2021 Big Sky Real Estate Report – Market Trends
Big Sky Real Estate Market Report: Residential Prices, Sales Trends. Forecast For Homes, Condos & Townhouses.
Chart 1: Q3 2021, median sales prices for all residential real estate except condos continue upward.
July 2021, the median price for a Big Sky home is $1,910,000, up ⇑ $1,100,000 or ⇑ 6% from the January 2021 price of $1,800,000.
July 2021, the median price for a Big Sky condo is $690,000, which is ⇓ $24,500 or ⇓ 3.5% lower than the January 2021 price, $714,500.
July 2021, the median price for a Big Sky townhome is $1,257,500, which is up ⇑ $212,500 or ⇑ 20.5% from January 2021’s $1,035,000.
Median sales prices for all residential were $457,500 in July 2016.
Now, in Q3 2021, residential price has dramatically increased in 5 years, up ⇑ $642,500, to $1,100,000!
Chart 2: The number of residential dwellings ⇓ for sale in has been decreasing since August 2020 and continues downward in Q3 2021.
Since before 2014, the number of homes for sale has generally been decreasing, except for the 12-month period of June 2019 to June 2020.
The total number of all residential properties combined for sale in Big Sky in Q3 2021 is 132: 44 homes, 87 condos, and 1 townhome.
Chart 3: Overall closed residential sales ⇑ began increasing in June 2020, three months after the onset of the pandemic, and has continued upward into Q2 2021.
Chart 4: Pending sales for all residential properties ⇑ began skyrocketing one year ago in April 2020.
Numbers have more than doubled in one year, rising ⇑ 136%, from 225 to 531 for homes, condos and townhomes.
Big Sky Condo/Townhome Market Report
Looking back at the real estate market
In January 2018 sales prices were at $515,000 and one year later, January 2019, they had risen ⇑ $194,000 to $709,000.
By January 2020, all residential property prices had risen to $694,500.
By January 2021, residential prices had risen ⇑ $405,000, in one year, to $1,100,000!
Big Sky residential prices have doubled in 3 years, from $558,500 in July 2018 to $1,100,00 in July 2021!
From January 2017 to January 2018, the price for residential real estate went from $415,000 to $515,000, a ⇑ $100,000 increase in one year.
The number of properties for sale in Big Sky generally increases in late summer/early fall as owners anticipate the winter season.
The number of homes for sale began dropping in September 2015 and continued until June 2019.
The number of homes for sale began dropping in July 2020 and continues into Q3 2021.
In Q4 2016, sales prices began climbing and for the most part have continued upward into Q3 2021.
In July 2015, inventory began declining and continued decreasing until June 2019.
Big Sky residential prices were flat for years until ticking up in September 2017, climbing $658,000 in the last ~4 years.
