2009 Big Sky Sotheby’s International Realty Market Report
19 Meadow Village Drive 123 Lone Peak Drive, Unit 5 Big Sky, Montana 59716 866.995.2211 | bigskysothebysrealty.com
Post Office Box 160056 Big Sky, Montana 59716 t 406.995.2211 866.995.2211 f 406.995.4511 bigskysothebysrealty.com
W
elcome to the first annual Big Sky Sotheby’s International Realty Market Report. This report has been designed as a comprehensive analysis of the entire Big Sky Real Estate market with data compiled from whole calendar years beginning with 2006. As you read this report please note that it wasn’t until January of 2008 that all of the local real estate companies became members of the Gallatin Association of Realtors Multiple Listing Service. The 2006 and 2007 numbers may be a bit skewed as we were reliant on facts and figures based on that limited MLS membership. In 2008 the average sales price was $998,273 while in 2009 it was $558,081, a drop of nearly 45%. The huge drop was partly due to a number of short sales and bank owned property sales that closed at prices substantially less than previously seen in this market. In addition, these early distressed properties/sales were primarily of lower end homes and condos. Today, however, short sales and foreclosures are appearing in all price ranges throughout the resorts. This report indicates that we are in the midst of the perfect Buyer’s market here in Big Sky. We are very enthusiastic about bringing you the significant opportunities that will present themselves in 2010. We hope that you find this report interesting and informative. Please call us with questions. We are pleased to offer you this in depth analysis and hope that it will help you in your real estate decisions in the Big Sky area. Best regards,
Cathy Gorman Owner and Managing Member, Big Sky Sotheby’s International Realty report@bigskysothebysrealty.com
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.
2009 Big Sky Sotheby’s International Realty Market Report 1
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THE GREATER BIG SKY AREA
Number of Sales by Year 200 180 160 140 120 100 80 60 40 20 0 2006
2007
2008
2009
Sales Volume Comparison $160,000,000 $140,000,000 $120,000,000 $100,000,000 $80,000,000 $60,000,000 $40,000,000 $20,000,000 $0 2006
2007
2008
2009
All Areas Comparison | 2009 Big Sky Sotheby’s International Realty Market Report 2
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THE GREATER BIG SKY AREA
Avg. Sold vs. Original List Price Comparison $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $0 2006
2007 AVG. SALE
2008
2009
AVG. ORG. LIST
Sale Price/List Price Ratio 100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% 2006
2007
2008
2009
All Areas Comparison | 2009 Big Sky Sotheby’s International Realty Market Report 3
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THE GREATER BIG SKY AREA GREATER BIG SKY AREA SINGLE-FAMILY 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $76,070,500 -13.99 $65,425,750 -16.57 $54,583,500 -36.77 $34,512,715
AVG. DAYS # OF SALES ON MARKET 47 98 -4.26 85.71 45 182 -33.33 36.26 30 248 10.00 3.23 33 256
AVG. SALE $1,603,448 -12.28 $1,406,515 43.27 $2,015,173 -51.59 $975,645
HIGH SALE $4,250,000 1.18 $4,300,000 15.70 $4,975,000 -16.11 $4,173,715
LOW SALE $330,000 -54.24 $151,000 55.63 $235,000 6.38 $250,000
MEDIAN SALE $1,590,000 -22.17 $1,237,500 46.16 $1,808,750 -59.75 $728,000
CONDOMINIUM/TOWNHOME 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $48,539,626 13.55 $55,115,238 -31.84 $37,564,284 -46.76 $19,998,150
AVG. DAYS # OF SALES ON MARKET 96 68 -25.00 183.82 72 193 -19.44 71.50 58 331 1.72 -16.31 59 277
AVG. SALE $479,209 36.64 $654,776 -1.09 $647,660 -46.72 $345,042
HIGH SALE $2,500,000 -11.00 $2,225,000 24.94 $2,780,000 -46.04 $1,500,000
