Steamboat Real Estate Market Profile – February 2017
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 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.
*Information is provided by the Steamboat Springs Board of Realtors