Big Sky Montana Real Estate 4th Quarter Market update
Big Sky Montana Real Estate 4th Quarter Market update The following graphs should help you understand where the market in Big Sky is for the 4th quarter of 2011. Market for Single Family Homes in Big Sky, MT The previous graph indicates that, as usual, the fourth quarter during the holiday season did taper off some, but had an interesting side note in that what we did sell had a higher market value and had been on the market for an extended time period. This is likely a result of the ski season here in Big Sky country. We can likely expect more of the same for the first quarter of 2012 as ski season continues. Real Estate Inventory for Big Sky, MT This graph is an indication of our inventory, how well it is moving, and how long it might take to get your home sold. We refer to this as the Absorption Rate. Unfortunately for Big Sky, we are still seeing a very slow market across the board. Since there are considerably more homes on the market than there are buyers and you should be prepared for a longer listing period to sell your home, at this point the math tells us at least an 18 month marketing period. You should also consider very carefully your price point in order to short cut the length of time it may take to sell your home. Average Asking Price to Actual Sold Price The last chart I would like to share with you is the average asking price to sold price. As you can see, if you own a Single Family home under an acre, a condo, or a townhouse within Big Sky, you can expect some solid negotiating in the Big Sky market. Buyers are still expecting a deal and those sellers wanting to move their home have agreed to the reduced price to get it done. If you have further questions about Big Sky homes for sale, or would like to search the homes for sale in Big Sky Montana, please don't hesitate to call or email! We are your expert local real estate broker.