BIG SKY
MARKET WATCH Q3 2017 COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB
Spanish Peaks Mountain Club Homestead Cabin bit.ly/bssir304406
Q3 MARKET REVIEW
MARKET OBSERVATIONS Q3 2017 compared to Q3 2016
Market Observations
3
Resort/Area Overview
3
Significant Sales
71
Q 3 Sa l es Vo lume
Closed Sales
Median Condo Sales Price
Inventory Levels
97 3.4 Units
$
Charts & Data
Million
4-11
Pending Sales
Q 3 Tr a n s a c t i o n s
$
Million
1
Q 3 H i g hest Sale
Cover Property Big Sky, Montana | bit.ly/bssir305585 © 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 - Q3 2017 Pending: 19 Sold: Condos/Twnhm: 8 Homes: 5 Homesites: 3 New Development Pending: 17 New Development Sold: 6
Meadow Village Pending/Sold - Q3 2017
Pending: 35 Sold: Condos/Twnhm: 26 Homes: 7 Homesites: 14 New Development Pending: 16 New Development Sold: 6
Big Sky Pending/Sold - Q3 2017 Pending: 25 Sold: Condos/Twnhm: 9 Homes: 3 Homesites: 4 New Development Pending: 9 New Development Sold: 0
Yellowstone Club Pending/Sold - Q3 2017 Pending: 1 Sold: Condos/Twnhm: 0 Homes: 0 Homesites: 0 New Development Pending: 0 New Development Sold: 0
Spanish Peaks Mountain Club Pending/Sold - Q3 2017 Pending: 7 Sold: Condos/Twnhm: 0 Homes: 4 Homesites: 2 New Development Pending: 3 New Development Sold: 4
Gallatin Canyon Pending/Sold - Q3 2017 Pending: 8 Sold: Condos/Twnhm: 0 Homes: 4 Homesites: 2 New Development Pending: 0 New Development Sold: 0
OUR SIGNIFICANT SALES
34 Summit View, Big Sky Laura T. Sacchi, Broker
2670 Bobtail Horse, Big Sky Ben Coleman, 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 Sales V
1st Qtr Volume
2nd Qtr Volume 336 Units
210 Units 169 Units 124 Units $44,810,789
$39,965,150
$25,054,668 $36,841,872
$27,150,399 $20,019,200 $16,857,302 2010
$25,188,550 $21,279,891
$31,906,075 $26,242,250 $27,762,700
$44,759,906
$37,575,402
$33,791,230
$16,750,238
2011
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2012
2013
MARKET DETAILS | ALL OF BIG SKY
Vol. and Number of Sales
3rd Qtr Volume 313 Units
292 Units
4th Qtr Volume 301 Units
$89,549,094
275 Units
$43,644,616 $75,517,225
$71,215,885 $84,422,496
Q3 Volume
$52,184,550
$70,128,250
$34,647,460 $58,926,384 $49,594,666
$40,960,785
2014
$32,271,030 2015
Q2 Volume
$42,586,900
$45,526,844
$48,018,712
2016
2017
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
Q1 2016
14
23,129,374
1,634,198
1,070,000
Gallatin | bit.ly/bssir303669 Q2 2016 Canyon, 13 Montana 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
Q1 2017
12
13,802,886
1,045,289
722,500
Home Sales - Q3 2017
AVERAGE SALES30,221,900 PRICE/SQ.1,590,626 FT. WAS $443 Q2 2017 19 1,345,000 Q3 2017 AVERAGE SALES35,450,000 PRICE FOR1,441,364 SINGLE FAMILY HOMES $1,477,083 24 1,296,250 Single Family Residential Quarterly Sales Data $40,000,000
$1,700,000
26
26 $30,000,000
24 22
20 20
$20,000,000 13
$10,000,000
$0
$1,275,000
19
13
13
14
13
13
13
$850,000
12
$425,000
7
0 Q1 2015
Q2 2015
Q3 2015
SALES VOLUME
Q4 2015
Q1 2016 AVG. SALE
