BIG SKY
MARKET WATCH Q4 2017 COVERING BIG SKY RESORT, MOONLIGHT BASIN, GALLATIN CANYON, MEADOW VILLAGE, SPANISH PEAKS MOUNTAIN CLUB AND YELLOWSTONE CLUB
OUR SIGNIFICANT SALES
800 Appaloosa, Gallatin Gateway Laura T. Sacchi, Broker & Allison Gilley, Broker
Q3 MARKET REVIEW
Saddle Ridge J1, Moonlight Basin Callie Pecunies, Broker
MARKET OBSERVATIONS DEC 2017 compared to DEC 2016
Market Observations
3
Resort/Area Overview
3
Significant Sales
92
Q 4 Sales Volume
97
Closed Sales
Units
$
Charts & Data
Million
4-11
Pending Sales
Q 4 Tr a n s a c t i o n s
$
Median Condo Sales Price
20
Inventory Levels
Million
1
Q 4 H i g hest Sale
Cover Property: Yellowstone Club, Big Sky, Montana | bit.ly/bssir308563 © 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 Q4 2017 Pending: 12 Sold: Condos/Twnhm: 8 Homes: 5 Homesites: 1 New Development Pending: 8 New Development Sold: 7 Big Sky Q4 2017 Pending: 24 Sold: Condos/Twnhm: 18 Homes: 2 Homesites: 3 New Development Pending: 9 New Development Sold: 0
Yellowstone Club Q4 2017 Pending: 1 Sold: Condos/Twnhm: 0 Homes: 0 Homesites: 1
Spanish Peaks Q4 2017 Pending: 3 Sold: Condos/Twnhm: 0 Homes: 1 Homesites: 5 New Development Pending: 2 New Development Sold: 1
Meadow Village Q4 2017 Pending: 21 Sold: Condos/Twnhm: 20 Homes: 10 Homesites: 11 New Development Pending: 6 New Development Sold: 4
Gallatin Canyon Q4 2017 Pending: 5 Sold: Condos/Twnhm: 0 Homes: 6 Homesites: 4 New Development Pending: 1 New Development Sold: 0
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MARKET DETAILS | ALL OF BIG SKY
All of Big Sky Total S $300,000,000
1st Qtr Volume
2nd Qtr Volum
0 40
336 0 30
$225,000,000
Units
0
20
169
210
$44,810,78
0
10
$150,000,000
124
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
$44,759,90
$37,575,40
$33,791,23
$16,750,238 2012
2013
MARKET DETAILS | ALL OF BIG SKY
Sales Vol. and Number of Sales
me
89
3rd Qtr Volume
$92,576,466
372
313
$89,549,094
292
301
Q4 Volume & Year-end Units Sold
$43,644,616 $75,517,225
$71,215,885 $84,422,496
Q3 Volume
$52,184,550
06
$70,128,250
$34,647,460 $58,926,384 $49,594,666
02
30
4th Qtr Volume
$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
Q2 2016
13
18,446,000
1,309,636
1,025,000
1,528,762
1,277,000
BigQ3Sky, | 2016 Montana 22
bit.ly/bssir312674 35,749,000
Q4 2016
13
12,699,000
924,455
875,000
Q1 2017
12
13,802,886
1,045,289
722,500
Q2 2017
19
30,221,900
1,590,626
1,345,000
Home Sales - Q4 2017
AVERAGE SALES35,450,000 PRICE/SQ.1,441,364 FT. WAS $422 Q3 2017 24 1,296,250 AVERAGE SALES33,093,820 PRICE FOR1,272,637 SINGLE FAMILY HOMES $1,395,403 Q4 2017 25 1,105,000 Single Family Residential Quarterly Sales Data $40,000,000
$1,700,000
26
26
24
22
$30,000,000
13
$10,000,000
$0
$1,275,000
19
20
$20,000,000
25
13
13
14
13
13
13
$850,000
12
$425,000
7
0 Q2 2015
Q3 2015
Q4 2015
SALES VOLUME
Q1 2016
Q2 2016 AVG. SALE
Q3 2016
Q4 2016
Q1 2017
MEDIAN SALE
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Q2 2017
Q3 2017
# OF SALES
Q4 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
