May 28th, 2024

Big Sky Homes For Sale

Big Sky Montana Homes For Sale

Big Sky Homes For Sale: Ski Homes

Big Sky Homes Perhaps a Condo?

Big Sky Home Listings Under $200000Big Sky Luxury Listings $800000 to $900000
Big Sky Home Listings $200000 to $300000Big Sky Luxury Listings $900000 to 1 million
Big Sky Home Listings $300000 to $400000Big Sky Luxury Listings 1 million to 2 million
Big Sky Home Listings $400000 to $500000Big Sky Luxury Listings 2 million to 3 million
Big Sky Home Listings $500000 to $600000Big Sky Luxury Listings 3 million to 4 million
Big Sky Home Listings $600000 to $700000Big Sky Luxury Listings 4 million to 5 million
Big Sky Luxury Listings $700000 to $800000Big Sky Luxury Listings over 5 million
Build Your Home On Big Sky Land Take A Peak At Big Sky Condos

Median Sales Price, Number Homes For Sale, Days On Market – Big Sky, Montana Housing Market

SALES PRICEMEDIAN PRICECLOSED SALES
Q1 2024$2,499,00021
2023$3,460,0008
2022$2,875,00020
2021$1,910,00031
2020$2,250,00023
Photo Yearly sales prices for Big Sky, MT homes, ten years.
Chart 1: Yearly sales price for Big Sky homes, ten years.

Chart 1: After a mostly uphill climb, Big Sky home prices have come down in 2024.

In Q3 2023, home price was $4,210,250.

Today, near the close of Q2 2024, price is at $2,637,500.

This is a ⇓ $1,572,750 price drop in the last ~9 months.

Looking Back At The Big Sky Market

Looking from April 2021’s price of $1,987,500 to December 2021’s price of $3,000,000, Big Sky homes increased ⇑ $1,012,500 or ⇑ 51% by the end of 2021.

Covid-19, construction materials inflation, labor shortages, and low inventory were the major drivers of price increases in Big Sky in 2020 and 2021.

Photo Yearly closed sales numbers for Big Sky homes, ten years.
Chart 2: Yearly closed sales numbers for Big Sky, MT homes, ten years.

In 2022, the data suggested demand and prices for Big Sky homes would continue to rise in 2022.

Chart 2: Closed sales are up to 21 in mid-2024, headed, perhaps, for 2021’s record of 31.

Chart 3: So far in 2024, Days on Market (DOM) are 111.

The median DOM for year 2023 was a very low 35.

Determining Absorption Rate in Real Estate Using Average Days On Market

Absorption Rate helps determine how long it may take a type of property to sell in a particular area and in a specific time range. 

Photo Median days on market for Big Sky, Montana homes, ten years.
Chart 3: Median days on market for Big Sky homes, ten years.

Average days on market (chart 3) will generally decrease as the Absorption Rate (AR)  increases.

This AR is determined by dividing the number of active homes for sale in a given month by the number of homes sold in a given month.

A rate above ~18-20% suggests a seller’s market and a rate below ~15-17% signals a buyer’s market.

Absorption Rate = Active Listings/Sold Listings


 LISTINGS IN OTHER SOUTHWEST MONTANA CITIESBOZEMAN REAL ESTATE LISTINGS – BELGRADE MT REAL ESTATE LISTINGS – BIG SKY REAL ESTATE LISTINGS – GALLATIN GATEWAY MONTANA REAL ESTATE LISTINGS – LIVINGSTON MONTANA REAL ESTATE LISTINGS – MANHATTAN MT REAL ESTATE LISTINGS – THREE FORKS MONTANA REAL ESTATE LISTINGS – BRIDGER CANYON REAL ESTATE JACKSON CREEK HOMES

Taunya Fagan, Big Sky Real Estate – Boutique Luxury @ ESTATE House, 3960 Valley Commons Drive, Suite 1, Bozeman, MT 59718Call 406.579.9683 

Tags: big sky home supply, big sky homes sold, median days on market big sky

Taunya Fagan

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