Steamboat Springs Real Estate Market

Steamboat Absorption Rate

INVENTORY ANALYSIS

When analyzing the real estate market, one of the factors that need to be taken into
consideration is the absorption rate.
Absorption rate is the number of months it would take to sell
the currently listed properties in the market and it is used to
attempt to predict home prices and sales activity going
forward.
The absorption rate noted on these charts shows how many months it would take for the all
of the currently listed properties in that category to sell, based on the sales activity over the
past year.

ROUTT COUNTY (incl. Steamboat Springs)

SINGLE FAMILY HOMES

Current ListingsSales in Past 12 Mos.Absorption Rate
Total3003929 months
Under $500K561485 months
$500K – $1M751546 months
$1M – $3M1138217 months
Over $3M5687 years

CONDOS & TOWNHOMES

Current ListingsSales in Past 12 Mos.Absorption Rate
Total1915324 months
Under $500K903533 months
$500K – $1M631515 months
$1M – $3M302713 months
Over $3M818 years

LAND

Current ListingsSales in Past 12 Mos.Absorption Rate
Total5022332+ years
Under $500K36520621 months
$500K – $1M74174+ years
$1M – $3M4776+ years
Over $3M1635+ years

 

STEAMBOAT SPRINGS

SINGLE FAMILY HOMES

Current ListingsSales in Past 12 Mos.Absorption Rate
Total1081947 months
Under $500K7333 months
$500K – $1M351044 months
$1M – $3M475311 months
Over $3M1944.5+ years

CONDOS & TOWNHOMES

Current ListingsSales in Past 12 Mos.Absorption Rate
Total1685024 months
Under $500K713253 months
$500K – $1M611505 months
$1M – $3M282613 months

LAND

Current ListingsSales in Past 12 Mos.Absorption Rate
Total1008414 months
Under $500K46698 months
$500K – $1M28112.5 years
$1M – $3M14114 years
Over $3M1234 years

 

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Mid Year 2018 Real Estate Market Report

steamboat market trends

HOW’ S THE MARKET IN STEAMBOAT?

That is the million dollar question. While it is true that the Denver Metro area is experiencing a very hot seller’s market, other areas around the country, such as some cities in the Pacific Northwest, report that the real estate market is showing some signs of cooling off.

So what is happening in Steamboat Springs and Routt County? The answer may not be as cut-and-dry as one would think.

In a rural market and more importantly, a resort market (of which Steamboat Springs and Routt County are both), the answer depends on many factors that cannot be considered or evaluated by looking at basic statistics or isolated sales data. One segment of the market may be very “hot”—a full blown seller’s market—whereas other segments may be slow, stagnant, or possibly declining. So it is too simple a statement to say that Routt County’s real estate market is “hot.”

Generally speaking, Routt County is experiencing a very active market that is preferential to sellers in most categories. This is especially true in the single family home1160 Fairway Woods Dr market, and for properties priced under $1M. The median sales price for single-family homes in Steamboat increased 12.1% in the first half of 2018 when compared to the same time period in 2017 – from $681,000 to $775,000. In fact, the median sales price for single family homes in every area around Routt County has increased when compared to 2017.

However, for homes priced over $1M, there are more listings and fewer sales – more supply than demand. So while we see values continuing to increase at a nominal rate with each sale that occurs, the absorption rate, or number of months that it will take for every property currently listed to be sold, is much higher for properties in the higher price ranges.

With property values increasing and accompanying inventory being depleted across most categories, there has been an increased interest in vacant land properties. In Steamboat Springs, the median sales price for vacant land went from $260,000 in January–June 2017, to $325,000 in 2018—an increase of 20%. We saw similar trends throughout most of Routt County, with the median sales price in the South Valley Area increasing from $325,000 to $397,000 (+18.1%), and in the Elk River and North Routt areas from $160,750 to $219,000 (+26.6%). Building costs are running approximately $350/sf to $500/sf, depending on quality, location and design.

real estate marketThe condo and townhome markets have stayed relatively flat in Steamboat Springs, showing an increase in median sales price of 4.2% for condos, and 1.9% for townhomes. However, the average days on market for condos and townhomes has decreased substantially, down 38.5% for condos in the first half
of 2018 when compared to 2017.