LOW SALE $129,900 7.78 $140,000 -70.00 $42,000 66.67 $70,000
MEDIAN SALE $390,000 16.54 $454,500 3.40 $469,950 -46.80 $250,000
LAND 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $25,972,000 -19.95 $20,790,750 32.97 $27,644,937 -63.01 $10,226,550
AVG. DAYS # OF SALES ON MARKET 34 114 -35.29 129.82 22 262 45.45 28.24 32 336 -25.00 -36.61 24 213
AVG. SALE $763,882 23.71 $945,034 -5.75 $890,667 -54.29 $407,116
HIGH SALE $2,175,000 -8.05 $2,000,000 250.00 $7,000,000 -88.57 $800,000
LOW SALE $249,000 -9.64 $225,000 -38.67 $138,000 -61.59 $53,000
MEDIAN SALE $620,000 36.49 $846,250 -28.80 $602,500 -35.68 $387,500
TOTAL SALES 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES AVG. DAYS VOLUME # OF SALES ON MARKET $150,582,126 177 86 -6.14 -21.47 133.72 $141,331,738 139 201 -15.24 -13.67 51.24 $119,792,721 120 304 -45.96 -3.33 -16.78 $64,737,415 116 253
AVG. SALE $850,746 19.52 $1,016,775 -1.82 $998,273 -44.10 $558,081
HIGH SALE $8,925,000 -51.82 $4,300,000 62.79 $7,000,000 -40.38 $4,173,715
LOW SALE $708,900 -80.25 $140,000 -70.00 $42,000 26.19 $53,000
MEDIAN SALE $902,009 25.67 $1,133,532 -4.22 $1,085,691 -29.26 $768,053
The Greater Big Sky Area | 2009 Big Sky Sotheby’s International Realty Market Report 4
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THE MOUNTAIN THE MOUNTAIN SINGLE-FAMILY 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME
AVG. DAYS # OF SALES ON MARKET
$51,146,000 -36.53 $32,461,250 20.17 $39,009,500 -53.76 $18,037,715
28 -50.00 14 28.57 18 -27.78 13
63 260.32 227 16.74 265 38.87 368
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$1,826,643 26.94 $2,318,661 -6.53 $2,167,194 -35.98 $1,387,517
$3,375,000 27.41 $4,300,000 -6.98 $4,000,000 4.34 $4,173,715
$700,000 5.00 $735,000 4.08 $765,000 -28.89 $544,000
$1,700,000 16.18 $1,975,000 -6.42 $1,848,250 -39.94 $1,110,000
CONDOMINIUM/TOWNHOME 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $26,708,950 51.04 $40,342,082 -36.46 $25,632,980 -55.66 $11,366,500
AVG. DAYS # OF SALES ON MARKET 47 65 -27.66 180.00 34 182 -17.65 69.23 28 308 -7.14 19.48 26 368
AVG. SALE $568,276 108.80 $1,186,532 -22.85 $915,464 -52.25 $437,173
HIGH SALE $2,500,000 -11.00 $2,225,000 24.94 $2,780,000 -46.04 $1,500,000
LOW SALE $129,900 7.78 $140,000 46.43 $205,000 -67.56 $66,500
MEDIAN SALE $330,000 257.20 $1,178,750 -46.34 $632,500 -40.71 $375,000
LAND 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $14,780,000 3.74 $15,332,500 -24.05 $11,645,000 -58.12 $4,876,750
AVG. DAYS # OF SALES ON MARKET 11 51 0.00 403.92 11 257 18.18 -0.78 13 255 -7.69 2.75 12 262
AVG. SALE $1,343,636 3.72 $1,393,684 -35.73 $895,769 -54.63 $406,396
HIGH SALE $2,175,000 -8.05 $2,000,000 -9.00 $1,820,000 -56.04 $800,000
LOW SALE $610,000 36.07 $830,000 -45.78 $450,000 -62.22 $170,000
MEDIAN SALE $1,400,000 -14.29 $1,200,000 -31.25 $825,000 -63.23 $303,375
PRICE PER SQUARE FOOT COMPARISON - MOUNTAIN HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $999 $1,153 $820 $1,147 $443 $469 $539 $526 $684 $732
2008 $890 $855 $412 $500 $637
2009 $566 $554 $165 $208 $361
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $631 $682 $1,145 $625 $614 $750 $253 $267 $185 $263 $243 $203 $438 $459 $455
2009 $379 $367 $109 $159 $248
The Mountain area includes: Alpenglow, Alpine Meadow Chalets, Alpine Meadows Duplex, Arrowhead, Beaverhead, Beehive Basin, Big Horn, Big Horn, Black Eagle Lodges, Cascade, Cedar Creek, Cowboy Heaven, Diamond Hitch, Elkhorn Creek, Elkridge (The Club), Hill, Homestead Cabins, Lone Moose Meadows, Luxury Suites, Moonlight Mountain Homes, Powder Ridge, Saddle Ridge, Settlement Cabins, Shoshone, Ski Tip Glades, Skycrest Condos, Snowcrest, Stillwater, Strawberry Ridge, Summit Hotel, Summit View, The Yellowstone Club, Timber Ridge, Ulery’s Lakes, Village Center, etc.
