY
real estate trends
HISTORICAL active listing volume $616,715,916 $563,483,919
$482,145,217
$470,562,065
2016
$455,512,850
2017
2018
2019
Noteable increases;
2020
Closed Sales Homes 86%
Condominiums 26% Land 44%
12
2020
list to sale
97.4%
BIGSKYPUREWEST.COM • 406-995-4009
2020 MARKET REPORT
YOUR TRUSTED EXPERTS FOR Big Sky REAL ESTATE.
JACKIE MILLER
LYNN MILLIGAN
MARY WHEELER
WILLIAM FEHER
Broker jackie@purewestproperties.com 406-539-5003
Broker mwheelerbigsky@gmail.com 406.539.1745
Broker lynnebrush@gmail.com 406-581-2848
Associate william@cascaderidge.com 406-600-0275
SANDY REVISKY Broker sandy@ownbigsky.com 406-539-6316
BRENNA KELLEHER Associate brennakelleher@gmail.com 406-581-3361
MICHAEL THOMAS Broker michael.bigsky@gmail.com 406-581-2400
MIRANDA WHEELER Associate mirandalwheeler@gmail.com 406-640-1655
The foregoing information was obtained from the Big Sky Country MLS 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
Big Sky Resort The Exchange (Formerly the Mountain Mall)
406.995.4009
www.bigskypurewest.com