1ST QUARTER MARKET REPORT 2019 · Big Sky, Montana
O UR TAK E O N T H E MAR K E T We hope that you enjoy our 1st Quarter Market Report in which we compare real estate sales activity in the first quarter of the current year to that of last year. January, February, March and the first few weeks of April comprise the majority of the very active Winter Season. June, July, August and September comprise the months of our bustling Summer Season. Total closed sales in the first quarter are down from 82 in 2018 to 75. This decrease is most likely due to the decreased inventory currently on the market in Big Sky. Inventory numbers are at a 15 year low and while we have many clients who want to buy, inventory has made it somewhat difficult to find a property for some Buyers. Even though our closed sales have decreased by seven units, our total gross sales volume has increased from $58,022,643 in the first quarter of 2018 to $65,133,613 in the first quarter of 2019. In addition, both average sales price and median sales price have increased considerably. Home sales increased slightly in the first quarter of 2019 over the first quarter of 2018, but condominium and lands sales were down. We continue to be very positive about the market in Big Sky. There has been so much growth and optimism in Big Sky in the past few years, and Buyers are still enjoying what we believe is the “ground level” in Big Sky’s exciting future! Please call one of our Big Sky team members for more information on how you can make Big Sky your home away from home! Sincerely, Your PureWest Christie’s International Real Estate of Big Sky Team
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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.
BI G S KY, M O N TA N A
2019 1 ST QUARTER MARKET REPORT
M A R K E T
U P D A T E
•
Q U I C K
S T A T S
A side-by-side comparison of all real estate sales in Big Sky, Montana from January 1st through March 31st in 2017, 2018, and 2019.
January 1 - March 31 BIG SKY
2017
2018
2019
Total Closed Sales
78
82
75
Total Gross Volume
$51,283,712
$58,022,643
$65,133,613
Average Price
$657,483
$725,283
$868,448
Median Price
$412,500
$477,250
$550,000
Average % Sold Price to List Price
92%
97.5%
96.9%
Average Days on the Market
276
232
204
Lowest Price
$115,000
$125,000
$125,000
Highest Price
$3,000,000
$3,750,000
$5,150,000
*Excludes Yellowstone Club sales
B I G S K Y P U R E W E S T. C O M • 4 0 6 - 9 9 5 - 4 0 0 9
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C O M P A R E D
B Y
P R O P E R T Y
T Y P E
Comparison of real estate sales by property type in Big Sky, Montana from January 1st through March 31st in 2017, 2018, and 2019. Property types included are Single Family Homes, Condominiums and Land.
SINGLE FAMILY HOMES 2017
2018
2019
Number of Properties Sold
12
17
18
Total Gross Volume
$13,802,889
$25,570,658
$30,363,113
Mountain Properties Sold
3
10
8
Meadow Properties Sold
5
3
9
Canyon Properties Sold
4
4
1
Average Price
$1,150,240
$1,826,476
$1,686,840
Median Price
$722,500
$1,960,000
$1,575,000
Lowest Price
$350,000
$489,000
$689,000
Highest Price
$3,000,000
$3,750,000
$3,836,113
Š PEAK PHOTOGRAPHY
*Excludes Yellowstone Club, commercial, and Forest Service Leases 3
CONDOMINIUMS
LAND
2017
2018
2019
2017
2018
2019
41
39
37
22
22
20
$26,133,201
$18,511,955
$16,174,500
$8,082,625
$9,850,030
$18,596,000
23
22
24
11
10
12
18
17
12
8
11
7
-
-
-
3
1
1
$637,395
$474,666
$445,014
$387,392
$447,729
$929,800
$415,000
$358,000
$386,750
$300,000
$320,000
$457,500
$115,000
$125,000
$125,000
$120,000
$155,000
$148,000
$2,500,000
$1,750,000
$1,100,000
$1,300,000
$1,800,000
$5,150,000
B I G S K Y P U R E W E S T. C O M • 4 0 6 - 9 9 5 - 4 0 0 9
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BI G S KY, M O N TA N A
2019 1 ST QUARTER 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
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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.
www.BigSkyPureWest.com
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Every time.
88 Ousel Falls Road, Suite B Big Sky, MT 59716 • www.BigSkyPureWest.com • 406.995.4009