The Mountain | 2009 Big Sky Sotheby’s International Realty Market Report 5
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THE MEADOW VILLAGE MEADOW VILLAGE / TOWN CENTER SINGLE-FAMILY
SALES VOLUME
AVG. DAYS # OF SALES ON MARKET
2006 $12,475,000 % CHANGE 116.90 2007 $27,058,500 % CHANGE -64.50 2008* $9,605,000 % CHANGE -13.39 2009 $8,319,000
9 155.56 23 -78.26 5 120.00 11
159 28.30 204 42.65 291 -16.84 242
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$1,386,111 -15.13 $1,176,457 63.29 $1,921,000 -60.63 $756,273
$2,750,000 39.45 $3,835,000 29.73 $4,975,000 -52.76 $2,350,000
$615,000 -26.83 $450,000 17.78 $530,000 -38.30 $327,000
$1,295,000 -43.98 $725,500 65.40 $1,200,000 -42.92 $685,000
CONDOMINIUM/TOWNHOME 2006 % CHANGE 2007 % CHANGE 2008* % CHANGE 2009
SALES VOLUME $20,935,676 -33.91 $13,835,656 -13.76 $11,931,304 -27.66 $8,631,650
AVG. DAYS # OF SALES ON MARKET 48 74 -22.92 163.51 37 195 -18.92 81.03 30 353 10.00 -48.73 33 181
AVG. SALE $436,160 -14.27 $373,937 6.36 $397,710 -34.23 $261,565
HIGH SALE $845,000 5.92 $895,000 16.20 $1,040,000 -16.83 $865,000
LOW SALE $140,000 25.71 $176,000 -76.14 $42,000 138.10 $100,000
MEDIAN SALE $413,500 -16.57 $345,000 7.54 $371,000 -35.98 $237,500
LAND 2006 % CHANGE 2007 % CHANGE 2008* % CHANGE 2009
SALES VOLUME $8,187,000 -43.10 $4,658,250 168.62 $12,513,000 -75.05 $3,121,800
AVG. DAYS # OF SALES ON MARKET 17 124 -47.06 131.45 9 287 22.22 53.31 11 440 -45.45 -71.82 6 124
AVG. SALE $481,588 7.47 $517,583 119.78 $1,137,545 -54.26 $520,300
HIGH SALE $1,047,500 -17.66 $862,500 711.59 $7,000,000 -90.69 $651,800
LOW SALE $360,000 -37.50 $225,000 -38.67 $138,000 99.28 $275,000
MEDIAN SALE $370,000 66.22 $615,000 -18.70 $500,000 10.00 $550,000
PRICE PER SQUARE FOOT COMPARISON - MEADOW HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $765 $721 $567 $600 $198 $193 $272 $288 $422 $363
2008 $948 $438 $221 $299 $444
2009 $547 $277 $147 $150 $239
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $367 $411 $302 $365 $394 $289 $174 $198 $164 $192 $203 $170 $262 $280 $222
2009 $644 $247 $106 $108 $182
The Meadow Village / Town Center area includes: Antler Ridge, Aspen Groves, Big EZ Estates, Deer Run, Firelight Meadows, Grey Drake, Hidden Village, Lost Trails, Meadow Village, Moon Dance, Moose Ridge, Northfork, Ousel Falls Estates, Pinewood Hills, Skywood Preserve, Sleeping Bear Road, Southfork, Spanish Peaks North, Sweetgrass Hills, The Ranches, Town Center, Westfork, Wildridge, etc.
