ANNUAL MARKET REPORT 2019 · 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 Big Sky Country MLS 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
2019 BIG SKY
real estate trends UNITS sold 2015
306
2016
316
2017
388
2018
OUR TAKE ON THE MARKET The 2019 Real Estate year in Big Sky was another record-setter for our growing community! The gross sales volume was up 6.2% over 2018, ending up at a total of $357,684,529 for 371 closed units. We continue to experience low inventory in most categories and locations, with the average days on the market decreasing drastically from those of 2018 in all property categories. The average sales price of property increased 12.6% over 2018 to $964,109, while the median sales price remained the same at $565,000.
397
2019
371
ACTIVE listings 2015
445
2016
434
2017
387
2018
291
2019
GROSS
297
$357,684,529 $335,376,169
sales volume IN BIG SKY
$264,777,333
$207,385,346 $182,376,331
2015 2
2016
2017
2018
2019
2019 MARKET REPORT
2019 BIG SKY
real estate trends
AVERAGE sales price
$964,109
$842,654
$656,282
$688,588
$596,001
See page 5 for average sales price by neighborhood.
2015
2016
2017
2018
2019
MEDIAN sales price
$366,000
$358,500
$417,250
2015
2016
2017
$565,000
$565,000
2018
2019
AVERAGE days on the market homes
condos/townhomes
land
155
97
304
DAYS
DAYS
DAYS
*All statistics have been taken from the Big Sky Country 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.
by price point
SPANISH PEAKS MOUNTAIN CLUB
9% (11%)
Under $199,000 24% (25%) $200,000 - $399,000
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.
18% (17%) $400,000 - $599,000 12% (15%) $600,000 - $799,000 11% (8%) $800,000 - $999,000 8% (7%) $1,000,000 - $1,499,000
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.
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.
6% (8%) $1,500,000 - $1,999,000 5% (5%) $2,000,000 - $2,999,999 3% (3%)
$3,000,000 - $3,999,999
4% (1%) $4,000,000 and Above 2018 percentages in parenthesis.
by neighborhood 6% (10%) Canyon 41% (42%)
Meadow
9% (8%) Spanish Peaks Mountain Club 14% (9%)
Moonlight Basin 30% (31%) Mountain
2018 percentages in parenthesis.
*All statistics have been taken from the Big Sky Country 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.
MOONLIGHT
2019 MARKET REPORT
basin
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$2,062,500
20
$56,951,467
$823.75
21
$39,906,998
$692.65
11
$10,867,500
$779,921
HOMES
$2,847,573
$2,303,985 $2,048,601
($1,725,000)
(18)
($39,167,753)
($776.62)
$1,575,913 $1,662,267
2015
2016
2017
2018
2019
CONDOS/TOWNHOMES
$1,900,333
$1,875,000
$1,264,961
($981,356)
$1,016,000
(15)
($15,716,965)
($642.07)
$1,047,798
$667,388
2015
2016
2017
2018
2019
$1,213,000
LAND
$1,165,000
$950,000 ($900,000)
$1,071,667
($522,892)
$987,955
$975,000
2015
(5)
($6,065,000)
2016
2017
2018
2019 2018 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
PPSF or PPA
$3,400,000
15
$52,921,793
$836.65
HOMES
$3,528,116
$2,967,857 $2,885,846 $2,463,750
2015
($2,471,000)
(13)
($37,516,000)
($694.52)
$2,342,563
2016
2017
2018
2019
$2,548,333
CONDOS/TOWNHOMES
N/A $2,516,667
$2,257,571
2016
0
$675,000
20
($2,650,000)
$2,257,333
2015
No Condo Sales
2017
2018
(3)
N/A
N/A
($7,645,000)
($775.40)
$18,710,500
$452,326
2019
LAND
$935,525
$732,143
($575,000)
$543,611 $576,933
(15)
($8,654,000)
($382,256)
$439,500
2015
2016
2017
2018
2019 2018 percentages in parenthesis.
6
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2019 MARKET REPORT
MOUNTAIN
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$3,125,000
2
$6,250,000
$583.26
$466,000
82
$49,492,100
$398.67
26
$11,744,500
$247,194
HOMES
$3,125,000
$2,178,790 $1,714,103
($1,997,500)
$1,762,912
(8)
($17,430,319)
($492.73)
$1,213,750
2015
2016
2017
2018
2019
CONDOS/TOWNHOMES
$645,976
$603,562
$448,115
$472,069
($520,000)
$381,908
2015
2016
2017
2018
(96)
($61,367,754)
($384.04)
2019
$451,712
$443,611
LAND
$451,311 $348,343
$407,500 ($365,000)
$296,180
2015
2016
2017
2018
(19)
($8,574,900)
($317,749)
2019 2018 percentages in parenthesis.
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BIG SKY, MONTANA
MEADOW
village
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$1,005,000
24
$26,395,500
$384.12
$441,000
92
$48,316,325
$303.47
$295,000
16
$8,893,400
$491,875
HOMES
$1,762,912
$1,027,750
$1,222,336 $1,099,813
($795,000)
(33)
($40,337,092)
($356.12)
$826,370
2015
2016
2017
2018
2019
CONDOS/TOWNHOMES
$525,177 $500,132
$411,896 $371,215
($415,000)
(88)
($44,511,710)
($268.12)
$335,097
2015
2016
2017
$428,250
2018
2019
LAND
$410,709
$309,594
($260,000)
(42)
($17,249,776)
($363,496)
$250,943 $216,541
2015
2016
2017
2018
2019 2018 percentages in parenthesis.
