BIG SKY
MARKET WATCH Q1 2017 COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB
Camp West Fork | MLS ID: 215816
Q1 MARKET REVIEW
Q1 MARKET OBSERVATIONS Q1 2017 compared to Q1 2016
Market Observations
3
Resort/Area Overview
3
Significant Sales
48
Q 1 Sa l es Vo lume
Closed Sales
Median Condo Sales Price
Inventory Levels
75 3.0 Units
$
Charts & Data
Million
4-11
Pending Sales
Q 1 Tr a n s a c t i o n s
$
Million
1
Q1 H i g hest Sale
Cover Property Big Sky, Montana | Web ID: 215827 © 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 - Q1 2017 Pending: 14 Sold: Condos/Twnhm: 2 Homes: 3 Homesites: 1 New Development Pending: 9 New Development Sold: 1
Meadow Village Pending/Sold - Q1 2017
Pending: 24 Sold: Condos/Twnhm: 18 Homes: 4 Homesites: 6 New Development Pending: 16 New Development Sold: 1
Big Sky Pending/Sold - Q1 2017 Pending: 19 Sold: Condos/Twnhm: 19 Homes: 0 Homesites: 6 New Development Pending: 9 New Development Sold: 3
Yellowstone Club Pending/Sold - Q1 2017
Pending: 0 Sold: Condos/Twnhm: 0 Homes: 0 Homesites: 1 New Development Pending: 0 New Development Sold: 0
Spanish Peaks Mountain Club Pending/Sold - Q1 2017 Pending: 4 Sold: Condos/Twnhm: 2 Homes: 1 Homesites: 3 New Development Pending: 1 New Development Sold: 0
Gallatin Canyon Pending/Sold - Q1 2017
Pending: 4 Sold: Condos/Twnhm: 0 Homes: 4 Homesites: 3 New Development Pending: 0 New Development Sold: 0
OUR SIGNIFICANT SALES
90 Diamond Hitch, Big Sky Tim Cyr & Cathy Gorman, Broker
Saddle Ridge J2, Big Sky Carrie Radtke, Broker Browse all MLS listings and learn more about the market at bigskysir.com
MARKET DETAILS | ALL OF BIG SKY
All of Big Sky Total $300,000,000
0 40
1st Qtr Volume
2nd Qtr Volu 336
0 30
$225,000,000
0
20
169 Units
210 Units
$44,810,7
0
10
$150,000,000
124 Units
0
$39,965,150
$25,054,668 $36,841,872
$75,000,000
$27,150,399 $20,019,200 $0
$16,857,302 2010
$25,188,550 $21,279,891 2011
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$31,906,075 $26,242,250 $27,762,700
$44,759,9
$37,575,4
$33,791,2
$16,750,238 2012
2013
MARKET DETAILS | ALL OF BIG SKY
l Sales Vol. and Number of Sales
ume
Units
789
3rd Qtr Volume 313 Units
$89,549,094
301 Units $43,644,616 Q4 Volume
$75,517,225 $84,422,496 Q3 Volume
$52,184,550
906
75 Q1 - Units
$34,647,460 $58,926,384 $49,594,666
402
230
292 Units
4th Qtr Volume
$40,960,785
2014
$32,271,030 2015
$42,586,900 Q2 Volume
$45,526,844
$48,018,712
2016
2017
Q1 Volume
Q1 Total Volume
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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
Q3 2015
13
10,897,580
805,024
725,000
2015 Montana BigQ4Sky, | Web ID: 2190471,241,980 26 39,774,837
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
Q3 2016
22
35,749,000
1,528,762
1,277,000
Home Sales - Q1 2017