The Meadow Village / Town Center | 2009 Big Sky Sotheby’s International Realty Market Report 6
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GALLATIN CANYON GALLATIN CANYON SINGLE-FAMILY
SALES VOLUME
AVG. DAYS # OF SALES ON MARKET
2006 $12,449,500 % CHANGE -52.56 2007 $5,906,000 % CHANGE 1.07 2008 $5,969,000 % CHANGE 36.64 2009 $8,156,000
10 -20.00 8 -12.50 7 28.57 9
145 -31.03 100 18.00 118 -37.29 74
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$1,244,950 -40.70 $738,250 15.50 $852,714 6.28 $906,222
$4,250,000 -61.18 $1,650,000 39.39 $2,300,000 80.43 $4,150,000
$300,000 -49.67 $151,000 55.63 $235,000 6.38 $250,000
$687,500 -16.18 $576,250 17.14 $675,000 -33.33 $450,000
CONDOMINIUM/TOWNHOME SALES VOLUME $895,000 4.75 $937,500 -100.00 $0 0.00 $0
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 1 82 0.00 36.59 1 112 -100.00 -100.00 0 0 0.00 0.00 0 0
AVG. SALE $895,000 4.75 $937,500 -100.00 $0 0.00 $0
HIGH SALE $895,000 4.75 $937,500 -100.00 $0 0.00 $0
LOW SALE $895,000 4.75 $937,500 -100.00 $0 0.00 $0
MEDIAN SALE $895,000 4.75 $937,500 -100.00 $0 0.00 $0
LAND
SALES VOLUME $3,005,000 -73.38 $800,000 335.87 $3,486,937 -36.10 $2,228,000
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 6 200 -66.67 -7.00 2 186 300.00 39.78 8 260 -25.00 38.08 6 359
AVG. SALE $500,833 -20.13 $400,000 8.97 $435,867 -14.81 $371,333
HIGH SALE $825,000 -33.33 $550,000 35.44 $744,937 -6.03 $700,000
LOW SALE $250,000 0.00 $250,000 -28.00 $180,000 -70.56 $53,000
MEDIAN SALE $427,500 -6.43 $400,000 2.75 $411,000 -2.68 $400,000
PRICE PER SQUARE FOOT COMPARISON - CANYON HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $893 $625 $566 $593 $226 $332 $229 $372 $374 $397
2008 $426 $342 $133 $172 $261
2009 $617 $239 $89 $150 $216
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $433 $373 $0 $433 $373 $0 $433 $373 $0 $433 $373 $0 $433 $373 $0
2009 $0 $0 $0 $0 $0
The Gallatin Canyon area includes: Bear Paw Ponds, Beaver Creek South, Beaver Creek West, Beckman Flats, Buck Ridge Ranch, Cinnamon, Danza Estates, Elk Ridge Ranch, Michner Meadows, Parkview West, Porcupine Park, Rainbow Ranch, Ramshorn View Estates, San Marino, etc.
Gallatin Canyon | 2009 Big Sky Sotheby’s International Realty Market Report 7
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RESORT AREA COMPARISONS
Average Sales Price Comparison
$6,000,000 $5,000,000 $4,000,000 $3,000,000 $2,000,000 $1,000,000 $0 2006
2007
Big Sky Resort
2008
2009
Moonlight Basin Resort
The Club at Spanish Peaks Resort
* No data for The Yellowstone Club
Sales Volume Comparison Big Sky Resort
Moonlight Basin Resort
The Club at Spanish Peaks Resort * No data for The Yellowstone Club
$71,450,000 $64,735,000
$38,424,000 $29,690,850
$24,898,332
$18,408,250
$18,247,630
$17,694,950
$11,090,515 $6,639,000
$6,581,250
$1,047,500 2006
2007
2008
2009
Units Sold Comparison
50 40 30 20 10 0 2006
2007
Big Sky Resort
2008
Moonlight Basin Resort
2009 The Club at Spanish Peaks Resort * No data for The Yellowstone Club
Resort Areas | 2009 Big Sky Sotheby’s International Realty Market Report 8
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THE MOUNTAIN VILLAGE / BIG SKY SKI RESORT THE MOUNTAIN VILLAGE / BIG SKY RESORT SINGLE-FAMILY
SALES VOLUME
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET
