ANNUAL MARKET REPORT 2018 · Big Sky, Montana
THANK YOU TO OUR CLIENTS
CONTENTS
02
Big Sky Real Estate Trends
04
Closed Transactions
05
Closed Sales: Moonlight Basin
06
Closed Sales: SPMC
07
Closed Sales: Mountain
08
Closed Sales: Meadow
09
Closed Sales: Canyon
10
Closed Sales by Neighborhood
12
Historical Active Listing Volume
13
Our Real Estate Professionals
The foregoing information was obtained from the Southwest Montana Multiple Listing Service and while deemed reliable is not guaranteed. Independent investigation before purchase is recommended. Price and availablitiy are subject to change without notice. Statistics do not include Yellowstone Club sales.
BIG SKY, MONTANA
2018 BIG SKY
real estate trends UNITS sold 2011
216
2012
220
2013
307
2014
323
2015
306
2016
316
2017
OUR TAKE ON THE MARKET
388
2018
We saw another amazing year of growth here in Big Sky. In 2018, the gross sales volume climbed into the $300 million range topping out at $335,376,169 with 397 closed units. Our active listing volume has continued to decrease hitting its lowest mark since 2009! The average sales price rose from $688,588 in 2017 to $842,654 in 2018, and the median sales price has also risen from $417,250 in 2017 to $565,000 in 2018.
397
ACTIVE listings
2011
536
2012
481
2013
420
2014
415
2015
445
2016
434
2017
387
2018
291 $335,376,169
GROSS
sales volume IN BIG SKY
$264,777,333
$206,873,813
$207,385,346 $182,376,331
$121,850,045 $100,814,181
2011 2
$100,253,263
2012
2013
2014
2015
2016
2017
2018
2018 MARKET REPORT
2018 BIG SKY
real estate trends
AVERAGE sales price $640,476
$455,696
$656,282
$842,654
$688,588
$596,001
$396,905 See page 5 for average sales price by neighborhood.
2012
2013
2014
2015
2016
2017
2018
MEDIAN sales price
$565,000
$417,250
$292,450
$280,000
2012
2013
$364,537
$366,000
$358,500
2014
2015
2016
2017
2018
AVERAGE days on the market homes
condos/townhomes
land
173
134
376
DAYS
DAYS
DAYS
*All statistics have been taken from the local MLS and while deemed reliable, are not guaranteed. **If you are currently working with another agent, this review is not intended to be a solicitation.
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3
CLOSED
Neighborhoods of Big Sky
transactions
MOONLIGHT BASIN
The vacation community you will want to call home - or your home away from home. At Moonlight Basin recreation is limitless with skiing, snowshoeing, golfing, hiking, mountain biking, horseback riding, and so much more.
SPANISH PEAKS MOUNTAIN CLUB
Summertime golf access becomes winter ski access at the Spanish Peaks Mountain Club. This private ski and golf community offers you the perfect mountain lifestyle.
MOUNTAIN
Own on the Mountain and be at the beck and call of all things recreational. From hiking to skiing to horseback riding, the activities are abundant. In the summer take an expedition to the top of Lone Peak with Big Sky Resort, or ski the Montana Coldsmoke during the winter months.
MEADOW
If you love year-round Big Sky activities, the Meadow may be the perfect place for you. Majestic views and community activities are right outside your door and you’re only minutes from the mountain and river activities.
by price point 11% (17%) Under $199,000 25% (31%) $200,000 - $399,000 17% (17%) $400,000 - $599,000 15% (10%) $600,000 - $799,000 8% (4%)
$800,000 - $999,000
7% (10%) $1,000,000 - $1,499,000 8% (4%)
$1,500,000 - $1,999,000
9% (7%) $2,000,000 and up 2017 percentages in parenthesis.
by neighborhood 10% (9%) Canyon 42% (45%) Meadow 8% (7%) Spanish Peaks Mountain Club
CANYON
Gallatin Canyon’s defining feature is the magnificent Gallatin River. Scenic and tranquil yet offering many recreational activities, canyon area real estate speaks to those seeking the quintessential Montana property.
9% (12%) Moonlight Basin 31% (27%) Mountain 2017 percentages in parenthesis.
*All statistics have been taken from the local MLS and while deemed reliable, are not guaranteed. **If you are currently working with another agent, this review is not intended to be a solicitation.