AVERAGE SALES12,699,000 PRICE/SQ.924,455 FT. WAS $366 Q4 2016 13 875,000 2017 12 13,802,886 $1,000,000 1,045,289 5Q1HOMES SOLD OVER AND722,500 7 UNDER Single Family Residential Quarterly Sales Data $70,000,000
$2,600,000 28
28
26
$52,500,000 21
20
$35,000,000
13
14
$17,500,000
$0
$1,950,000
22
13
14
13
13
13
$1,300,000
12
$650,000
7
0 Q3 2014
Q4 2014
Q1 2015
SALES VOLUME
Q2 2015
Q3 2015 AVG. SALE
Q4 2015
Q1 2016
Q2 2016
MEDIAN SALE
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Q3 2016
Q4 2016
# OF SALES
Q1 2017
$0
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
37 $19,066,666 Big Sky, Montana | Web ID: 219384
$443,448
$300,000
$452,833
$390,000
Q2 2015 Q3 2015
29
$15,027,500
Condo Sales - Q1 2017 Q4 2015
45
$25,612,388
$522,021
$325,000
Q1 2016
31
$12,356,630
$344,625
$300,000
Q2 2016 $17,131,400 $335,000 $388,278 AVERAGE SALES20PRICE FOR CONDOS IN THE MEADOW - $627,975 Q3 2016 $21,985,496 $424,554 AVERAGE SALES48PRICE FOR CONDOS ON THE $323,750 MOUNTAIN - $646,367 Q4 2016
57
$26,852,116
$447,184
$350,300
Q1 2017
41
$26,133,201
$603,031
$415,000
Condo/Townhome Quarterly Sales Data $28,000,000
$700,000
57
60 $21,000,000 45
43
46
41 31
29
30
$0
$525,000
37
$14,000,000
$7,000,000
48
45
23
$350,000
20 $175,000
15
0 Q3 2014
Q4 2014
Q1 2015
Q2 2015
SALES VOLUME
Q3 2015
Q4 2015
AVG. SALE
Q1 2016
Q2 2016
MEDIAN SALE
Q3 2016
Q4 2016
Q1 2017
$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
10,357,000
339,423
250,000
Q1 2015
19
5,160,000
217,882
195,000
Q2 2015
25
11,292,500
410,326
330,000
Q3 2015
25
8,722,380
325,911
300,000
9,695,000
355,882
325,000
Big Sky, Montana | Web ID: 214575
Land Sales - Q1 192017 Q4 2015 Q1 2016
11
3,040,840
258,316
280,000
Q1 2017
22
8,082,625
331,131
300,000
AVERAGE SALES PRICE IN THE MEADOW WAS $300,804 Q2 2016 10 6,384,500 528,063 323,750 AVERAGE SALES PRICE IN THE CANYON WAS $316,000 Q3 2016 23 26,688,000 551,048 325,000 AVERAGE ON THE MOUNTAIN Q4 2016 SALES PRICE 16 4,093,500 250,893 WAS $308,571 271,500 Land Quarterly Sales Data $30,000,000
$600,000
28
28
25
25
23
$22,500,000 21
19
16 14
$0
$450,000
19
$15,000,000
$7,500,000
22
11
11
$300,000
10 $150,000
7
0 Q3 2014
Q4 2014
Q1 2015
SALES VOLUME
Q2 2015
Q3 2015
AVG. SALE
Q4 2015
Q1 2016
Q2 2016
MEDIAN SALE
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Q3 2016 # OF SALES
Q4 2016
Q1 2017
$0
MARKET DETAILS | Q1: 2017
SALES
# OF TRANSACTIONS
TOTOAL DOLLAR VOLUME
AVERAGE SALES PRICE
AVERAGE DOM
Under $500,000
47
$14,319,075
$304,661
296
$500,001 to $1,000,000
15
$10,129,500
$675,300
191
$1,000,001 to $1,500,000
5
$5,980,000
$1,196,000
152
$1,500,001 to $2,000,000
5
$8,672,251
$1,735,450
71
$2,000,001 to $2,500,000
4
$9,067,886
$2,266,971
286
$2,500,001 to $3,000,000
1
$3,000,000
$3,000,000
1,852
$3,000,001 to $3,500,000
0
$0
$0
0