$0 0.00 $8,643,750 -75.70 $2,100,000 341.67 $9,275,000
0 0.00 5 -80.00 1 700.00 8
0 0.00 115 -93.04 8 4975.00 406
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$0 0.00 $1,728,750 21.48 $2,100,000 -44.79 $1,159,375
$0 0.00 $2,037,500 3.07 $2,100,000 11.90 $2,350,000
$0 0.00 $1,422,500 47.63 $2,100,000 -67.86 $675,000
$0 0.00 $1,800,000 16.67 $2,100,000 -52.50 $997,500
CONDOMINIUM/TOWNHOME 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $16,339,950 -0.52 $16,254,582 -15.39 $13,752,630 -43.89 $7,716,500
AVG. DAYS # OF SALES ON MARKET 35 60 -42.86 210.00 20 186 10.00 39.78 22 260 0.00 32.31 22 344
AVG. SALE $467,713 73.77 $812,729 -23.08 $625,120 -43.89 $350,750
HIGH SALE $1,800,000 6.94 $1,925,000 -31.17 $1,325,000 -18.87 $1,075,000
LOW SALE $129,900 7.78 $140,000 46.43 $205,000 -67.56 $66,500
MEDIAN SALE $290,000 180.17 $812,500 -32.31 $550,000 -45.45 $300,000
LAND
SALES VOLUME $1,355,000 -100.00 $0 0.00 $2,395,000 -40.85 $1,416,750
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 2 41 -100.00 -100.00 0 0 0.00 0.00 4 107 25.00 22.43 5 131
AVG. SALE $677,500 -100.00 $0 0.00 $598,750 -52.68 $283,350
HIGH SALE $745,000 -100.00 $0 0.00 $1,000,000 -69.33 $306,750
LOW SALE $610,000 -100.00 $0 0.00 $450,000 -44.44 $250,000
MEDIAN SALE $677,500 -100.00 $0 0.00 $472,500 -36.51 $300,000
PRICE PER SQUARE FOOT COMPARISON - BIG SKY RESORT HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $0 $638 $0 $511 $0 $377 $0 $456 $0 $488
2008 $412 $412 $412 $412 $412
2009 $415 $332 $165 $209 $280
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $631 $682 $638 $601 $627 $585 $258 $191 $185 $263 $249 $203 $424 $424 $386
2009 $379 $332 $106 $159 $222
The Mountain Village / Big Sky Resort | 2009 Big Sky Sotheby’s International Realty Market Report 9
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MOONLIGHT BASIN RESORT MOONLIGHT BASIN RESORT SINGLE-FAMILY
SALES VOLUME
AVG. DAYS # OF SALES ON MARKET
2006 $48,446,000 % CHANGE -27.29 2007 $35,227,500 % CHANGE -49.29 2008 $17,865,500 % CHANGE -77.39 2009 $4,039,000
27 -44.44 15 -40.00 9 -55.56 4
63 253.97 223 45.74 325 -56.62 141
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$1,794,296 30.89 $2,348,500 -15.48 $1,985,056 -49.13 $1,009,750
$3,375,000 27.41 $4,300,000 -6.98 $4,000,000 -63.75 $1,450,000
$700,000 5.00 $735,000 4.08 $765,000 -28.89 $544,000
$1,700,000 19.12 $2,025,000 -8.64 $1,850,000 -44.73 $1,022,500
CONDOMINIUM/TOWNHOME SALES VOLUME $9,579,000 68.47 $16,137,500 -51.79 $7,780,350 -72.04 $2,175,000
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 9 63 11.11 209.52 10 195 -60.00 204.10 4 593 -50.00 2.53 2 608
AVG. SALE $1,064,333 51.62 $1,613,750 20.53 $1,945,088 -44.09 $1,087,500
HIGH SALE $2,500,000 -11.00 $2,225,000 1.12 $2,250,000 -33.33 $1,500,000
LOW SALE $779,000 54.04 $1,200,000 6.70 $1,280,350 -47.28 $675,000
MEDIAN SALE $850,000 79.41 $1,525,000 39.34 $2,125,000 -48.82 $1,087,500
LAND
SALES VOLUME $13,425,000 -0.41 $13,370,000 -69.75 $4,045,000 -89.49 $425,000
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 9 53 0.00 381.13 9 255 -66.67 -45.10 3 140 -66.67 172.86 1 382
AVG. SALE $1,491,667 -0.41 $1,485,556 -9.24 $1,348,333 -68.48 $425,000
HIGH SALE $2,175,000 -8.05 $2,000,000 -9.00 $1,820,000 -76.65 $425,000