Unlike more urban areas where there are many transactions and a property’s value can be fairly easily determined by looking at recent sales in the neighborhood/subdivision, the types of properties within a certain subdivision or area in Routt County can vary widely. Property type, location and condition, as well as comparable properties, motivation of the seller to sell, and price point all influence value. With relatively few transactions in a given month, these variables and lack of sales can have a significant impact on the market value of the property.

The information presented in these micro market reports will better help tell the story of current real estate market conditions in Steamboat Springs and Routt County, but there is no general answer to the question: “How’s the real estate market?” Accurate analysis requires the skill and knowledge of a professional who is well-versed in all of the intricacies and nuances that exist in a rural and resort market like ours.

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Mid Year 2018 - Market report

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RESORT REPORT | 2018

RESORT MARKET at a glance

As the national residential real estate market continues to evolve, it is important to note that markets demonstrating some of the most unique performances in the nation, are those located in resort communities throughout Colorado and the western United States. The Steamboat Sotheby’s International Realty annual Resort Report analyzes data pertinent to the various resort real estate markets located throughout Colorado and the western United States, helping consumers make better real estate decisions, whether purchasing or selling a home in a resort area.

Typically found in desirable, slightly less accessible locations than national mainstream markets, resort markets tend to have a larger volume of luxury offerings to accommodate high-net-worth individuals that are drawn to these areas based on their exclusivity and proximity to world-class, year-round activities. In resort communities, seasonality, location, and employment opportunities often drive the inventory of homes down, and housing prices up. Interestingly, all of the Sotheby’s International Realty resort locations listed below, analyzed within the report, demonstrated increases in both average price and average price per square foot- a clear indicator of consumers’ continued desire for lifestyle-inspired home purchases and willingness to spend more for homes they truly desire.

When contemplating as large a financial commitment as the purchase or sale of a primary or second home in a resort area, market data can make a significant impact on making sound financial decisions. Steamboat Sotheby’s International Realty, and the many respected Sotheby’s International Realty affiliates that contributed to this report, remain committed to helping consumers make better real estate decisions, whether purchasing or selling a home.

Rocky Mountain Ski Resorts
The Steamboat market is strong, with 2017 showing double-digit growth in total transactions and dollar volume. Supply is down, demand is up, and our sales volume is the highest it’s been since the financial crisis 8 years ago. Even so, Steamboat’s geography allows for a more diverse offering of real estate that is still relatively affordable compared to other resorts.
David Baldinger, Jr.Broker/Owner at Steamboat Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$585,365

$608,848

4.0%

Average Price per Sq. Ft.

$320

$368

15.0%

Average Days on Market

127

112

-11.8%

Highest Price

$16,250,000

$9,790,000

-39.8%

Lowest Price

$32,000

$40,500

26.6%

Number of Properties Sold

867

946

9.1%

% Sold Price to List Price

94.00%

95.50%

1.6%

Total Dollar Volume

$507,511,879

$575,969,878

13.5%

A truly remarkable year in our valley—the increase in dollar volume of 32.33% says a lot of the housing market in Crested Butte, Colorado! Crested Butte’s inventory has dramatically reduced without replenishment, and 66% of listings are vacant land. The decrease in inventory will push the market to build ‘new’ for the first time in 10 years, positioning the area for continued growth in 2018 and beyond.
Cathy BensonBroker/Owner of Crested Butte Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$571,055

$684,158

19.8%

Average Price per Sq. Ft.

$314

$347

10.4%

Average Days on Market

275

225

-18.2%

Highest Price

$4,300,000

$4,500,000

4.7%

Lowest Price

$43,450

$60,500

39.2%

Number of Properties Sold

287

225

-21.6%

% Sold Price to List Price

94.80%

95.30%

0.5%

Total Dollar Volume

$163,892,798

$216,878,331

32.3%

January – December

2016

2017

% Change

Average Price

$1,443,028

$1,496,730

3.7%

Average Price per Sq. Ft.

$574

$603

5.1%

Average Days on Market

163

152

-6.7%

Highest Price

$8,900,000

$8,350,000

-6.2%

Lowest Price

$110,000

$146,000

32.7%

Number of Properties Sold

282

155

-45.0%

% Sold Price to List Price

95%

95%

-0.1%

Total Dollar Volume

$406,933,763

$231,993,088

-43.0%

Surrounded by the highest concentration of ski resorts in the country, the Lake Tahoe, Truckee and surrounding Reno-area real estate market revealed a continued uptrend in values, with fewer days on market, as compared to 2016. Because of the diverse landscape of the Lake Tahoe market, it’s best to contact a local expert to understand values and identify opportunities that best fit your financial goals and lifestyle, when considering the sale or purchase of a home.
Peter StrandPresident of Sierra Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,119,270

$1,164,909

4.1%

Average Price per Sq. Ft.

