September 8th, 2020

Big Sky Condos For Sale

Big Sky Condos For Sale

Big Sky Condos For Sale – Constant Updates – Luxury Townhomes – ‘Want a Big Sky Home?

Big Sky Luxury Condominiums and Townhouses For Sale – Golf – Ski-In-Ski-Out

Big Sky Condo Listings Under $500,000Big Sky Condo Listings $1 Million To $3 Million
Big Sky Condo Listings $500,000 To $1 MillionBig Sky Condo Listings Over $3 Million

Big Sky Condo and Townhouse Median Sales Price History, 2014 to 2020

September 2020 update: Since June 2020, Big Sky’s real estate market has picked up, as indicated by the uptick in closed sales (chart 3). This increase in closed sales should continue upward for the remainder of 2020.

Sales Price Data Comparison: “Month-to-Month” (chart 1)

Big Sky Condo Median Sales Price History
Chart 1: Month-to-Month Median Sales Prices, Big Sky Condos 2014 to 2020.

When viewed on a month-to-month frequency (chart 1), fluctuations in median sales prices for Big Sky condos appear dramatic.

Using month-to-month data to assess whether or not it’s wise to invest in or divest of a Big Sky condo (or any Big Sky real estate, for that matter) is risky.

Using month-to-month data as a method either to purchase your condo when prices are low or to sell your condo when the prices are high is risky.

Sales Price Data Comparison: “Year-to-Year” (chart 2)

Big Sky Median Condo Prices By Year 2013 To 2020
Chart 2: Year-to-Year Big Sky Median Condo Prices 2014 To 2020.

Viewed on a year-to-year frequency (aka twelve-month), chart 2’s graph displays less dramatic but more logical data to use in analyzing sales price variations when buying or selling your Big Sky condo.

Looking at median condo prices based upon the year-to-year perspective (chart 2), sales price fluctuations do not look as pronounced as those done month-to-month.

Nonetheless, as indicated by chart 1 and chart 2, during the past 6+ years median condo prices in Big Sky have increased dramatically…by around 200%.

And, though you shouldn’t be fooled by short-term data, long-term data suggest it continues to be a good time to get into your Big Sky condo!

Big Sky Condo and Townhouse Closed Sales History
Chart 3: Big Sky Condo and Townhouse Closed Sales History

Consequently, a year-to-year data perspective is perhaps the most reasonable and logical perspective to consider when looking at sales price trends from either a buyer’s or a seller’s perspective.

Interestingly, the greatest one-month percentage drop in median sales prices in the last 6 years (via the year-to-year perspective) was almost one year ago–between November and December 2019–when median sales prices fell about 9%.

From May to September 2020, median sales price has been rising, from $485,000 to $525,000 and looks as though, by year’s end, it may break the November 2019 record of $545,000.

It will be interesting to see how this median sales price trend continues with Covid-19, the economy, and the 2020 election.

Want a Big Sky Home Instead?

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Taunya Fagan

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