2016 Year In Review Big Sky Market Watch

BIG SKY

MARKET WATCH YEAR IN REVIEW 2016 COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB

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Absarokee, Montana | MLS ID: 217841

1

Market Observations

3

Resort/Area Overview

3

Significant Sales

4-11

Pending Sales

Charts & Data

Closed Sales

Median Condo Sales Price

Inventory Levels

211 301 15 $

Million

$

MARKET OBSERVATIONS

Sales Vo lu m e

Tr a n s a c t i o n s

Million

MARKET REVIEW

H i g hest Sale

Cover Property Big Sky, Montana | Web ID: 217867 © MMVI Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. An Equal Opportunity Company. Equal Housing Opportunity.

Each Office Is Independently Owned And Operated. Source of all data contained in this report is the Gallatin Association of Realtors, Multiple Listing Service. Information is consider reliable but because it has been supplied by third parties, we cannot represent that it is accurate or complete, and it should not be relied upon as such. Consult your Big Sky Sotheby’s Int’l Realty sales associate for more information.

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Moonlight Pending/Sold - 2016 Pending: 8 Sold: Condos/Twnhm: 9 Homes: 21 Homesites: 4 New Development Pending: 5 New Development Sold: 8

Meadow Village Pending/Sold - 2016

Pending: 24 Sold: Condos/Twnhm: 94 Homes: 3 Homesites: 12 New Development Pending: 2 New Development Sold: 3

Big Sky Pending/Sold - 2016 Pending: 22 Sold: Condos/Twnhm: 72 Homes: 3 Homesites: 13 New Development Pending: 10 New Development Sold: 1

Yellowstone Club Pending/Sold - 2016

Pending: 0 Sold: Condos/Twnhm: 0 Homes: 1 Homesites: 2 New Development Pending: 0 New Development Sold: 0

Spanish Peaks Mountain Club Pending/Sold - 2016 Pending: 2 Sold: Condos/Twnhm: 3 Homes: 10 Homesites: 6 New Development Pending: 0 New Development Sold: 1

Gallatin Canyon Pending/Sold - 2016

Pending: 2 Sold: Condos/Twnhm: 0 Homes: 11 Homesites: 12 New Development Pending: 0 New Development Sold: 0

OUR SIGNIFICANT SALES

42 Low Dog Road, Big Sky Tallie Lancey, Broker - Represented the Buyer

3225 Crow King Road, Big Sky Carrie Radtke, Broker - Represented the Buyer

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MARKET DETAILS | ALL OF BIG SKY

All of Big Sky Total $300,000,000 1st Qtr Volume

2nd Qtr Volume

0 40 0 30

$225,000,000

0

20

124

117 0

10

$150,000,000

169

210

0

$39,965,150

$36,841,872

$75,000,000

$20,226,050 $17,593,400 $15,401,965 $0

$25,054,668

$10,795,000 2009

$27,150,399 $20,019,200 $16,857,302 2010

$25,188,550 $21,279,891 2011

$31,906,0

$26,242,2

$27,762,7

$16,750,2 2012

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MARKET DETAILS | ALL OF BIG SKY

l Sales Vol. and Number of Sales

e

075

250

700

3rd Qtr Volume

336

4th Qtr Volume

313

$89,549,094

292

301 $43,644,616

$75,517,225 $44,810,789

$84,422,496 $52,184,550

$44,759,906

$34,647,460 $58,926,384 $49,594,666

$37,575,402

$33,791,230

$40,960,785

$32,271,030

$42,586,900

$45,526,844

238 2013

2014

2015

2016

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Table 2 # OF SALES SALES VOLUME