$271

$291

7.4%

Average Days on Market

94

87

-7.4%

Highest Price

$17,100,000

$13,500,000

-21.1%

Lowest Price

$75,000

$67,000

-10.7%

Number of Properties Sold

1,161

1,283

10.5%

% Sold Price to List Price

94.77%

94.77%

0.2%

Total Dollar Volume

$1,299,472,785

$1,494,577,807

15.0%

The Park City, Utah, real estate market demonstrated growth year-over-year with the number of properties sold, up 10%, and the total dollar volume sold, up by 15%. A 4.1% increase in the average sold price, along with a sold price to original list price ratio holding at 0.2%, demonstrated continued-competitive conditions in the Park City real estate market.
Thomas WrightPresident of Summit Sotheby’s International Realty
The Vail Valley continues its steady growth through 2017, with increases in nearly all categories. The statistic that is the most telling, is days on market. The inventory is at low levels and coupled with a steady market, properties are taking less time to sell and sellers are achieving prices closer to list price. If this condition continues, 2018 could be a good year to sell for those who have been waiting for the market to catch up to values experienced in 2007 and 2008.
Dan Fitchett, Jr.Managing Broker at LIV Sotheby’s International Realty, Vail

January – December

2016

2017

% Change

Average Price

$1,009,996

$1,129,637

12%

Average Price per Sq. Ft.

$452

$474

5.0%

Average Days on Market

137

124

-9.5%

Highest Price

$17,500,000

$23,000,000

31.0%

Lowest Price

$43,500

$137,700

216.6%

Number of Properties Sold

1,365

1,376

0.8%

% Sold Price to List Price

94.0%

94.3%

0.3%

Total Dollar Volume

$1,378,644,308

$1,554,380,694

12.7%

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2017 continued to offer healthy growth in Summit County, with a 16.8% increase in average sales price compared to 2016. Our average days on market also decreased by over 22% in the same time frame. Summit County offers a unique appeal to our second-home owners, offering four world-class ski areas including Breckenridge, Keystone, Copper Mountain and A-Basin—only 90 minutes from Denver, in addition to an abundance of other year-round recreational activities.
Melanie FrankSenior Vice President and Managing Broker at LIV Sotheby’s International Realty, Breckenridge

January – December

2016

2017

% Change

Average Price

$599,586

$700,377

16.8%

Average Price per Sq. Ft.

$399

$445

12.0%

Average Days on Market

80

62

-22.5%

Highest Price

$5,675,000

$6,100,000

7%

Lowest Price

$100,000

$170,000

70.0%

Number of Properties Sold

1,862

1,973

6.0%

% Sold Price to List Price

97.1%

98.4%

1.3%

Total Dollar Volume

$1,116,446,950

$1,381,843,993

23.8%

January – December

2016

2017

% Change

Average Price

$3,295,592

$4,325,623

31.3%

Average Price per Sq. Ft.

$1,271

$1,456

14.5%

Average Days on Market

257

276

7.4%

Highest Price

$24,000,000

$30,000,000

25.0%

Lowest Price

$95,152

$149,000

56.6%

Number of Properties Sold

189

274

45.0%

% Sold Price to List Price

93.0%

94.0%

1.1%

Total Dollar Volume

$622,866,827

$1,185,220,729

90.3%

Over the past 5+ years the Aspen real estate market enjoyed a steady climb in prices and activity (coupled with a corresponding drop in listing inventory), followed by a reversal of those trends in 2016, only to reverse course once again in 2017. It should be noted that although the Aspen real estate market had a strong rebound in 2017 from 2016, the overall level of sales still fell short of 2015.
Andrew ErnemannBroker Associate at Aspen Snowmass Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,310,325

$1,358,171

3.7%

Average Price per Sq. Ft.

