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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