BIG SKY BY THE NUMBERS
BIG SKY REAL ESTATE MARKET TRENDS
BIG SKY RESORT |
YELLOWSTONE NATIONAL PARK |
|
SALES VOLUME AND GROWTH( IN MILLIONS) |
|
474K Skier visits |
927K
Cars on 191 between Big Sky and YNP in 2015
|
TOTAL BIG SKY
2012 2013 2014 2015 2016 *
$ 102.8 $ 160.5 $ 241.2 $ 192.8 $ 170.7
66 % Total Growth 2012-2016 14 % Avg. Annual Growth
|
SPANISH PEAKS
2012 2013 2014 2015 2016 *
$ 11.7 $ 10.4 $ 34.3 $ 29.7 $ 35.9
207 % Total Growth 2012-2016 32 % Avg. Annual Growth
|
MOONLIGHT BASIN
2012 2013 2014 2015 2016 *
$ 28.8 $ 18.6 $ 48.3 $ 44.2 $ 41.7
45 % Total Growth 2012-2016 10 % Avg. Annual Growth
|
24 %
5 Year Growth
( 2010 – 2015)
|
17 %
5 Year Growth
( 2010 – 2015)
|
66 % Total Big Sky Growth( 2012 – 2016) |
BIG SKY RESIDENTIAL LAND SALES |
88 |
88 |
46 |
63 |
$ 500 $ 400 |
$ 382 |
$ 396 |
$ 313 |
$ 316 |
$ 300 |
|
47
$ 475
|
BOZEMAN AIRPORT
997K
Passengers in 2015
1.1M
Passengers in 2016( Projected)
10 % YOY Passenger Growth( 2015 – 2016)
13 %
Resort Tax Revenue Avg. Annual Growth( 2010 – 2015)
350 300 250 200 150 100 50
BIG SKY COMMUNITY
15 %
Lodging Tax Revenue Avg. Annual Growth( 2010 – 2015)
Public School Student Growth( K-12 from1993 to 2016 / 17)
14 %
Total Big Sky Average Annual Growth( 2012 – 2016)
BIG SKY AVERAGE HOME PRICES( IN $ 000’ S)
$ 1,600
$ 941 $ 950
$ 932
$ 316 |
$ 382 |
$ 466 |
$ 522 |
$ 409 |
$ 300 |
2012 |
2013 |
2014 |
2015 |
2016
( 10 mo.)
|
Single Family
$ 1,567 $ 1,243
Condominium
$ 1,494
$ 200 2012 |
2013 |
2014 |
2015 |
2016 |
|
|
|
|
( 10 mo.) |
Avg. Price in $ 000’ s
In 2016, a noticeable tightening of the land sales market occurred, with a corresponding increase in price. The average lot sale price, which is highly dependent upon the quality of the lots sold each year, increased 20 % year-over-year.
Single-family homes trade at a premium to condo product, both on an absolute and a per-square-foot basis. One reason is that the stock of condo product is relatively old and of lower quality compared to the single-family home segment, which has seen more new development in recent years. Nonetheless, average price appreciation has occurred in both segments with single-family home prices increasing 17 % and condominium prices increasing 8 % from 2012 to 2016.
$ 500
$ 256
$ 250
Transactions
BIG SKY HOME PRICE PER SQ. FT.
$ 174
$ 271
$ 203
$ 100 2012 |
2013 |
2014 |
2015 |
2016 |
|
|
|
|
( 10 mo.) |
Single Family
$ 363
$ 241
$ 386
$ 271
Condominium
$ 440
$ 247
|
* Data includes first 10 months of year only |
|
|
Market statistics do not include Yellowstone Club transactions |
|
24 |
Does not include several recent transactions, including Elk Meadow Ranch |
25 |