$608

$619

1.8%

Average Days on Market

383

366

-4.4%

Highest Price

$7,500,000

$7,850,000

4.7%

Lowest Price

$135,000

$125,000

-7.4%

Number of Properties Sold

270

347

28.5%

% Sold Price to List Price

92.20%

93.70%

1.6%

Total Dollar Volume

$353,787,704

$471,285,289

33.2%

The Telluride real estate market had another very encouraging year with the number of properties sold up by almost 29% and the total dollar volume sold up by over 33%. A 3.7% increase in the average sold price, along with a 1.8% difference between the sold price and original list price, shows a coming together of buyers and sellers when valuing properties. Market trends suggest sold price and price per square foot will increase in 2018, great news for sellers
Nels CaryBroker/Owner of Telluride Sotheby’s International Realty
The secret is out that Big Sky, Montana is a world-class, four-season resort community and the area’s future, as it relates to real estate and growth, is bright. The number of properties sold year-over-year in Big Sky is up by 17%, with the total dollar volume sold demonstrating an increase of over 35%. For Big Sky’s Main Street having just been formed last year, market growth in this diverse year-round resort community is thriving.
Tallie LanceyBroker Associate at Big Sky Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$702,026

$813,937

15.9%

Average Price per Sq. Ft.

$309

$358

15.8%

Average Days on Market

188

182

-3.2%

Highest Price

$5,900,000

$3,800,000

-35.6%

Lowest Price

$87,500

$115,000

31.4%

Number of Properties Sold

229

268

17.0%

% Sold Price to List Price

91.90%

94.20%

2.5%

Total Dollar Volume

$160,764,070

$218,135,238

35.7%

Unit sales of condominiums and single-family homes fell 8% in 2017, reflecting a decline in available inventory of nearly 11%. Our “middle” market ($1.5 to $3 million), was the most active segment, as unit volumes rose 5% and prices increased by 6%. Demand and sales of higher end properties (above $3 million), pushed average prices up 7.2%, although on weaker unit volumes. Selling prices have been consistently about 92% to 93% of the listed price.
Leonard KleimanManager of Operations at Jackson Hole Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,302,665

$1,397,073

7.3%

Average Price per Sq. Ft.

$574

$618

7.7%

Average Days on Market

188

169

-10.1%

Highest Price

$10,250,000

$10,850,000

5.9%

Lowest Price

$240,000

$180,000

-25.0%

Number of Properties Sold

381

349

-8.4%

% Sold Price to List Price

91.63%

91.57%

-0.1%

Total Dollar Volume

$496,315,438

$487,578,317

-1.8%

January – December

2016

2017

% Change

Average Price

$412,049

$444,506

7.9%

Average Price per Sq. Ft.

$258

$287

11.2%

Average Days on Market

144

112

-22.2%

Highest Price

$5,400,000

$5,160,000

-4.4%

Lowest Price

$5,500

$8,000

45.5%

Number of Properties Sold

2,450

2,751

12.3%

% Sold Price to List Price

94%

94%

0.0%

Total Dollar Volume

$1,009,520,231

$1,223,282,733

21.2%

Statistics from the Santa Fe Association of Realtors have recorded 2017 as the best year for home sales in over a decade. Average sales price, number of properties sold and dollar volume, all trended up, while average days on market declined by 22%. Compared to other resort markets in the West and Southwest, Santa Fe remains an attractive and affordable marketplace, and 2018 is off to a robust beginning.
Gregg AntonsenSenior Vice President and Qualifying Broker at Sotheby’s International Realty—Santa Fe

Real Estate Market Update January 2018

January 2018 Activity Snapshot

Percent changes calculated using year-over-year comparisons.

New Listings were down 24.1 percent for single family homes and 36.2 percent for townhouse-condo properties. Pending Sales increased 63.6 percent for single family homes but decreased 8.3 percent for townhouse-condo properties.

The Median Sales Price was up 8.4 percent to $587,800 for single family homes and 18.6 percent to $400,000 for townhouse-condo properties. Days on Market decreased 21.8 percent for single family homes and 24.0 percent for townhouse condo properties.

Whatever external forces are placed upon residential real estate markets across the country – whether they are related to tax legislation, mortgage rates, employment situation changes, new family formations, the availability of new construction and the like – the appetite for home buying remains strong enough to drive prices upward in virtually all markets across the country.

New sales are not necessarily following that trend, but monthly increases are expected until at least late summer.

Activity Snapshot

+ 5.5% - One-Year Change in One-Year Change in Sold Listings

+ 9.9% - One-Year Change in Median Sales Price

- 34.7% One-Year Change in Active Listings

Residential real estate activity in zip codes 80487, 81639 and 80467,
comprised of single-family properties, townhomes and condominiums.
Percent changes are calculated using rounded figures.

