As February transitions into March, the residential inventory of single-family homes in the Big Sky market maintains a level close to last year at this time. In previous months, the inventory level has declined; however, the slight increase is viewed as a positive in the general trend of inventory constricting.
The supply of condominiums in Big Sky decreased 9% in February 2010 as compared to February 2009. The supply of condominiums is directly related to inventory sales and pricing. As pricing declines, fewer sellers are motivated to sell and inventory tightens. The average sold price of condominiums (January-February of 2010) is $307,984 with a low sale price of $62,000 and a high sale price of $930,000. 13 units have sold in this market sector in the first two months of 2010; 23% of the units sold were foreclosures while the majority of units sold were standard sales.
*Data collected from all members of the Gallatin Association of Realtors MLS.
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