Sales up, inventory down in Big Sky’s 2017 real estate market
That was the average sales price for a Big Sky residence sold in 2017, up just over $32,000 from the year prior. Gross sales volume for the 388 units sold topped $264.7 million.
These numbers and many more were reported in the recently issued 2017 Annual Market Report compiled by Christie’s PureWest International Real Estate.
While gross and average sales were up, 2017 was a year marked with the lowest number of listings since 2009. PureWest Broker Sandy Revisky, who helped produce the report, offered her thoughts on that trend.
“Many owners have been hesitant to sell as they see that the market has been consistently going up over the past few years and they don’t want to sell ‘too soon,’” Revisky wrote in an email to the Lookout. “In addition, many owners are very excited about the growth and development in Big Sky and don’t want to leave. Lastly, rental income has been very good for many owners who have their properties in either long-term or short-term rental pools, so they don’t have much motivation to put their properties on the market.”
A notable 96 percent of residences listed were sold last year. In all, 58 homes, 182 condos and 104 plots of land were closed on in Big Sky in 2017. The most homes were sold in Moonlight Basin (18 total) and the Meadow saw the most condos sold (88 units). The Meadow is also where the most lots were sold, with 51 plots changing hands.
To view the entire report, visit www.bigskypurewest.com.