Single Family Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year

-24.1%

New Listings

1-2017 : 29

1-2018 : 22

+63.6%

Pending Sales

1-2017 : 11

1-2018 : 18

+7.1%

Sold Listings

1-2017 : 14

1-2018 : 15

 

+8.4%

Median Sale Price

1-2017 : $542,500

1-2018 : $587,800

+11.7%

Average Sales Price

1-2017 : $610,643

1-2018 : $681,813

-21.8%

Days On Market

1-2017 : 142

1-2018 : 111

-6.3%

Housing Affordability Index

1-2017 : 63

1-2018 : 59

-22.4%

Active Listings

1-2017 : 174

1-2018 : 135

-25.8%

Months Supply 

1-2017 : 6.6

1-2018 : 4.9

Townhouse-Condo Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

-36.2%

New Listings

1-2017 : 69

1-2018 : 44

-8.3%

Pending Sales

1-2017 : 36

1-2018 : 33

+4.9%

Sold Listings

1-2017 : 41

1-2018 : 43

 

+18.6%

Median Sale Price

1-2017 : $337,228

1-2018 : $400,000

-6.1%

Average Sales Price

1-2017 : $452,693

1-2018 : $425,105

-24.0%

Days On Market

1-2017 : 100

1-2018 : 76

-14.9%

Housing Affordability Index

1-2017 : 101

1-2018 : 86

-40.3%

Active Listings

1-2017 : 385

1-2018 : 230

-46.4%

Months Supply 

1-2017 : 8.4

1-2018 : 4.5

STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY 2017 MARKET REPORT

UP, UP AND AWAY! 2017 MARKET REWIND

One of the most notable trends of 2017 compared to 2016 was the total number of closed transactions, which went up 15%, from 1,193 to 1,373. Total dollar volume was at
nearly $717M, up 11% over 2016. Double digit growth in both number of transactions and total dollar volume in a single year is compelling for Steamboat’s diverse market
because it shows a positive trend across the board. Listing inventory declined 20% from 2016, the seventh straight drop in the market year-over-year. This supply/ demand scenario is generally indicative of modest price increases continuing in the near future. In 2017, the median sales price for residential properties increased

 

13% compared to 2016, from $377K to $425K. The average residential sale price in Steamboat in 2017 was $609K—lower than that of its neighboring western resort communities.
The market has been improving at a consistent rate since 2008, and while interest rates are creeping up, they do not typically have as drastic an impact on resort markets as in urban markets. Steamboat is finally seeing the emergence of new multi-family developments for the first time in almost a decade, with a handful of new projects set to break ground in 2018. Expect to see the market trends of 2017 continue throughout 2018, with increased activity in the luxury and land segments of the market.

REAL ESTATE SNAPSHOT – PAST 19 YEARS

ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLD

Single Family Homes, Townhomes and Condominiums

STEAMBOAT SPRINGS

– Downtown, Fish Creek and Mountain Areas
Median Price Sold, Units Sold and Average Days on Market

STEAMBOAT SPRINGS – Downtown, Fish Creek and Mountain Areas

SURROUNDING COMMUNITIES

– Single Family Homes, Townhomes and Condominiums Median Price Sold, Units Sold and Average Days on Market

SURROUNDING COMMUNITIES – Single Family Homes, Townhomes and Condominiums Median Price Sold, Units Sold and Average Days on Market
Steamboat Springs, CO

STEAMBOAT COMPARED TO OTHER RESORTS

Average Sold Price and Units Sold

STEAMBOAT COMPARED TO OTHER RESORTS Average Sold Price and Units Sold

MARKET SHARE 2017

Top 5 Real Estate Agencies in Steamboat

MARKET SHARE 2017 Top 5 Real Estate Agencies in Steamboat

Steamboat Real Estate Market Profile – August 2017


Percent changes calculated using year-over-year comparisons.

+24.4%

One-Year Change in Sold Listings All Properties

+21.7%

One-Year Change in Median Sales Price All Properties

-7.7%

One-Year Change in Active Listings All Properties

Residential real estate activity in zip codes 80487, 81639 and 80467, comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.

  • New Listings were down 20.4 percent for single family homes and 19.0 percent for townhouse-condo properties.
  • Pending Sales decreased 22.2 percent for single family homes and 8.8 percent for townhouse-condo properties.
  • The Median Sales Price was up 5.6 percent to $596,000 for single family homes and 21.7 percent to $383,500 for townhouse-condo properties.
  • Days on Market increased 10.3 percent for single family homes but decreased 20.1 percent for
    condo properties.