2018 MARKET REPORT
MOONLIGHT
basin
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
$1,725,000
17
$39,167,753
15
$15,716,965
5
$6,065,000
$2,303,985
HOMES
$2,048,601 $1,717,588 $1,662,267
($1,517,500)
$1,575,913
$1,174,142
(18)
($36,167,753)
$995,260
2012
2013
2014
2015
2016
2017
2018
CONDOS/TOWNHOMES
$1,264,961
$1,016,000 $1,047,798
$981,356 ($1,175,000)
$851,250
(14)
($17,709,451)
$800,084
$667,388
$622,421
2012
2013
2014
2015
2016
2017
2018
$1,213,000
LAND
$1,165,000
$1,045,000 $1,071,667
$900,000 ($1,122,500)
$975,000
$859,166
(6)
($6,430,000)
$771,500
2012
2013
2014
2015
2016
2017
2018 2017 percentages in parenthesis.
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5
BIG SKY, MONTANA
SPANISH PEAKS
mountain club
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
$2,471,000
13
$37,516,000
3
$7,550,000
15
$8,654,000
$3,234,285
HOMES
$2,967,857
$2,463,750
$2,885,846
($3,947,500)
$2,342,563
$1,915,000
(8)
($18,740,500)
$1,667,500
2012
2013
2014
2015
2016
2017
2018
CONDOS/TOWNHOMES
$2,548,333 $2,516,667 $2,257,571 $2,257,333
$2,650,000
$1,675,137
($2,500,000)
($7,645,000)
(3)
$1,223,333 $987,500
2012
2013
2014
2015
2016
2017
2018
$732,143
LAND
$543,611 $576,933 $398,750
$575,000
$439,500
($630,500)
$273,500
(14)
($10,250,000)
$188,730
2012
2013
2014
2015
2016
2017
2018 2017 percentages in parenthesis.
6
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2018 MARKET REPORT
MOUNTAIN
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
$1,997,500
8
$17,430,319
$520,000
96
$61,367,754
19
$8,574,900
$2,178,790
HOMES
$1,714,103
($1,725,000)
$1,213,750
$1,116,166
$970,750
$1,762,912
($12,340,386)
(7)
$822,215
2012
2013
2014
2015
2016
2017
2018
CONDOS/TOWNHOMES
$645,976
$472,069
$441,433 $448,115
($269,000)
(77)
($36,349,296)
$381,908
$327,622
$273,229
2012
2013
2014
2015
2016
2017
2018
$451,311 $443,611
LAND
$348,343 $327,214
$365,000 ($350,000)
$296,180 $224,166
(18)
($7,985,000)
$177,500
2012
2013
2014
2015
2016
2017
2018 2017 percentages in parenthesis.
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7
BIG SKY, MONTANA
MEADOW
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
$795,000
33
$40,337,092
88
$44,511,710
42
$17,249,776
SALES VOLUME
HOMES
$1,762,912
$1,027,750
$976,903
$1,222,336
$781,450
($1,725,000)
(7)
($12,340,386)
$826,370 $549,841
2012
2013
2014
2015
2016
2017
2018
CONDOS/TOWNHOMES
$500,132
$411,896
$371,215
$415,000
$330,070
($377,500)
$335,097
(88)
($36,246,855)
$268,289 $225,594
2012
2013
2014
2015
2016
2017
2018
$428,250
LAND
$410,709
$260,000 ($168,000)
$252,647
$241,052
(51)
($11,040,325)
$250,943 $216,541
$218,018
2012
2013
2014
2015
2016
2017
2018 2017 percentages in parenthesis.
8
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2018 MARKET REPORT
BIG SKY
canyon
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
$735,000
22
$19,179,500
$966,478 $871,795
HOMES
$800,363 $804,272
$796,760 $674,990
($773,500)
(18)
($14,476,900)
$246,859
2012
2013
2014
2015
2016
2017
2018 $367,545
LAND
$312,000
$345,000 ($250,000)
$249,093 $244,500
$241,877
11 (15)
$4,043,000 ($3,667,500)
$227,625 $188,821
2012
2013
2014
2015
2016
2017
2018 2017 percentages in parenthesis.
