Q1 Big Sky Market Watch

BIG SKY

MARKET WATCH 1ST QUARTER 2016

COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB

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Big Sky, Montana | MLS ID: 212788

MARKET REVIEW 1

Market Observations

2

Resort/Area Overview

2

Significant Sales

3-5

MARKET OBSERVATIONS

Pending Sales

Quarterly Charts & Data

Closed Sales

Median Condo Sales Price

Inventory Levels

Sal es Vo l u m e

$

Tra n s a c t i o n s

Mil lio n

Mil lio n

41.5 56 5.9

$

H ig he s t Sa le

Jeff Helms, Broker - Big Sky Sotheby’s International Realty represented the buyer.

Cover Property Big Sky, Montana | Web ID: 207418 © 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 - 2016 Condos/Twnhm: 1 Homes: 6 Homesites: 1 Pending: 6 New Development Pending: 4 New Development Sold: 3

Meadow Village Pending/Sold Q1 - 2016 Condos/Twnhm: 13 Homes: 4 Homesites: 4 Pending: 18 New Development Pending: 1 New Development Sold: 0

Big Sky Pending/Sold Q1 - 2016 Condos/Twnhm: 17 Homes: 1 Homesites: 2 Pending: 19 New Development Pending: 10 New Development Sold: 0

Spanish Peaks Mountain Club Pending/Sold Q1 - 2016

Yellowstone Club Pending/Sold Q1 - 2016

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

Gallatin Canyon Pending/Sold Q1 - 2016 Condos/Twnhm: 0 Homes: 0 Homesites: 4 Pending: 3 New Development Pending: 0 New Development Sold: 0

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

OUR SIGNIFICANT SALES

New Construction Moose Ridge 59, Big Sky, MT Jeff Helms, Broker

Moonlight Basin, Saddle Ridge G4, Big Sky, MT Lisa Knorr, Broker Browse all MLS listings and learn more about the market at

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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

$225,000,000

0

30 0

20

$150,000,000

169

210 124

117 0

10

$39,965,150

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

$36,841,872

0

$75,000,000

$10,795,000 2009

$25,054,668

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

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

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$31,906,0

$26,242,2

$27,762,7

$16,750,2 2012

bigskysir.com

MARKET DETAILS | ALL OF BIG SKY

l Sales Vol. and Number of Sales

e

075

250

700

3rd Qtr Volume

336

4th Qtr Volume

$89,549,094

313

292 $75,517,225

$44,810,789

$52,184,550

$44,759,906

$34,647,460

56

$58,926,384 $49,594,666

$37,575,402

$33,791,230

$40,960,785

$32,271,030

$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

Q3 2015

13

10,897,580

805,024

725,000

Gallatin Canyon, Montana | Web ID: 207547

Home Sales - First Quarter

AVERAGE SALES PRICE/SQ. FT. WAS $4901,179,554 Q4 2015 26 39,774,837 1,241,980 2016 14 23,129,374 1,634,198 1,070,000 7 Q1HOMES SOLD OVER $1,000,000 AND 7 UNDER Single Family Residential Quarterly Sales Data $70,000,000

$3,000,000

28

28 $52,500,000 21

20

26 $2,250,000

22

20

$35,000,000

13

14

$17,500,000

$0

13

$1,500,000

14

13

$750,000

7

0 Q1 2014

Q2 2014

Q3 2014

SALES VOLUME

Q4 2014 AVG. SALE

Q1 2015

Q2 2015 MEDIAN SALE

Q3 2015

Q4 2015

Q1 2016

$0

# OF SALES

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Table 2 # OF SALES Q1 2014

SALES VOLUME

36

Q2 2014 34 210153 Big Sky, Montana | Web ID: Q3 2014

43

AVG. SALE

MEDIAN SALE

$16,300,859

$425,172

$305,000

$22,693,884

$488,090

$367,500

$20,079,081

$440,034

$273,000

Condo Sales - First Quarter 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 $300,000 AVERAGE SALES PRICE FOR CONDOS $443,448 IN THE MEADOW - $355,603 Q3 2015 29 $15,027,500 $452,833 $390,000 AVERAGE SALES PRICE FOR CONDOS $522,021 ON THE MOUNTAIN - $303,594 Q4 2015 45 $25,612,388 $325,000 Q1 2016