AVG. SALE

MEDIAN SALE

Q1 2014

20

18,536,926

825,390

545,000

Q2 2014

22

32,011,500

1,394,575

997,500

Q3 2014

28

28,541,669

962,372

644,866

Q4 2014

20

63,394,130

2,554,333

1,625,000

Q1 2015

13

14,994,500

1,039,500

965,000

Q2 2015

13

19,235,500

1,238,682

1,200,000

BigQ3Sky, | Web ID: 218006805,024 2015 Montana 13 10,897,580

725,000

Q4 2015

26

39,774,837

1,241,980

1,179,554

Q1 2016

14

23,129,374

1,634,198

1,070,000

Q2 2016

13

18,446,000

1,309,636

1,025,000

Home Sales - 2016

AVERAGE SALES35,749,000 PRICE/SQ.1,528,762 FT. WAS $469 Q3 2016 22 1,277,000 34 HOMES13 SOLD12,699,000 OVER $1,000,000 AND 29 UNDER Q4 2016 924,455 875,000 Single Family Residential Quarterly Sales Data $70,000,000

$3,000,000

28

28 $52,500,000 21

20

22

$35,000,000

$0

$2,250,000

22

20

13

14

$17,500,000

26

13

13

14

13

13

$1,500,000

$750,000

7

0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 SALES VOLUME

AVG. SALE

MEDIAN SALE

$0

# OF SALES

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Table 2 # OF SALES

SALES VOLUME

AVG. SALE

MEDIAN SALE

Q1 2014

36

$16,300,859

$425,172

$305,000

Q2 2014

34

$22,693,884

$488,090

$367,500

Q3 2014

43

$20,079,081

$440,034

$273,000

Q4 2014

46

$15,797,964

$331,204

$285,000

Q1 2015

23

$12,116,530

$483,763

$359,900

Q2 2015

37

$19,066,666

$443,448

$300,000

Q3 2015

29

$15,027,500

$452,833

$390,000

Q4 2015

45

$25,612,388

$522,021

$325,000

Big Sky, Montana | Web ID: 217494

Condo Sales - 2016

Q1 2016 $12,356,630 $344,625 $300,000 AVERAGE SALES31PRICE FOR CONDOS IN THE MEADOW - $442,195 Q2 2016 20 $17,131,400 $335,000 $388,278 AVERAGE SALES PRICE FOR CONDOS ON THE MOUNTAIN - $473,726 Q3 2016

48

$21,985,496

$424,554

$323,750

Q4 2016

57

$26,852,116

$447,184

$350,300

Condo/Townhome Quarterly Sales Data $28,000,000

$600,000

57

60 $21,000,000

43

45

36 $14,000,000

$0

48

45

$450,000

37

34

31

29

30

$7,000,000

46

23

$300,000

20 $150,000

15

0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 SALES VOLUME

AVG. SALE

MEDIAN SALE

$0

# OF SALES

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Table 2 # OF SALES

SALES VOLUME

AVG. SALE

MEDIAN SALE

Q1 2014

14

6,123,000

364,833

272,000

Q2 2014

11

4,221,000

345,111

205,000

Q3 2014

11

3,563,800

268,311

185,000

Q4 2014 28 Big Sky, Montana | Web ID: 215308 10,357,000

339,423

250,000

5,160,000

217,882

195,000

11,292,500

410,326

330,000

Q1 2015

19

Q2 2015 25 Land Sales - 2016 Q3 2015

25

8,722,380

325,911

300,000

Q4 2015

19

9,695,000

355,882

325,000

Q4 2016

16

4,093,500

250,893

271,500

AVERAGE SALES PRICE IN THE MEADOW WAS $377,346 Q1 2016 11 3,040,840 258,316 280,000 AVERAGE SALES PRICE IN THE CANYON WAS $251,813 Q2 2016 10 6,384,500 528,063 323,750 AVERAGE SALES PRICE ON THE MOUNTAIN WAS $568,844 Q3 2016 23 26,688,000 551,048 325,000 Land Quarterly Sales Data $30,000,000

$600,000

28

28

25

25

23

$22,500,000 21

$15,000,000 14

$7,500,000

$0

19

$450,000

19 16

14 11

11

11

$300,000

10 $150,000

7

0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 Q4 2016 SALES VOLUME

AVG. SALE

MEDIAN SALE

$0

# OF SALES

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MARKET DETAILS | Q4: 2016

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

Under $500,000

60

$18,253,600

$304,227

Single Family

13

$12,699,000

$976,846

$500,001 to $1,000,000

16

$11,055,000

$690,938

Condo/Twnhm

57

$26,582,116

$471,090

$1,000,001 to $1,500,000

6

$6,864,016

$1,144,003

Land

16

$4,093,500

$255,844

$1,500,001 to $2,000,000

2

$3,125,000

$1,562,500

$2,000,001 to $2,500,000

2

$4,347,000

$2,173,500

86

$43,644,616

$507,469

$2,500,001 to $3,000,000 $3,000,001 to $3,500,000 $3,500,001 to $4,000,000 Over $4 Million RESIDENTIAL TOTAL:

