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