$3,500,001 to $4,000,000
0
$0
$0
0
Over $4 Million
0
$0
$0
0
RESIDENTIAL TOTAL:
77
$48,286,712
$627,100
270
Single Family
12
$13,802,886
$1,150,240
367
Condo/Twnhm
41
$26,133,201
$367,395
185
Land
23
$8,235,625
$359,070
378
Under $500,000 $2,000,001 to $2,500,000 Over $4 Million
$500,001 to $1,000,000 $2,500,001 to $3,000,000
$1,000,001 to $1,500,000 $3,000,001 to $3,500,000
$1,500,001 to $2,000,000 $3,500,001 to $4,000,000
1% 6%
5%
6%
# OF TRANSACTIONS
19%
28%
18%
6%
SALES VOLUME 61%
17%
12% 20%
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MARKET DETAILS | TOTALS 2015 SALES
# OF TRANSACTIONS
TOTOAL DOLLAR VOLUME
AVERAGE SALES PRICE
AVERAGE DOM
Under $500,000
178
$49,584,748
$278,566
216
$500,001 to $1,000,000
61
$40,588,403
$665,383
200
$1,000,001 to $1,500,000
27
$34,397,322
$1,025,000
254
$1,500,001 to $2,000,000
12
$21,028,358
$1,752,363
176
$2,000,001 to $2,500,000
4
$9,645,000
$2,335,000
505
$2,500,001 to $3,000,000
4
$11,095,000
$2,773,750
55
$3,000,001 to $3,500,000
6
$19,933,000
$3,322,166
141
$3,500,001 to $4,000,000
0
$0
$0
0
Over $4 Million
2
$14,925,000
$7,462,500
147
RESIDENTIAL TOTAL:
294
$201,196,831
$632,826
214
Single Family
66
$85,261,417
$1,291,839
229
Condo/Twnhm
137
$72,670,534
$530,441
162
Land
88
$34,869,880
$396,248
290
Under $500,000 $2,000,001 to $2,500,000 Over $4 Million
1% 1% 4%
$500,001 to $1,000,000 $2,500,001 to $3,000,000
$1,000,001 to $1,500,000 $3,000,001 to $3,500,000
$1,500,001 to $2,000,000 $3,500,001 to $4,000,000
1% 2%
7% 10%
9%
25%
6%
21%
# OF TRANSACTIONS
61%
5%
SALES VOLUME
10%
17%
20%
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MARKET DETAILS | TOTALS 2016 SALES
# OF TRANSACTIONS
TOTOAL DOLLAR VOLUME
AVERAGE SALES PRICE
AVERAGE DOM
Under $500,000
194
$53,904,103
$277,856
232
$500,001 to $1,000,000
64
$45,444,363
$710,068
186
$1,000,001 to $1,500,000
22
$26,253,390
$1,193,335
242
$1,500,001 to $2,000,000
10
$17,775,000
$1,777,500
198
$2,000,001 to $2,500,000
6
$13,672,000
$2,278,666
211
$2,500,001 to $3,000,000
4
$11,095,000
$2,773,750
169
$3,000,001 to $3,500,000
4
$13,050,000
$3,262,500
297
$3,500,001 to $4,000,000
2
$7,225,000
$3,612,500
425
Over $4 Million
2
$10,587,500
$5,293,750
575
RESIDENTIAL TOTAL:
309
$199,006,356
$692,577
226
Single Family
63
$93,648,374
$1,486,482
233
Condo/Twnhm
181
$79,493,142
$439,188
169
Land
60
$25,321,840
$422,030
388
Under $500,000 $2,000,001 to $2,500,000 1% Over $4 Million
1% 2% 3%
$500,001 to $1,000,000 $2,500,001 to $3,000,000
$1,000,001 to $1,500,000 $3,000,001 to $3,500,000
$1,500,001 to $2,000,000 $3,500,001 to $4,000,000
1%
1% 7%
7%
4%
5% 27%
6%
21%
7%
# OF TRANSACTIONS
63%
SALES VOLUME 9%
13% 23%
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Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated. Equal Housing Opportunity.