Q1 2017 Big Sky Market Watch

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.