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.