Big Sky Homes For Sale: Ski Houses, Luxury Homes
Median Price: Homes Cost $1,552,500 in Big Sky, Montana …Perhaps a Condo?
Average Sales Price, Number Homes For Sale, Average Days on Market – Big Sky, Montana Housing Market
|BIG SKY HOME SALES PRICE||AVERAGE SALES PRICE||MEDIAN SALES PRICE|
Chart 1: April 2021: The median sales price ⇑ of Big Sky homes from October 2017 to the present has sharply risen, from $746,000 to $1,552,000. This is an ⇑ $806,000 or a ⇑ 108% increase in sales price in just 4 years.
Chart 1: Covid-19 seems to have driven the sales price increase in Big Sky in 2020.
In 2021, chart 1 suggests the demand for Big Sky homes has softened.
From January 2020 to January 2021, average sales price, $2,316,742, for Big Sky homes has increased ⇑ $145,558, to $2,462,3o0.
Chart 2: for years, the number of Big Sky homes for sale dropped until turning upward in October 2019, topping out at 71 in July 2020.
The number of Big Sky homes for sale in Q2 2021 continues dropping. Presently there are about 54 homes for sale in Big Sky.
Chart 3: Since July 2017, the duration of time–average days on market–has decreased for a Big Sky home for sale, changing from 233 days to 144 days in April 2021.
(Not charted): Since June 2020, when month’s supply of homes was 11 months, this number has been declining. In Q2 2021, supply is 6.3 months.
Average Days On Market and Determining Absorption Rate
Average days on market (chart 3) will generally decrease as the Absorption Rate (AR) increases.
Absorption Rate helps determine how long it may take the average home, condo, town-home, etc. to sell in a particular area and in a specific time range.
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 CITIES: BOZEMAN 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 59718 – Call 406.579.9683