31
$12,356,630
$344,625
$300,000
20
$17,131,400
$335,000
$388,278
2016 BigQ1 Sky, Montana |
bit.ly/bssir314061
Q2 2016
Condo Sales - Q4 2017 Q3 2016
48
$21,985,496
$424,554
$323,750
Q4 2016
57
$26,852,116
$447,184
$350,300
Q1 2017 $26,133,201 $603,031 $415,000 AVERAGE SALES41PRICE FOR CONDOS IN THE MEADOW - $446,604 Q2 2017 $28,033,850 $549,683 AVERAGE SALES51PRICE FOR CONDOS ON THE$372,500 MOUNTAIN - $581,134 Q3 2017
46
$24,519,435
$513,851
$417,250
Q4 2017
48
$26,261,146
$536,514
$437,250
Condo/Townhome Quarterly Sales Data $30,000,000
$700,000
57
60 $22,500,000 45
51
48
45
46
30
$525,000
41
37
$15,000,000
48
31
29
$350,000
20 $7,500,000
$0
$175,000
15
0 Q2 2015
Q3 2015
Q4 2015
Q1 2016
SALES VOLUME
Q2 2016
Q3 2016
AVG. SALE
Q4 2016
Q1 2017
MEDIAN SALE
Q2 2017
Q3 2017
Q4 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
19
9,695,000
355,882
325,000
11
3,040,840
258,316
280,000
10
6,384,500
528,063
323,750
26,688,000
551,048
325,000
Q4 2015
Big Sky, Montana | Q1 2016
bit.ly/bssir304237
Q2 2016
Land Sales - Q4232017 Q3 2016 Q4 2016
16
4,093,500
250,893
271,500
Q4 2017
24
33,221,500
596,659
287,500
AVERAGE SALES PRICE IN THE MEADOW WAS $232,300 Q1 2017 22 8,082,625 331,131 300,000 AVERAGE SALES PRICE IN THE CANYON WAS $231,875 Q2 2017 33 11,872,500 359,773 170,000 AVERAGE ON THE MOUNTAIN Q3 2017 SALES PRICE 27 11,246,450 397,458 WAS $1,107,889 325,000 Land Quarterly Sales Data $40,000,000
$600,000 40
33
$30,000,000 30
25
27
25
23
$20,000,000
$0
22
19
20
$10,000,000
10
Q3 2015
Q4 2015
SALES VOLUME
24 $300,000
16 11
0 Q2 2015
$450,000
Q1 2016
10
Q2 2016
AVG. SALE
$150,000
Q3 2016
Q4 2016
Q1 2017
MEDIAN SALE
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Q2 2017 # OF SALES
Q3 2017
Q4 2017
$0
MARKET DETAILS | TOTALS 2017 # OF TRANSACTIONS
TOTOAL DOLLAR VOLUME
AVERAGE SALES PRICE
AVERAGE DOM
AVG PPSF
Under $500,000
210
$58,632,955
$279,205
228
256
$500,001 to $1,000,000
81
$55,993,450
$720,524
181
312
$1,000,001 to $1,500,000
39
$47,351,951
$1,214,153
245
544
$1,500,001 to $2,000,000
17
$28,967,251
$1,703,956
319
483
$2,000,001 to $2,500,000
14
$32,668,386
$2,333,456
325
595
$2,500,001 to $3,000,000
9
$25,045,000
$2,782,778
336
694
$3,000,001 to $3,500,000
3
$10,252,320
$3,417,440
121
822
$3,500,001 to $4,000,000
1
$3,800,000
$3,800,000
567
352
Over $4 Million
1
$20,000,000
$20,000,000
38
$282,711,313
$753,897
229
SALES
RESIDENTIAL TOTAL: Single Family
80
$112,518,606
$1,406,483
237
426
Condo/Twnhm
188
$105,616,632
$561,791
159
280
Land
106
$64,576,075
$420,529
352
Under $500,000 $2,000,001 to $2,500,000 Over $4 Million
$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% 5%
1%
4%
4%
21%
9%
10%
# OF TRANSACTIONS
7%
56%
12%
SALES VOLUME
17%
22% 10% 20%
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MARKET DETAILS | TOTALS 2016 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 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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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.