The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect housing.
Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which may help lift the ongoing low inventory situation in 2018.


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*Information is provided by the Steamboat Springs Board of Realtors

Steamboat Springs Real Estate Market Report Sept 28, 2017

Market Report

Thu Sep 28 2017
Steamboat Springs, CO 80487
Single-Family Homes

This week the median list price for Steamboat Springs, CO 80487 is $799,000 with the market action index hovering around 24. This is about the same as last month's market action index of 24. Inventory has held steady at or around 244.

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Slight Buyer's Advantage

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Real-Time Market Profile

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Least Expensive

Real-Time Market Profle

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Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median PriceSq. Ft.Lot SizeBedsBathAgeNewAbsorbedDOM
$3,275,0006,6062.5 - 5 acres541321481
$1,299,0003,7321 - 2.5 acres432211248
$485,0002,2910.25 - 0.5 acre431843276
$82,5001,232-221802431

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Market Report Sept 14, 2017

Market Report

Thu Sep 14 2017
Steamboat Springs, CO 80487
Single-Family Homes

This week the median list price for Steamboat Springs, CO 80487 is $799,000 with the market action index hovering around 24. This is less than last month's market action index of 25. Inventory has held steady at or around 245.

 

 

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Slight Buyer's Advantage

Inventory levels have been relatively consistent relative to sales. Despite the fact that there is a relatively high amount of available inventory, this Buyer's market is still seeing prices move higher. Given inventory levels, these price conditions are relatively fragile. If the market cools off further, the price trend is likely to reverse.

Real-Time Market Profile

Never miss important changes

0
Most Expensive
0
Least Expensive

Real-Time Market Profle

0
Median List Price
0
Per Square Foot
0
Days on Market
0
Inventory

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median PriceSq. Ft.Lot SizeBedsBathAgeNewAbsorbedDOM
$3,275,0006,6062.5 - 5 acres541301476
$1,324,0003,5921 - 2.5 acres432336240
$489,0002,2910.25 - 0.5 acre431842272
$81,2001,217-221834421

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Market Snapshot

Market Snapshot Quarter 1 2017 

Residential real estate activity in zip codes 80487, 81639 and 80467, comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.

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1ST QUARTER 2017 – SSIR PARTICIPATED IN...

• 59% of the sales under $500K
• 61% of the sales from $500K–$1M
• 81% of the sales from $1M–$2M
• 100% of the sales over $2M

 

 

182 +58%

# RESIDENTIAL LISTINGS SOLD – 2017

 

$433k +22%

MEDIAN RESIDENTIAL SALES PRICE – 2017

$118m +94%

RESIDENTIAL SALES VOLUME – 2017

$130m +65%

TOTAL SALES VOLUME – 2017

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*Information is provided by the Steamboat Sotheby's International Realty

Steamboat Real Estate Market Profile – March 2017

Steamboat Real Estate Market


Percent changes calculated using year-over-year comparisons.

+43.2%
One-Year Change in Sold Listings All Properties
+89.5%
One-Year Change in Median Sales Price All Properties
-3.5%
One-Year Change in Active Listings All Properties

Residential real estate activity in zip codes 80487, 81639 and 80467, comprised of single-family properties, townhomes and condominiums. Percent changes are calculated using rounded figures.

  • New Listings were up 36.1 percent for single family homes but decreased 6.9 percent for townhouse-condo properties.
  • Pending Sales increased 76.0 percent for single family homes but remained flat for townhouse-condo properties.
  • The Median Sales Price was up 63.1 percent to $655,000 for single family homes and 69.6 percent to $475,000 for townhouse-condo properties.
  • Days on Market decreased 32.5 percent for single family homes but increased 13.6 percent for condo properties.

The U.S. economy has improved for several quarters in a row, which has helped wage growth and retail consumption increase in year-over-year comparisons. Couple that with an unemployment rate that has been holding steady or dropping both nationally and in many localities, and consumer confidence is on the rise. As the economy improves, home sales tend to go up. It isn't much more complex than that right now. Rising mortgage rates could slow growth eventually, but rate increases should be thought of as little more than a byproduct of a stronger economy and stronger demand.


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*Information is provided by the Steamboat Springs Board of Realtors

 

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