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Market Watch

Big Sky For Sale!

Posted on December 28, 2009 by ERA Landmark

As dedicated Big Sky agents with decades of experience, we have seen quiet times and crazy periods. We have not always had solid numbers to compare inventory levels, absorption rates and days on the market. 2006 saw more companies participating in the Southwest Montana MLS and more consistent sales data. Based on this information, we can better analyze the current market.

  • Residential and land inventory levels continue to be high while second home and investment buyer numbers have fallen.
  • Single family homes sold dropped from a high in 2007 of 57 to 30 homes sold in 2009. Median home prices fell 51% when comparing 2009 to 2007.
  • Condominium sales peaked in 2006 with 91 units reported sold and a median sales price of $400,000. Year to date 2009 condo sales reflect 50 units sold with a median sales price of $257,500. (Based on SW MT MLS for Big Sky and Gallatin Canyon Areas)

The good news in these statistics is that current prices and inventory levels offer motivated buyers choices as well as strong values at a phenomenal recreational resort. If you would like information on opportunities in the Big Sky, Montana market, please call 406.995.3444. We represent a complete perspective of the marketplace with all properties available including short sales, bank-owned and distressed sales. We look forward to helping you find your piece of the Big Sky!

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