8
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2019 MARKET REPORT
BIG SKY
canyon
AVERAGE SALES PRICE
MEDIAN SALES PRICE
NUMBER OF TRANSACTIONS
SALES VOLUME
PPSF or PPA
$799,500
10
$13,625,500
$471.86
9
$9,937,000
$53,864
HOMES
$1,339,900
$804,272
$796,760
$871,795
($735,000)
$800,363
2015
2016
2017
2018
(22)
($19,179,500)
($367.42)
2019
LAND
$1,104,111
$399,000 $312,000
$244,500
$367,545
($345,000)
(11)
($4,043,000)
($363,496)
$227,625
2015
2016
2017
2018
2019 2018 percentages in parenthesis.
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9
BIG SKY, MONTANA
neighborhood
Alpine Chalets: 2 Cowboy Heaven Cabins: 1 Cowboy Heaven: 3 Diamond Hitch: 2 Moonlight Mountain Homes: 5 Silvertip: 3 The Timbers: 4
SPANISH PEAKS MOUNTAIN CLUB
call for pricing
HOMES MOONLIGHT BASIN
CLOSED SALES by
Big EZ: 1 Elkridge: 2
MOUNTAIN
Highlands: 8 Homestead Cabins: 1 Wildridge: 3
10
MEADOW
Antler Ridge: 1 Aspen Groves: 3 Grey Owl: 1 Meadow Village: 10 Ousel Falls: 1
CANYON
Cascade: 1 Summit View: 1
Beavercreek: 3 Beavercreek South: 1 Beavercreek West: 1 Karst: 1
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Skywood Preserve: 1 South Fork Meadows: 2 Sweetgrass Hills: 3 Westfork: 2
Misc. Canyon Homes: 4 Mountain Meadows: 1 Ramshorn: 2
2019 MARKET REPORT
CONDOS/TOWNHOMES
LAND
Cowboy Heaven Luxury Suites: 2 Lodgeside: 9 Moonlight Lodge Penthouse: 1 Saddle Ridge: 6 Ulery’s Lakes: 3
Cowboy Heaven: 1 Diamond Hitch: 4 Jack Creek: 1 Overlook: 4
Big EZ: 1 Elk Ridge: 9 Gallatin Preserve: 1
No Condo Sales
Alpenglow: 5 Arrowhead: 1 Beaverhead: 3 Big Horn: 8 Black Eagle: 3 Cascade Ridge: 2 Cedar Creek: 1 Hill: 18 Homestead Chalets: 1
Ranches: 3 Spring Creek: 2 Wildridge: 4 Wilderness Ridge: 1
Lone Moose Meadows: 3 Mountain Lakes: 2 Powder Ridge: 8 Powder Ridge Fractional: 4 Shoshone: 2 Skycrest: 3 Stillwater: 2 Summit Hotel: 11 Village Center: 4
MEADOW VILLAGE Blue Grouse Hills: 1
Hidden Village: 11
Brownstone: 2
Lone Peak Townhomes: 4
Crail Creek Club: 4
MeadowView: 16
Chase Montana: 1
Cottonwood Crossing: 4 Deer Run: 6
Elevation 6000: 3 Essentia: 3
Firelight: 14 Glacier: 3
Grey Wolf: 3
Madison Court: 4
Beehive: 3 Cascade: 15 Ciel Drive: 2 Joy Drive: 1 Summit View: 4
Antler Ridge: 4 Aspen Groves: 5 Grey Drake: 3 Grey Owl: 1 Meadow Village: 8
Moondance: 2 Ousel Falls: 1 Pine Drive: 1 South Fork: 6
Morning Sun: 2 The Pines: 1
Silverbow: 1
Sky Meadow: 1
Spanish Peaks Club: 5
Townhomes @ Crail Ranch: 2 Yellowstone: 1
Bear Paw Ponds: 1 Beavercreek West: 1 Miscellaneous Canyon Land: 2 Mountain Meadows: 1 Silver Horseshoe: 1 Towering Pines: 1
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11
BIG SKY, MONTANA
2019 BIG SKY
real estate trends
HISTORICAL active listing volume $679,947,055 $616,715,916 $563,483,919
$470,562,065
2015
2016
2017
Average DOM for
condos has decreased to 97 in 2019, down from 134 in 2018. The Mountain Village area
had the lowest price per
acre in 2019 at $247,194. 12
BIGSKYPUREWEST.COM • 406-995-4009
$482,145,217
2018
2019
2019
list to sale
96.9
%
2019 MARKET REPORT
YOUR TRUSTED EXPERTS FOR Big Sky REAL ESTATE.
JACKIE MILLER
LYNN MILLIGAN
MARY WHEELER
WILLIAM FEHER
Broker jackie@purewestproperties.com 406-539-5003
Broker mwheelerbigsky@gmail.com 406.539.1745
Broker lynnebrush@gmail.com 406-581-2848
Associate william@cascaderidge.com 406-600-0275
SANDY REVISKY Broker sandy@ownbigsky.com 406-539-6316
BRENNA KELLEHER Associate brennakelleher@gmail.com 406-581-3361
MICHAEL THOMAS Broker michael.bigsky@gmail.com 406-581-2400
MIRANDA WHEELER Associate mirandalwheeler@gmail.com 406-640-1655
The foregoing information was obtained from the Big Sky Country MLS 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 The Exchange (Formerly the Mountain Mall)
406.995.5583
www.bigskypurewest.com