March 5th, 2021

Big Sky Real Estate Report

Big Sky Real Estate Report

2021 Big Sky Real Estate Report – Big Sky Market Data You Need To Know

Big Sky Real Estate Market Report: Median Home Prices, Sales Trends, Forecast, Big Sky Homes, Big Sky Land, Big Sky Condos and Townhouses.

Big Sky Real Estate Report: Residential Median Sales Price History
Chart 1: Median Sales Price: Homes, Condos, Townhomes and All Residential Types.

In Q1 2021, median sales prices (chart 1) for all residential real estate continues upward in Big Sky, Montana.

  1. The median sale price for a Big Sky home in 2021 is $1,812,000, down $63,000 from 2020’s March high.
  2. The median sale price for a Big Sky condo in 2021 is $692,000, higher than any month in 2020.
  3. The median sales price for a Big Sky townhome in 2021 is $1,013,000, up from a year ago.

Median sales prices for all residential were $707,00 in January 2019, then dropped $12,000, to $695,000 in January 2020.

In Q1 2021 median residential sales price has dramatically increased, up $402,000, to $1,097,000!

Big Sky Real Estate Report: Number Big Sky Residential Properties For Sale
Chart 2: # Big Sky Residential Properties For Sale: Single Family, Condo, Townhouse and All Types.

From late 2014 until mid-2019, the number of homes for sale (chart 2) in Big Sky decreased, then increased for a year (June 2019 to June 2020).

Number of homes for sale has been decreasing since June 2020 and continues downward in 2021.

The total number of dwellings for sale in Big Sky (chart 2) in Q1 2021 total is 175: 63 homes, 110 condos, and 2 townhomes.

Big Sky’s overall closed residential sales (chart 4) began increasing in June 2020, three months after the onset of the Coronavirus pandemic, perhaps people fled densely-populated regions of the US.

Big Sky Closed Sales By Property Type
Chart 4: Big Sky Closed Sales By Property Type

Closed sales for all residential Big Sky real estate (chart 4) has been increasing since June 2020. This trend had been on a dramatic decline since March 2020, perhaps due to early Covid-19 economic concerns.

In June 2020 an upward closed sales progression began for all residential and this progression continues in January 2021.

Big Sky Condo/Townhome Market Report Here


Looking Back At The Big Sky Real Estate Market

Pending Sales All Big Sky Residential Properties, Single Family, Condo, Townhome
Chart 3: Pending Sales Big Sky Residential Properties: Single Family, Condos, Townhouses

In January 2018 median sales prices were at $515,000 and one year later, January 2019, they had risen $192,000 to $707,000 (chart 1)

From January 2017 to January 2018, the median sales price for residential real estate in Big Sky 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/fall as owners anticipate the winter buying season.

The number of homes for sale (chart 2) began dropping in

Big Sky Real Estate Report: Residential Median Sales Price by Square Footage
Chart 5: Big Sky Median Residential Sales Price By Square Footage

September 2015 and continued until June 2019. Number of homes for sale has continued to rise since June 2019.

In 2016, the median sales price topped in Q1, declining through Q2, Q3, and Q4, dropping about a total of $50,000.

In June 2016, Q1 and Q2 Big Sky Homes and Land inventory was declining and median home sale prices continued increasing.

The median sales price for residential real estate in Big Sky was about $465,000 by mid-year 2016.

In early 2015 and 2016, Big Sky median home sales prices began at about $460,000 and $475,000 respectively. 

Big Sky Real Estate Report: Residential Median Sales Price by Price Range
Chart 6: Big Sky Real Estate Report: Residential Median Sales Price by Price Range

Since early 2014, median real estate sales prices for Big Sky have doubled, and the number of homes for sale has dropped by more than 30% (chart 2 below).

In 2015, the fickle year, median real estate sales prices topped at roughly the end of Q1 and start of Q2.

During these second and third quarters, median sales prices bottomed twice, once in May, once in August, both to about $425,000.

But by late 2015 (Q4), Big Sky median real estate prices climbed to their highest point in 2015.

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