Big Sky Real Estate Prices, November 2022
All property types combined, real estate in Big Sky costs $1,600,000, down from $2,050,000. (median price)
Chart 1: Median residential real estate sales prices (homes, condos, townhouses only) continue climbing in Q4 2022. In 2020, residential prices flattened in December and continued flat until June 2021, jumping by $100,000 in July and then flattening again until late 2021.
October 2022: the price for all types of real estate (residential + land) has been climbing since May 2021, rising from $649,000 to the present $2,050,000, a ⇑ $1,410,000 or ⇑ $216% increase in 16 months.
The October 2022 residential sales price (homes, condos, townhouses only) of $2,050,000 is ⇑ $152,000 or ⇑ 13.8% above the October 2021 price of $1,237,500.
Residential prices in 2022 have risen much slower than prices in 2021, which hit $3,900,000 in December 2021 (due to a huge sale), for an increase of ⇑ $3,290,000 or ⇑ 539% increase in one year.
One month later, January 2022, the price dropped ⇓ 156%, to $1,526,000.
Condo and townhome prices continue up, moving from $974,000 last October to the present $1,592,500, up ⇑ 111.4% in one year.
Median sales price for vacant land has dropped back to those of last October, moving from over $3M in March 2022 to the present $1.9M.
The Big Sky real estate report holds more data and charts.
Chart 2: October 2020 had a single month record high of 62 closed sales (all types), which was significantly higher than Big Sky had ever seen in one month (41).
So far, March has been 2022’s highest closed sales month with 19 properties sold.
Closed sales kicked up in September 2022, with 13 properties sold in Big Sky.
October 2022 finds 17 pending sales for all Big Sky real estate; this is exactly the number pending last October.
Big Sky, MT Real Estate Factoid:
Late winter and mid-Summer are often the highest periods for pending sales.
Perhaps these periods top the “pending sales” charts because March hosts spring break, which brings a great number of skiers and snowboarders.
And, August tends to be the top summer tourist month, a time for golf, fishing, hiking, biking, and more.