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9
BIG SKY, MONTANA
neighborhood
Cowboy Heaven Cabins: 2 Diamond Hitch: 1 Moonlight Mountain Homes: 7 Silvertip: 2 The Timbers: 5
SPANISH PEAKS MOUNTAIN CLUB
call for pricing
HOMES MOONLIGHT BASIN
CLOSED SALES by
10
MOUNTAIN
Beehive Basin: 1 Cascade: 6 Sleeping Bear: 1
MEADOW
Antler Ridge: 1 South Fork Meadows: 11 Aspen Groves: 2 Spanish Peaks North: 2 Meadow Village: 9 Sweetgrass Hills: 4 Misc. Meadow Homes: 2 Westfork: 2
CANYON
Highlands: 8 Wildridge: 2 Elkridge: 2 Ski Tip: 1
Beavercreek: 3 Karst: 3 Beavercreek South: 1 Misc. Canyon Homes: 4 Big EZ: 1 Parkview West: 1 Castle Rock: 1 Ramshorn View Estates: 8
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2018 MARKET REPORT
CONDOS/TOWNHOMES
LAND
Cowboy Heaven Luxury Suites: 1 Saddle Ridge: 7 Ulery’s Lakes: 7
Cowboy Heaven: 2 High Camp: 2 Jack Creek: 1 Ulery’s Lakes: 1
Elk Ridge: 4 Ranches: 7
Homestead Cabins: 2 Settlement Cabins: 1
Ski Tip Glade: 2 Wildridge: 1 Wilderness Ridge: 1
Alpenglow: 2 Lodges @ Elkhorn Creek: 1 Arrowhead: 4 Lone Moose Meadows: 1 Beaverhead: 5 Mountain Lakes: 10 Big Horn: 8 Powder Ridge: 8 Black Eagle: 3 Shoshone: 4 Cascade Ridge: 3 Skycrest: 3 Cedar Creek: 8 Stillwater: 4 Hill: 22 Summit Hotel: 2 Homestead Chalets: 4 Village Center: 4 MEADOW VILLAGE Aspen Court: 2 Morning Sun: 6 Blue Grouse Hills: 1 Park: 1 Crail Creek Club: 1 The Pines: 4 Cottonwood Crossing: 2 Pine Ridge: 3 Deer Run: 6 Silverbow: 4 Elevation 6000: 3 South Fork: 2 Essentia: 2 Spanish Peaks Club: 3 Firelight: 12 Spruce: 1 Glacier: 3 Townhomes @ Crail Ranch: 2 Grey Wolf: 3 Yellowstone: 6 Hidden Village: 7 Under Par: 2 Lone Peak Townhomes: 4 45 Degrees North: 7
Cascade: 14 Ciel Drive: 1 Summit View: 2
Antler Ridge: 6 Aspen Groves: 4 Gallatin Highlands: 1 Greathorn Ranch: 1 Meadow Village: 5 Moondance: 2
Northfork: 1 Ousel Falls: 5 South Fork: 9 Spanish Peaks North: 2 Stony Creek: 1 Sweetgrass Hills: 4
Misc. Canyon Land: 3
Bear Paw Ponds: 1 Beavercreek: 1 Beavercreek South: 1 Buck Ridge Ranch: 1 Dudley Creek: 1 Elk Ridge Ranch: 1 Porcupine Park: 1 Ramshorn View Estates: 1
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11
BIG SKY, MONTANA
2018 BIG SKY
real estate trends
HISTORICAL active listing volume $679,947,055 $636,016,318 $616,715,916
$482,145,217
$525,229,984 $470,562,065
2013
2014
2015
2016
2018 listing count was the lowest since 2006. Average listing count
in 2018 was 336, down from 431 in 2017.
12
BIGSKYPUREWEST.COM • 406-995-4009
2017
2018
2018
list to sale
97.2
%
2018 MARKET REPORT
YOUR TRUSTED EXPERTS FOR Big Sky REAL ESTATE.
JACKIE MILLER
Broker jackie@purewestproperties.com 406-539-5003
MICHAEL THOMAS Broker michael.bigsky@gmail.com 406-581-2400
LYNN MILLIGAN Broker lynnebrush@gmail.com 406-581-2848
MARY WHEELER
Broker mwheelerbigsky@gmail.com 406.539.1745
SANDY REVISKY Broker sandy@ownbigsky.com 406-539-6316
WILLIAM FEHER
Associate william@cascaderidge.com 406-600-0275
BRENNA KELLEHER Associate brennakelleher@gmail.com 406-581-3361
The foregoing information was obtained from the Southwest Montana Multiple Listing Service and while deemed reliable is not guaranteed. Independent investigation before purchase is recommended. Price and availability subject to change without notice. Statistics do not include Yellowstone Club sales.
BIGSKYPUREWEST.COM • 406-995-4009
13
LOCATIONS Town Center 88 Ousel Falls Road, Suite B Big Sky, MT 59716 406.995.4009
Big Sky Resort Mountain Mall Adjacent to Hummer’s 406.995.5583
www.bigskypurewest.com