A window of opportunity in Big SkyThe Big Sky market gained meaningful momentum this summer. After a strong start to the year, contracts jumped sharply in July and August, with both months
December Market Report
Dated: December 29 2024
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It’s already been a season of wonderful gifts in Big Sky—from our abundance of snow to the grand openings of Madison 8 bubble chairlift and the The Landing at the One & Only. As the 2024-2025 ski season kicks off, the momentum suggests it’s shaping up to be truly exceptional.
As we approach 2025, year-end trends for the real estate market are coming into focus. The number of sales in 2024 showed remarkable consistency, rising nearly 20% compared to 2023 but still 33% below the 10-year average—a reflection of the elevated activity during the pandemic-driven real estate boom of 2020-2022, fueled by low interest rates. Interestingly, while the median residential price increased by just 1% year-over-year, the total annual sales volume surged by 41% compared to 2023 and an impressive 63% above the 10-year average.
This contrast between the modest change in median price and the significant jump in sales volume points to a bifurcated market. The surge in sales volume was driven primarily by luxury property transactions, where high-value sales had a disproportionate impact. Meanwhile, the median price segment remained steady, reflecting consistent demand in this price range. Big Sky’s luxury market, less influenced by interest rates, benefited from increased high-end inventory, which played a key role in the overall sales volume growth.
Katie Morrison
Luxury Agent SpotlightKatie began her real estate career at Yellowstone Club in 2004, contributing to over $1 billion in sales and helping high-net-worth families align investment goals with lifestyle....
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