Q2 2017 Big Sky Market Watch

BIG SKY

MARKET WATCH Q2 2017 COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB

Raven’s Roost | MLS ID: 300725

Q2 MARKET REVIEW

Q2 MARKET OBSERVATIONS Q2 2017 compared to Q2 2016

Market Observations

3

Resort/Area Overview

3

Significant Sales

4-11

Charts & Data

Closed Sales

Median Condo Sales Price

Inventory Levels

Q 2 Sales Volume

Units

70 103 3.0 Million

$

Pending Sales

Q 2 Tr a n s a c t i o n s

$

Million

1

Q2 H i g hest Sale

Cover Property Summit View Big Sky, Montana | Web ID: 218478 © 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 - Q2 2017 Pending: 26 Sold: Condos/Twnhm: 4 Homes: 5 Homesites: 2 New Development Pending: 9 New Development Sold: 1

Meadow Village Pending/Sold - Q2 2017 Pending: 38 Sold: Condos/Twnhm: 21 Homes: 8 Homesites: 18 New Development Pending: 9 New Development Sold: 6

Big Sky Pending/Sold - Q2 2017 Pending: 22 Sold: Condos/Twnhm: 26 Homes: 0 Homesites: 4 New Development Pending: 0 New Development Sold: 0

Yellowstone Club Pending/Sold - Q2 2017 Pending: 0 Sold: Condos/Twnhm: 0 Homes: 1 Homesites: 0 New Development Pending: 0 New Development Sold: 0

Spanish Peaks Mountain Club Pending/Sold - Q2 2017 Pending: 3 Sold: Condos/Twnhm: 0 Homes: 3 Homesites: 3 New Development Pending: 1 New Development Sold: 0

Gallatin Canyon Pending/Sold - Q2 2017 Pending: 3 Sold: Condos/Twnhm: 0 Homes: 2 Homesites: 6 New Development Pending: 0 New Development Sold: 0

OUR SIGNIFICANT SALES

Strawberry Creek Ranch, Livingston, Offered at $8.5M Will Brunner, Broker

138 Amber Lily, Big Sky, Offered at $1.7M Tallie Lancey and Vivian Bridaham, Brokers

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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

Q1+2 Units

178

$84,422,496 Q3 Volume

$52,184,550

906

$70,128,250

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

402

230

292 Units

4th Qtr Volume

$40,960,785

2014

$32,271,030 2015

Q2 Volume

$42,586,900 Q2 Volume

$45,526,844

$48,018,712

2016

2017

Q1 Volume

Q1 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

Q4 2015

26

39,774,837

1,241,980

1,179,554

BigQ1Sky, Montana | Web ID: 301197 1,634,198 2016 14 23,129,374

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

Q4 2016

13

12,699,000

924,455

875,000

Home Sales - Q2 2017

AVERAGE SALES13,802,886 PRICE FOR1,045,289 HOMES IN722,500 THE MEADOW - $1,312,167 Q1 2017 12 AVERAGE SALES30,221,900 PRICE FOR1,590,626 HOMES ON THE MOUNTAIN - $2,115,938 Q2 2017 19 1,345,000 Single Family Residential Quarterly Sales Data $70,000,000

$2,600,000

26

26

22

$52,500,000

20

19

20

$35,000,000 13

$17,500,000

$0

13

13

14

13

13

13

$1,300,000

12

$650,000

7

0 Q4 2014

$1,950,000

Q1 2015

Q2 2015

SALES VOLUME

Q3 2015

Q4 2015 AVG. SALE

Q1 2016

Q2 2016

Q3 2016

MEDIAN SALE

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Q4 2016

Q1 2017

# OF SALES

Q2 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

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

Q1 2016

31

$12,356,630

$344,625

$300,000

Q2 2016

20

$17,131,400

$335,000

$388,278

Big Sky, Montana | Web ID: 220451

Condo Sales - Q2 2017

Q3 2016 $21,985,496 $424,554 $323,750 AVERAGE SALES48PRICE FOR CONDOS IN THE MEADOW - $411,407 Q4 2016 57 $26,852,116 $447,184 $350,300 AVERAGE SALES41PRICE FOR CONDOS ON THE $415,000 MOUNTAIN - $646,477 Q1 2017 $26,133,201 $603,031 Q2 2017

51

$28,033,850

$549,683

$372,500

Condo/Townhome Quarterly Sales Data $30,000,000

$700,000

57

60 $22,500,000

46

45

45

$7,500,000

$0

31

29 23

$350,000

20 $175,000

15

0 Q4 2014

$525,000

41

37

$15,000,000 30

51

48

Q1 2015

Q2 2015

Q3 2015

SALES VOLUME

Q4 2015

Q1 2016

AVG. SALE

Q2 2016

Q3 2016

MEDIAN SALE

Q4 2016

Q1 2017

Q2 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

Q4 2015

19

9,695,000

355,882

325,000

3,040,840

258,316

280,000

Big Sky, Montana | Web ID: 216926

Land Sales - Q2112017 Q1 2016 Q2 2016

10

6,384,500

528,063

323,750

Q2 2017

33

11,872,500

359,773

170,000

AVERAGE IN THE MEADOW WAS $167,028 Q3 2016 SALES PRICE 23 26,688,000 551,048 325,000 AVERAGE IN THE CANYON250,893 WAS $178,667 Q4 2016 SALES PRICE 16 4,093,500 271,500 Q1 2017 SALES PRICE 22 8,082,625 331,131 WAS $866,000 300,000 AVERAGE ON THE MOUNTAIN Land Quarterly Sales Data $30,000,000

$600,000 40

33

$22,500,000 30 28

25

$15,000,000

19

20

$7,500,000

$0

25

23 19

10

10

Q1 2015

Q2 2015

SALES VOLUME

Q3 2015

Q4 2015

AVG. SALE

$300,000

16 11

0 Q4 2014

22

$450,000

Q1 2016

Q2 2016

$150,000

Q3 2016

MEDIAN SALE

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Q4 2016 # OF SALES

Q1 2017

Q2 2017

$0

MARKET DETAILS | Q2: 2017 TRANSACTIONS

# OF

TOTOAL DOLLAR VOLUME

AVERAGE SALES PRICE

AVERAGE DOM

Under $500,000

63

$15,531,300

$246,529

235

$500,001 to $1,000,000

18

$12,646,950

$702,608

155

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

9

$11,210,000

$1,245,556

293

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

6

$10,270,000

$1,711,667

378

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

0

$0

$0

0

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

6

$16,670,000

$2,778,333

153

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

0

$0

$0

0

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

1

$3,800,000

$3,800,000

567

Over $4 Million

0

$0

$0

0

RESIDENTIAL TOTAL:

103

$70,128,250

$680,857

234

Single Family

19

$30,221,900

$1,590,626

252

Condo/Twnhm

51

$28,033,850

$549,683

137

Land

33

$11,872,500

$359,773

376

SALES

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

6%

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

6% 1%

$1,500,001 to $2,000,000 $3,500,001 to $4,000,000

5% 22%

9%

17%

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

24%

# OF TRANSACTIONS

61%

SALES VOLUME

16%

15% 18%

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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.