Q2 2016
Q3 2016
Q4 2016
MEDIAN SALE
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Q1 2017
Q2 2017
# OF SALES
Q3 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
45
$25,612,388
$522,021
$325,000
31
$12,356,630
$344,625
$300,000
Q4 2015
Big Sky, Montana | Q1 2016
bit.ly/bssir306943
Q2 2016
20
$17,131,400
$335,000
$388,278
Q3 2016
48
$21,985,496
$424,554
$323,750
Condo Sales - Q3 2017
Q4 2016 $26,852,116 $447,184 $350,300 AVERAGE SALES57PRICE FOR CONDOS IN THE MEADOW - $381,623 Q1 2017 41 $26,133,201 $603,031 $415,000 AVERAGE SALES PRICE FOR CONDOS ON THE MOUNTAIN - $1,078,500 Q2 2017
51
$28,033,850
$549,683
$372,500
Q3 2017
46
$24,519,435
$513,851
$417,250
Condo/Townhome Quarterly Sales Data $30,000,000
$700,000
57
60 $22,500,000
45
45
$7,500,000
$0
46
31
29
$350,000
23
20 $175,000
15
0 Q1 2015
$525,000
41
37
$15,000,000 30
51
48
Q2 2015
Q3 2015
Q4 2015
SALES VOLUME
Q1 2016
Q2 2016
AVG. SALE
Q3 2016
Q4 2016
MEDIAN SALE
Q1 2017
Q2 2017
Q3 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
8,722,380
325,911
300,000
9,695,000
355,882
325,000
3,040,840
258,316
280,000
6,384,500
528,063
323,750
Q3 2015 Big Sky, Montana |
25 bit.ly/bssir304473
Q4 2015
19
Q1 2016 Land Sales - Q3112017 Q2 2016
10
Q3 2016
23 26,688,000 551,048 325,000 AVERAGE SALES PRICE IN THE MEADOW WAS $285,403 Q4 2016 16 4,093,500 250,893 271,500 AVERAGE SALES PRICE IN THE CANYON WAS $360,000 Q1 2017 22 8,082,625 331,131 300,000 AVERAGE SALES PRICE ON THE MOUNTAIN WAS $670,000 Q2 2017 33 11,872,500 359,773 170,000 Q3 2017
27
11,246,450
397,458
325,000
Land Quarterly Sales Data $30,000,000
$600,000 40
33
$22,500,000 30
$15,000,000 20
$7,500,000
$0
25
27
25
19
23
22
19
10
Q2 2015
Q3 2015
SALES VOLUME
Q4 2015
$300,000
16 11
0 Q1 2015
$450,000
Q1 2016
AVG. SALE
10
$150,000
Q2 2016
Q3 2016
Q4 2016
MEDIAN SALE
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Q1 2017 # OF SALES
Q2 2017
Q3 2017
$0
MARKET DETAILS | Q3: 2017
SALES
# OF TRANSACTIONS
TOTOAL DOLLAR VOLUME
AVERAGE SALES PRICE
AVERAGE DOM
Under $500,000
52
$15,314,885
$294,498
172
$500,001 to $1,000,000
21
$15,168,000
$719,895
187
$1,000,001 to $1,500,000
12
$14,582,500
$1,204,750
161
$1,500,001 to $2,000,000
4
$6,500,000
$1,600,000
285
$2,000,001 to $2,500,000
7
$16,250,500
$2,317,000
388
$2,500,001 to $3,000,000
1
$3,400,000
$3,400,000
34
$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:
97
$71,215,885
$712,588
190
Single Family
24
$35,450,000
$1,441,364
239
Condo/Twnhm
46
$24,519,435
$513,851
121
Land
27
$11,246,450
$397,458
337
Under $500,000 $2,000,001 to $2,500,000 Over $4 Million
4%
$500,001 to $1,000,000 $2,500,001 to $3,000,000
7% 1%
# OF TRANSACTIONS
$1,500,001 to $2,000,000 $3,500,001 to $4,000,000
5% 22% 23%
12%
22%
$1,000,001 to $1,500,000 $3,000,001 to $3,500,000
54%
SALES VOLUME 20%
9%
21%
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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% 5% 21%
# OF TRANSACTIONS
61%
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.