TOTAL NUMBER OF TRANSACTIONS

TOTAL DOLLAR VOLUME $2,000,001 to $2,500,000

$2,000,001 to $2,500,000 $1,500,001 to $2,000,000 $1,000,001 to $1,500,000

$1,500,001 to $2,000,000

Under $500,000 $1,000,001 to $1,500,000

$500,001 to $1,000,000

Under $500,000 $500,001 to $1,000,000

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MARKET DETAILS | TOTALS 2015

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

Under $500,000

128

$104,190,091

$270,000

Single Family

50

$80,949,374

$1,557,695

$500,001 to $1,000,000

47

$33,606,863

$713,219

Condo/Twnhm

122

$51,473,526

$408,634

$1,000,001 to $1,500,000

16

$19,389,374

$1,204,598

Land

44

$36,113,340

$499,937

$1,500,001 to $2,000,000

8

$14,650,000

$1,854,167

$2,000,001 to $2,500,000

4

$9,325,000

$2,325,000

$2,500,001 to $3,000,000

4

$11,095,000

$2,773,750

$3,000,001 to $3,500,000

4

$13,050,000

$3,262,500

$3,500,001 to $4,000,000

2

$7,225,000

$3,612,500

Over $4 Million

2

$20,900,000

$10,450,000

RESIDENTIAL TOTAL:

215

$233,431,328

$632,826

TOTAL NUMBER OF TRANSACTIONS

TOTAL DOLLAR VOLUME

$3,500,001 to $4,000,000 $3,000,001 to $3,500,000 Over $4 Million $2,500,001 to $3,000,000

$3,000,001 to $3,500,000 $3,500,001 to $4,000,000 $2,500,001 to $3,000,000

$2,000,001 to $2,500,000 $1,500,001 to $2,000,000

$2,000,001 to $2,500,000

$1,000,001 to $1,500,000

$1,500,001 to $2,000,000 Under $500,000

$1,000,001 to $1,500,000 $500,001 to $1,000,000

Under $500,000

$500,001 to $1,000,000

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MARKET DETAILS | TOTALS 2016

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

Under $500,000

170

$47,358,103

$278,577

Single Family

63

$93,548,374

$1,486,482

$500,001 to $1,000,000

77

$53,635,226

$696,561

Condo/Twnhm

178

$84,295,021

$473,568

$1,000,001 to $1,500,000

24

$28,342,406

$1,180,934

Land

59

$39,796,840

$674,523

$1,500,001 to $2,000,000

10

$17,775,000

$1,777,500

$2,000,001 to $2,500,000

6

$13,672,000

$2,278,667

$2,500,001 to $3,000,000

4

$11,095,000

$2,773,750

$3,000,001 to $3,500,000

4

$13,050,000

$3,262,500

$3,500,001 to $4,000,000

2

$7,225,000

$3,612,500

Over $4 Million

3

$25,587,500

$8,529,167

RESIDENTIAL TOTAL:

300

$217,740,235

$725,801

TOTAL NUMBER OF TRANSACTIONS

$3,500,001 to $4,000,000 $3,000,001 to $3,500,000 Over $4 Million $2,500,001 to $3,000,000

TOTAL DOLLAR VOLUME $3,000,001 to $3,500,000

$2,000,001 to $2,500,000

$3,500,001 to $4,000,000

$1,500,001 to $2,000,000

$2,500,001 to $3,000,000

$1,000,001 to $1,500,000

Under $500,000 $2,000,001 to $2,500,000

$500,001 to $1,000,000

Under $500,000

$1,500,001 to $2,000,000

$500,001 to $1,000,000

$1,000,001 to $1,500,000

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