Steamboat Springs Real Estate Market

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.

Market Action Index

Today 24%
Last Month24%

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

27%
Price Decreased
5%
Price Increased
7%
Relisted
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 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.

Market Action Index

Today 24%
Last Month24%

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

29%
Price Decreased
3%
Price Increased
8%
Relisted
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.

SSIR is proud to provide million dollar service to our clients at all price points.

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

 

Get more Steamboat real estate market info here

Steamboat Real Estate Market Profile – February 2017

Steamboat Market Report


Percent changes calculated using year-over-year comparisons.

+28.1%
One-Year Change in Sold Listings All Properties
+20.8%
One-Year Change in Median Sales Price All Properties
-11.6%
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 11.5 percent for single family homes but decreased 13.2 percent for townhouse-condo properties.
  • Pending Sales decreased 15.8 percent for single family homes but increased 3.2 percent for townhouse-condo properties.
  • The Median Sales Price was down 13.4 percent to $550,000 for single family homes but increased 25.5 percent to $435,000 for townhouse-condo properties.
  • Days on Market decreased 43.8 percent for single family homes but increased 18.5 percent for condo properties.

Unemployment has reached pre-recession levels, and Americans remain optimistic about finding quality employment. This matters because job growth and higher paychecks fuel home purchases. Unfortunately, that won't matter for potential buyers if price appreciation outpaces income growth and if mortgage rates continue their upward trend. Sellers are getting a generous number of offers in this market. The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers.


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*Information is provided by the Steamboat Springs Board of Realtors

Steamboat Springs Real Estate Market Report 2016

Steamboat Real Estate Market Report

Year-End Real Estate Market Report for Steamboat Springs, CO


Steamboat Springs Real Estate Market Report

NO DISAPPOINTMENTS WITH THE 2016 REAL ESTATE MARKET

2016 was the fifth best real estate market ever recorded for the Steamboat Springs Multiple Listing Service. 1,193 transactions posted (+10% over 2015) and nearly $618 million in dollar volume (+16% over 2015). Listings, which may be the Achilles Heel in the coming years, declined 6% from the prior year (1,447 in 2016), marking the market’s sixth straight drop.
With listings (supply)to decrease and purchases (demand) increasing, properties may experience added pricing pressure. This supply/demand dynamic (aka Absorption Rate) is supported in 2016 by the 8% average price increase to $534,000.
The path that the market has taken since 2008 has been improving at a fairly consistent rate. Although interest rates may be creeping up this year, they typically do not have a drastic impact on resort markets. Although they do impact entry level buyers where every point makes it more difficult to qualify.

The lack of vertical supply is going to be more of an issue in 2017 (and even in 2018). There are no new multi-family projects on the near horizon. Due to shorter supply and increased demand, expect the 2017 market to make a move to more of a seller’s market. And post 1,260 to 1,285 transactions with total dollar volume between $725m to $750m resulting in an average price increase to $575,000.

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Steamboat Springs Real Estate Market Report

Steamboat Real Estate Market Profile – December 2016


Percent changes calculated using year-over-year comparisons.

-28.6%
One-Year Change in Sold Listings All Properties
+27.5%
One-Year Change in Median Sales Price All Properties
-14.9%
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 12.5 percent for single family homes and 29.7 percent for townhouse-condo properties.
  • Pending Sales increased 50.0 percent for single family homes and 47.1 percent for townhouse-condo properties.
  • The Median Sales Price was up 27.8 percent to $660,000 for single family homes but decreased 7.8 percent to $341,000 for townhouse-condo properties.
  • Days on Market decreased 0.5 percent for single family homes and 1.6 percent for condo properties.

The overwhelming feeling about prospects in residential real estate for the immediate future is optimism. Real estate professionals across the nation are expressing that they are as busy as ever. There are certainly challenges in this market, like continued low inventory and higher competition for those fewer properties, but opportunities abound for creative and diligent agents prepared to put in the necessary amount of work.


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*Information is provided by the Steamboat Springs Board of Realtors