$20 million sale highlights southwest Montana’s recovered real estate market
L&K REAL ESTATE
BIG SKY – A $20 million luxury ski chalet called the “Mountain Chateau at Yellowstone Club,” and listed by L&K Real Estate, sold on Oct. 27 to an undisclosed buyer.
The 15,000-square-foot ski-in, ski-out residence located in Big Sky holds true to its name, with access to 5,804 acres of terrain at Big Sky Resort, as well as 2,200 acres of adjacent private skiing at the Yellowstone Club’s Pioneer Mountain. Summertime offers access to the private club’s golf course, miles of trails, and is located within an hour drive of Yellowstone National Park.
In addition to offering unmatched recreational opportunities, Mountain Chateau also defines luxury in Montana with cedar and Douglas fir timbers, Italian marble floors, a handmade spiral staircase, cinema, guest loft, workout facility, and ski hut.
Eric Ladd, who sold developer property at the Yellowstone Club prior to starting the brokerage L&K Real Estate with partner Ryan Kulesza, says the southwest Montana market is growing. Ladd (also publisher of this newspaper) notes that a sharp increase in sales volume and stabilized prices quickly followed the mergers that brought the area resorts together.
“Buyer confidence has returned with strong leadership and a cohesive vision for the growing community,” Ladd said.
He added that in addition to the mergers, more direct flights to the upgraded Bozeman Yellowstone International Airport from places like New York and Houston have aided in the growth.
Multiple Listing Service reports confirm the steady recovery showing a 168 percent increase in sales volume in Big Sky in the past year compared to 2008. The area was hit hard during the recession with bankruptcies plaguing the luxury resorts of the Yellowstone Club, Moonlight Basin and the Club at Spanish Peaks.
Other luxury ski resort markets that struggled during the recession are also seeing an increase in sales, according to the “2014 Knight Frank Wealth Report.” The report notes in its Ultra High Net Worth Individuals Attitudes Survey that 20 percent of U.S. residents with more than $30 million in investable assets are interested in owning a ski home.
“[Big Sky] is a hidden gem,” Ladd said. “You can have a slopeside luxury home without the crowds for a much lower price per square foot than places like Aspen or Vail.”
Visit lkrealestate.com for more information.