31

$12,356,630

$344,625

$300,000

Condo/Townhome Quarterly Sales Data $26,000,000

$600,000 50

43

$19,500,000 38

36

46

45 $450,000

37

34

31

29 $13,000,000 25

$6,500,000

$0

$300,000

23

$150,000

13

0 Q1 2014

Q2 2014

Q3 2014

SALES VOLUME

Q4 2014

Q1 2015

AVG. SALE

Q2 2015

Q3 2015

MEDIAN SALE

Q4 2015

Q1 2016

$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

The Biggs BarX Ranch, Townsend, Montana | Web ID: 206210

Q4 2014 Sales -28First Quarter Land 10,357,000 339,423

250,000

Q1 2015

19

5,160,000

217,882

195,000

Q1 2016

11

3,040,840

258,316

280,000

AVERAGE SALES PRICE IN THE MEADOW 410,326 WAS $238,500 Q2 2015 25 11,292,500 330,000 AVERAGE SALES PRICE IN THE CANYON WAS Q3 2015 25 8,722,380 325,911 $200,500 300,000 Q4 2015 19 9,695,000 355,882 325,000 AVERAGE SALES PRICE ON THE MOUNTAIN WAS $408,947 Land Quarterly Sales Data $12,000,000

$500,000

28

28

25

25

$9,000,000

$375,000 21

$6,000,000 14

$3,000,000

$0

19

19

14

$250,000

11

11

11 $125,000

7

0 Q1 2014

Q2 2014

SALES VOLUME

Q3 2014

Q4 2014 AVG. SALE

Q1 2015

Q2 2015

MEDIAN SALE

Q3 2015

Q4 2015

Q1 2016

$0

# OF SALES

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MARKET DETAILS | YTD: MARCH 2016

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

SALES

NUMBER OF TRANSACTIONS

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

Under $500,000

34

$8,372,340

$346,245

Single Family

14

$26,129,374

$1,634,198

$500,001 to $1,000,000

12

$8,243,630

$686,969

MulM Family

31

$12,356,630

$344,625

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

4

$4,468,374

$1,117,094

Land

11

$3,040,840

$258,316

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

1

$1,780,000

$1,780,000

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

1

$2,275,000

$2,275,000

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

1

$2,750,000

$2,750,000

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

1

$3,050,000

$3,050,000

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

0

$0

$0

Over $4 Million

2

$10,587,500

$5,293,750

RESIDENTIAL TOTAL:

56

$41,526,844

$658,136

TOTAL NUMBER OF TRANSACTIONS

TOTAL DOLLAR VOLUME

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

Under $500,000

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

Over $4 Million

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

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

$500,001 to $1,00

$500,001 to $1,000,000 Under $500,000 $2,500,001 to $3,000,000 $2,000,001 to $2,500,000

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

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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

178

$49,584,748

$278,422

Single Family

66

$85,261,417

$1,176,470

$500,001 to $1,000,000

61

$40,588,403

$662,770

MulM Family

137

$72,670,534

$512,078

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

27

$34,397,322

$1,273,975

Land

88

$34,869,880

$363,533

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

12

$21,028,358

$1,752,363

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

4

$9,645,000

$2,411,250

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

1

$2,700,000

$2,700,000

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

6

$19,933,000

$3,322,167

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

0

$0

$0

Over $4 Million

2

$14,925,000

$7,462,500

RESIDENTIAL TOTAL:

291

$192,801,831

$632,826

TOTAL NUMBER OF TRANSACTIONS

TOTAL DOLLAR VOLUME

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

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

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

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

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

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

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

Under $500,000

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

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

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$500,001 to $1,000,000

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