Big Sky Residential Real Estate – Days on Market
In recent memory, the days on market or DOM of residential real estate in Big Sky hit a low in 2006 of 81 days average days with a median of only 49 days. While average DOM in 2010 is still uncomfortably high at 238 days, median days fell to 100 days from 165 days last year which is consistent with the increase in the number of transactions.
Real estate transactions in Big Sky increased by about 50% in 2010 jumping to 139 from 93 last year.
| |
DOM
|
DOM
|
|
Period
|
Average
|
Median
|
|
2005
|
128
|
44
|
|
2006
|
81
|
49
|
|
2007
|
188
|
163
|
|
2008
|
295
|
210
|
|
2009
|
239
|
165
|
|
2010
|
238
|
100
|
This is largely a result of sellers meeting buyers prices. The average sales price to original list price is projected at 79% in 2010 compared with a more typical 90% in normal years.
While there is no way to break out sales in Moonlight Basin, Spanish Peaks and Yellowstone Club because some or all developer sales are not reported in the MLS data, it is likely that DOM in these projects is closer to the average than the mean as the real estate typically is luxury mountain homes, ski-in ski-out town homes and condos.
*Estimated for 2010 based on MLS data for sales and pending transactions thru Dec. 31, 2010