(November 2014) - 2014 was a very exciting year in Big Sky with an ongoing increase in sales, as well as quite a few new development options coming on the market in our small ski town.
In 2013, Big Sky witnessed a surge in real estate sales and that upwards trend has carried over into 2014. Average sales price, median sales price, and overall gross sales volume have all been climbing in 2014. The average sales price for the first eight months of 2013 rose from $482,800 to $654,462 for the same period in 2014, the median sales price rose from $275,000 to $399,000, and the gross sales volume in 2014 is up over $22,000,000 as of September 1, 2014! Sales volume has precipitated a drop in inventory levels and the current absorption rates should continue to push pricing higher throughout the remainder of 2014. Successful sellers continue to price their properties to reflect the market, but savvy buyers are still finding terrific values in Big Sky.
Today's market can be very complicated. Now more than ever, it is important that you work with a broker that is truly a Big Sky market expert. PureWest Christie's International Real Estate of Big Sky has assembled some of the most respected local experts and has been the Big Sky real estate leader for the past five years in both units sold and in gross sales volume. We are proud to be the exclusive listing brokerage for all of the Big Sky Resort development inventory and we at PureWest hope to become and remain your Realtors of choice! Please feel free to contact our PureWest Big Sky brokers for additional information about any of these fine offerings, or about any property in the greater Big Sky area.
SANDY REVISKY, Broker
GRI, CRS, ASR, SFR, ABR
M: (406) 539-6316
MARY WHEELER, Broker
GRI, CRS, ABR, SFR
M: (406) 539-1745
MICHAEL THOMAS, Broker
M: (406) 581-2400
If you choose to own real estate in Big Sky, then choose Big Sky Property Management to maximize its rental potential and your peace of mind.
REAL ESTATE GAINS GROUND IN BIG SKY
(October 2013) - The Big Sky area real estate is picking up from the recent downturn. Price points for the lower end properties are climbing due to dwindling listings and scarce rental inventory, plus, sale prices seem to be coming in close to listing prices. Sales of premium condominiums and homes actually started picking up a year ago and with Big Sky Resort's pending acquisition of Moonlight Basin, real estate will continue to see substantial growth.
When Big Sky Resort released the fifth and final phase of Powder Ridge Cabins in December 2011 it seemed a bit risky, but to date, all but 4 of the 15 units listed from $600,000 to $1 million have sold. Two cabins were made available with eighth-share fractional ownership and now with three closings pending, only a single unit remains of the 16 total. The list price for 3,334 square foot five-bedroom cabin for one of these fractional ownerships is $149,000 for six weeks for owners to use, rent or trade.
Village Center ski suites, slopeside in the heart of the Big Sky Resort's Mountain Village, has seen success in the secondary market with six condominiums sold in the last year. Current offerings include a one-bedroom and a three-bedroom on fractional ownership starting as low as $69,000. Also listed is the Village Center Tower Penthouse, a spectacular three-bedroom unit with nearly 2,000 square feet overlooking the plaza for $1 million. Showings have been active, and an additional Village Center suite will be released from the developer soon.
Brian Wheeler, Director of Real Estate & Development for Big Sky Resort states "We are very optimistic about a strong winter ahead."
(May 2013 Broker Notes)
REAL ESTATE SALES ARE BRISK. More Powder Ridge Cabins have sold in recent weeks, leaving only four models in Phase 5 available at this time. Choose from Frontier, Trapper, Homestead or Ponderosa floor plans. Prices start at $600,000, ACT NOW! (Download current prices & availability)
(January 2013 Broker Notes)
SEVERAL EARLY SEASON STORMS have provided Big Sky Resort with excellent ski conditions and helped make the Christmas Holiday season one for the records. Up over 16% in skier visits from the previous record breaking year, with Mountain Sports and the Basecamp Kid's and Teen's camps seeing their busiest week as well. Big Sky also saw its biggest skier day in history with nearly 6,000 skiers, with an average of over 4,800 skiers and riders during the week between Christmas and New Year's Holidays. Across the Boyne family of resorts nationwide, the holiday season produced record attendance and revenue numbers.Benefiting from that record traffic, Powder Ridge Phase 5 showed significant progress as well. Cabin nos. 28 and 29, both Homestead floor plans, were completed and closed to the delight of their new owners. Meanwhile, new contracts have been accepted on Cabins 30 and 31, also Homestead floor plans. Construction has proceeded right on schedule and Cabins 36 and 32 are poised to be completed and closed during February. In total, six cabins will be completed and closed before the end of ski season. Ground breaking will take place on two more, just as soon as spring conditions return to Lone Mountain. In just one year since the project was launched it is fifty percent sold.