Q3 Big Sky, Montana Market Watch

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.

Browse all MLS listings and learn more about the market at bigskysir.com

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.