by Brett French, Billings Gazette
Since interest rates remained low in 2014 and the U.S. economy brightened, big investors continued to buy choice recreational and agricultural properties in Montana.
“For the first time in six years the number of sales is outpacing the inventory of active residential listings,” said Ryan Kulesza, a broker/owner at L&K Real Estate in Big Sky.
The company notched its record sale last year, $20 million for the Mountain Chateau, according to videos the company posted on its website. Another Big Sky property, Four Peaks Lodge, sold for $10.9 million. The mountain resort area alone saw 255 sales, according to the company.
The resort’s boom in land sales even attracted the attention of The New York Times in an article about the exclusive Yellowstone Club, headlined: “Huge Ski Resort for the Rich Is Bouncing Back.”
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Source: Billings Gazette