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Market Watch

Big Sky For Sale! Big Sky Market Stats

Posted on January 27, 2010 by ERA Landmark

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 15% 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 the 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 Gallatin Association of Realtors MLS.


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