Steamboat Real Estate Market Profile – November 2016
Percent changes calculated using year-over-year comparisons.
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 35.0 percent for single family homes and 20.5 percent for townhouse-condo properties. Pending Sales decreased 5.9 percent for single family homes and 5.6 percent for townhouse-condo properties.
- The Median Sales Price was down 14.5 percent to $470,000 for single family homes and 6.3 percent to $329,000 for townhouse-condo properties.
- Days on Market decreased 5.3 percent for single family homes and 32.4 percent for condo properties.
Financial markets were volatile in the days surrounding the presidential election, but they self-corrected and reached new heights soon after. Long-term indicators of what it will be like to have a real estate developer for a president remain fuzzy, but the outcome is not likely to be dull. Prior to the election, trend shift was hard to come by, and unemployment rates have not budged since August 2015. Post-election, mortgage rates are up and so are opinions that a trend shift is likely in the near future.