Big Sky Real Estate Prices Remain Flat – December 2021
All property types combined, real estate in Big Sky costs $1,200,000 (median price)
Chart 1: Median residential real estate sales prices (homes, condos, townhouses only) continue climbing in Q2 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.
April 2022: the price for all types of real estate (residential + land) has been climbing since June 2021, rising from $825,000 to the present $1,200,000, a ⇑ $375,000 or ⇑ $45.5% increase in 10 months.
The April 2022 residential sales price (homes, condos, townhouses only) of $1,252,000 is ⇑ $152,000 or ⇑ 13.8% above the April 2021 price of $1,100,000.
Residential prices rose much slower than did prices in 2020, which hit $1,096,550 in December 2020, for an increase of ⇑ $402,050 or ⇑ 57.9% in one year.
In 2021, condo and townhouse median sales prices rose ⇑ $181,000 or ⇑ 24%, for the one-year period, January 2021 to December 2021.
Median sales price for land has been strongly increasing since September 2021, rising ⇑ $418,000 or ⇑ $68.9%, from $607,000 to the April 2022 price of $1,025,000.
The Big Sky real estate report holds more data and charts.
Chart 2: October 2020 had a single month record high of 103 closed sales (all types), which was more than double the closings Big Sky had ever seen in one month (49).
Since then, it’s been all downhill. May was 2021’s highest closed sales month with 58 properties sold. Last month, March 2022 there were 22 properties sold in Big Sky.
April 2022 finds 40 pending sales for all Big Sky real estate; this is 17 pendings below April 2021’s 57 pendings.
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.