LOW SALE $750,000 40.00 $1,050,000 -18.86 $852,000 -50.12 $425,000
MEDIAN SALE $1,500,000 -15.00 $1,275,000 9.80 $1,400,000 -69.64 $425,000
PRICE PER SQUARE FOOT COMPARISON - MOONLIGHT BASIN HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $999 $1,058 $820 $855 $443 $568 $545 $578 $689 $751
2008 $890 $748 $534 $577 $679
2009 $566 $496 $302 $496 $455
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $625 $742 $750 $588 $693 $688 $465 $521 $536 $466 $563 $556 $514 $626 $633
2009 $361 $321 $321 $361 $341
Moonlight Basin Resort | 2009 Big Sky Sotheby’s International Realty Market Report 10
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THE CLUB AT SPANISH PEAKS RESORT THE CLUB AT SPANISH PEAKS RESORT SINGLE-FAMILY
SALES VOLUME
AVG. DAYS # OF SALES ON MARKET
2006 $0 % CHANGE 0.00 2007 $1,118,500 % CHANGE 2047.43 2008 $24,019,000 % CHANGE -70.55 2009 $7,073,715
0 0.00 4 125.00 9 -77.78 2
0 0.00 283 -11.31 251 128.29 573
AVG. SALE
HIGH SALE
LOW SALE
MEDIAN SALE
$0 0.00 $2,796,250 -4.56 $2,668,778 32.53 $3,536,858
$0 0.00 $3,835,000 29.73 $4,975,000 -16.11 $4,173,715
$0 0.00 $1,700,000 -1.00 $1,683,000 72.31 $2,900,000
$0 0.00 $2,825,000 -34.64 $1,846,500 91.54 $3,536,858
CONDOMINIUM/TOWNHOME SALES VOLUME $0 0.00 $0 0.00 $4,100,000 -100.00 $0
2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
AVG. DAYS # OF SALES ON MARKET 0 0 0.00 0.00 0 0 0.00 0.00 2 258 -100.00 -100.00 0 0
AVG. SALE $0 0.00 $0 0.00 $2,050,000 -100.00 $0
HIGH SALE $0 0.00 $0 0.00 $2,780,000 -100.00 $0
LOW SALE $0 0.00 $0 0.00 $1,320,000 -100.00 $0
MEDIAN SALE $0 0.00 $0 0.00 $2,050,000 -100.00 $0
LAND 2006 % CHANGE 2007 % CHANGE 2008 % CHANGE 2009
SALES VOLUME $1,047,500 421.50 $5,462,750 88.64 $10,305,000 -61.02 $4,016,800
AVG. DAYS # OF SALES ON MARKET 1 127 600.00 115.75 7 274 100.00 66.79 14 457 -50.00 -55.80 7 202
AVG. SALE $1,047,500 -25.50 $780,393 -5.68 $736,071 -22.04 $573,829
HIGH SALE $1,047,500 8.11 $1,132,500 19.21 $1,350,000 -40.74 $800,000
LOW SALE $1,047,500 -41.29 $615,000 -30.89 $425,000 -30.59 $295,000
MEDIAN SALE $1,047,500 -25.50 $780,393 -10.62 $697,500 -18.28 $570,000
PRICE PER SQUARE FOOT COMPARISON - THE CLUB AT SPANISH PEAKS HIGH 2ND HIGHEST LOW 2ND LOWEST AVERAGE
SINGLE-FAMILY 2006 2007 $0 $709 $0 $570 $0 $385 $0 $554 $0 $554
2008 $948 $754 $565 $754 $756
2009 $554 $538 $538 $554 $546
CONDOMINIUM/TOWNHOUSE 2006 2007 2008 $0 $507 $1,145 $0 $507 $577 $0 $507 $145 $0 $507 $577 $0 $507 $861
2009 $367 $356 $359 $367 $362
The Club at Spanish Peaks Resort | 2009 Big Sky Sotheby’s International Realty Market Report 11
bigskysothebysrealty.com
WESTERN MOUNTAIN RESORT AREA COMPARISONS Western Mountain Resort Alliance 2009 - Active Listings vs. Units Sold 4,500 4,000 3,500 3,000 2,500 2,000
Active Listings
1,500
Units Sold
1,000 500 -
(*) In Canadian Dollars (**) Disclosure Undisclosed sales are reported at 95% of list price
Western Mountain Resort Alliance 2009 - Average Sales Price $3,000,000 $2,500,000 $2,000,000 $1,500,000
Homes Condos
$1,000,000
Land
$500,000 $-
(*) In Canadian Dollars (**) Disclosure Undisclosed sales are reported at 95% of list price
Western Mountain Resort Alliance | 2009 Big Sky Sotheby’s International Realty Market Report 12
bigskysothebysrealty.com
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