Demand For Montana Mountain Real Estate Continues To Drive New Development
It would seem that the sky’s the limit for the “Big Sky Country” after Montana ranked in the top 10 population gains in the nation. With 17,000 new residents, Montana grew 1.5% over the past year, thanks to an influx of new residents from decreased-population states like California and Illinois. This newfound popularity has put a strain on the northern state’s housing market, spotlighting a short supply. In response, investors have fueled a wave of new development, many of which are set to be completed in the coming year or two.
In ski resort towns all across the state, new luxury properties continue to draw wealthy buyers from around the world who are purchasing the newly constructed products for record-high prices. Check out these latest developments now on the Montana market.
Whitefish River Condos
Although Whitefish Lake may be the area’s best-known body of water, the roughly 25 miles of flowing water that make up Whitefish River are no less spectacular. With the river running through downtown, many riverside residences, like those at 28 Miles Avenue, marry the convenience and excitement of a central location with the tranquility of a more remote setting. Currently under construction, 28 Miles Avenue will house three-bedroom, three-bathroom condos.
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Inspired by Nordic designs, the over 2,600 units feature the best of contemporary Scandinavian ski chalets, including a stone-face fireplace, polished wood cabinetry and minimalist fixtures. Outdoor spaces include two covered balconies and a ground-level back patio with access to the river. Located on the northwest corner of town, the condominiums are minutes away from Whitefish Lake.
48.5 Acres of Big Sky
Big Sky 2025, a 10-year capital plan to transform the small mountain town into one of the world’s premier ski destinations, has meant the renovation and construction of gondolas, ski lifts, hotels, restaurants and residences. This rise in new development has been met by an equally vigorous growth of incoming visitors to the southern Montana ski community 50 miles north of Yellowstone National Park. According to the most recent census, the Big Sky population sits at just 3,975, though not for long as the growing rate is currently 3.33% annually.
While Big Sky 2025 is ambitious, more development will surely be necessary to keep up with the region’s increasing popularity. Thus, opportunities like the listing of 48.5 acres of mountainside that make up Beehive Basin, are more valuable than ever. Encompassing mountains, meadows and trout-filled streams at the base of the Spanish Peaks, Beehive Basin sits just 10 minutes away from Big Sky Resort. Ripe for development, the listing includes extensive land and ski resort development research documents.
Luxury Downtown Whitefish Suites
As the locale for much of the area’s dining, shopping and nightlife options, downtown Whitefish is a popular market for buyers who want to be close to the action while still being in proximity to the lake and ski resorts. Demand in this charming part of town has led to the investment and construction of a number of new developments, including an upcoming luxury condominium right in the heart of the neighborhood.
Set for competition in the spring of 2024, the complex will offer custom three-bedroom, three-bathroom suites totaling over 2,300 square feet. Each unit features a sprawling three-season deck with al fresco dining as well as heated underground parking. Spreading across three stories, the suites follow sleek, modern designs with an emphasis on clean lines, natural material accents and indoor/outdoor living spaces.
For investors or buyers interested in renting out their condos, short-term rentals are approved.
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