As the new year takes off, residential inventory levels in Big Sky tighten for the first time in years. The supply of homes in Big Sky decreased by 15% in December 2009 as compared to December 2008. The number of Big Sky condominiums on the market declined by 5% for the same time period. ERA-Big Sky agents indicate that this effect is a positive result of properties selling.
While listings are decreasing, the inventory that is selling is well-priced “deals of the decade”. Value returns to the Big Sky market with even premier luxury properties offered for a fraction of their former price. Both the average and median sales price for single-family homes decreased in 2009 from over $1,000,000 to $855,234 (Average) and $550,000 (Median). Condominium and townhouse average sales price decreased 53.6% in 2009 from $683,240 to $317,044; median sales declined 48.9% to $245,000.
*Data collected from all members of the Gallatin Association of Realtors MLS.
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Posted by ERA Landmark Real Estate on
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