Steamboat Springs Real Estate Market

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

iframe of Market Report


Click Here to see in your browser

PDF of Market Report

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

Download (PDF, 492KB)

 

 

*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.


Download (PDF, 309KB)

 

*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.


Download (PDF, 336KB)

 

*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.

Download (PDF, 4.11MB)

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.


Download (PDF, 306KB)

 

*Information is provided by the Steamboat Springs Board of Realtors

Steamboat Real Estate Market Profile – November 2016


Percent changes calculated using year-over-year comparisons.

+43.4%
One-Year Change in Sold Listings All Properties
-16.6%
One-Year Change in Median Sales Price All Properties
-12.9%
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 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.

Download (PDF, 294KB)

Monthly Indicators – September 2016

Percent changes calculated using year-over-year comparisons.

New Listings were up 20.8 percent for single family homes but decreased 26.1 percent for townhouse-condo properties. Pending Sales remained flat for single family homes but increased 37.1 percent for townhouse-condo properties.
The Median Sales Price was up 13.8 percent to $657,000 for single family homes and 1.1 percent to $331,750 for townhouse-condo properties. Days on Market decreased 18.6 percent for single family homes and 5.6 percent for condo properties.
In general, today's demand is driven by three factors: Millennials are reaching prime home-buying age, growing families are looking for larger homes and empty nesters are downsizing. However, intriguingly low
interest rates often prompt refinancing instead of listing, contributing to lower inventory. Recent studies have also shown that short-term rentals  are keeping a collection of homes off the market.

+7.3%
One-Year Change in Sold Listings All Properties
-6.1%
One-Year Change in Median Sales Price All Properties
-9.2%
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.

Market Snapshot October 2016

Steamboat Springs Real Estate

Market Snapshot

NUMBER OF LISTINGS SOLD - YTD 2016

657     ▲3%

ACTIVE LISTINGS - OCT 1 2016

1476     ▼-5%

MEDIAN SALES PRICE - YTD 2016

$367K     ▲8%

SALES VOLUME - OCT 1 2016

$377M     ▲22%

SOLDS

465 Tamarack Dr B-107
1320 Athens Plaza
2883 Burgess Creek Rd
#205 620 Anglers Dr
1300 Athens Plaza
1920 Ski Time Square Dr #404
2355 Storm Meadows Dr
2275 Storm Meadows Dr #54
2305 Storm Meadows Dr
2470 Apres Ski Way
9 Hemlock Ct
1375 Walton Creek Rd
2515 Apres Ski Way #4
1805 River Queen Ln #205
2300 Mt Werner Cir #631
2160 Mt Werner Cir #3225
2275 Storm Meadows Dr
40 Cypress Ct
3335 Columbine #901
37505 Saddle Mountain Dr
2800 EagleRidge Dr
2215 Storm Meadows Dr
2700 Village Dr
2619 Apres Ski Way #3
31755 Red Stag Ln
2545 Cattle Kate Cir #3206
1169 Hilltop Parkway
2025 Walton Creek Rd
1439 Morgan Ct #506
500 Anglers Dr
1480 Morgan Ct #1702
1424 Morgan Ct
26755 US Highway 40
525 Eaglepointe Ct
580 Anglers Drive #204
2650 Medicine Springs Dr #6
14780 Highway 40
2339 Abbey Ct
1995 Storm Meadows Dr #401
2617 Burgess Creek Rd A204
1695 Ranch Road #506
421 Cherry Dr
3109 Mariah Ct
1680 Ranch Road#210
3095 Aspen Leaf Way
3400 Covey Cir
3333 Apres Ski Way
649 Clermont Cir
595 Hilltop Parkway
36895 Tree Haus Dr
437 Willett Heights Ct
1225 Meadowood Ct
34630 Country Green Rd
1261 Harwig Cir
1556 Moraine Cir
29875 County Rd 35A
237 Hill Street
2917 Mountaineer Cir
1805 Fish Creek Falls Rd
700 Yampa A403
1925 Cimarron Cir
1495 Eagle Glen Dr
1236 Ridge View Dr
1222 Anglers Dr
431 Pine Street
1825 Clubhouse Dr
2774 Burgess Creek Rd
1965 Trollhaugen Ct
24785 Bench Ln
3095 Aspen Wood Dr
41850 Double Buck Tra
2555 Wildflower Court

9/1/16 - 9/31/16

$137,500
$154,000
$160,000
$160,000
$163,300
$171,000
$173,500
$190,000
$202,000
$205,000
$247,000
$247,500
$255,000
$255,000
$255,000
$269,000
$275,000
$275,500
$285,000
$287,000
$300,000
$312,000
$325,000
$325,000
$329,000
$338,500
$342,000
$355,000
$355,000
$359,000
$367,000
$369,000
$370,229
$386,000
$387,500
$407,000
$420,000
$420,000
$430,000
$442,500
$460,000
$475,000
$477,000
$480,000
$500,000
$505,000
$580,000
$620,000
$639,000
$675,000
$678,600
$750,000
$765,000
$770,000
$805,000
$825,000
$866,500
$895,000
$995,000
$1,025,000
$1,186,500
$1,250,000
$1,257,000
$1,300,000
$1,445,000
$1,450,000
$1,540,000
$1,580,000
$1,685,000
$2,015,000
$3,485,000
$3,600,000

In The News – End of September 2016

National News

Your First Home Might Be Your Last

(Bloomberg, 9/26/16)

The challenges that first-time homebuyers face in the U.S. housing market has been the cause of some concern over the past few years, amid slow income growth, fast price appreciation in parts of the country, and doubts that millennials want to buy a home in the first place.  Read More

The Mysterious Disappearance of Repeat Home Buyers

(realtor.com, 9/26/16)
A lot of ink has been spilled over the woes of first-time home buyers struggling to save up for a down payment while paying off student loan debt, securing a mortgage in an age of sky-high credit scores, and then finding an abode they can afford at a time when the lack of properties on the market is driving prices to new heights.  Read More

New Housing Data Points to Market Contradictions

(National Mortgage Professional Magazine, 9/26/16)
The latest numbers related to housing appear to show a market in a slight state of confusion, with one report citing slumping sales and two reports offering different conclusion on whether home prices are rising or falling.  Read More

Seasonal Housing Slowdown

(Forbes, 9/27/16)
Many local markets have been red-hot. A home seller might be tempted to wonder what is wrong with their home or REALTOR® if a buyer is not found in a month. Throughout this past summer, nearly half of homes listed found a willing buyer within a month: the median days on market nationally was 34 days from April to August. The pace was faster in the Pacific Northwest and a bit slower in the New England states, but this broadly brisk rate of sales will not last because autumn is here and winter is ahead.
Read More

No Surprise: Home Prices Up Again

(National Mortgage Professional Magazine, 9/27/16)
The latest data for the S&P CoreLogic Case-Shiller Indices is a continuation of a trend that is showing no signs of abating: U.S. home prices are on what appears to be a non-stop ascension.  Read More

‘Massive’ shortage of appraisers causing home sales delays

(CNBC, 9/27/16)
Housing demand is rising rapidly, but a key cog in the wheel to homeownership is in deep trouble. The people most needed to close the deal are disappearing. Appraisers, the men and women who value homes and whom mortgage lenders depend upon, are shrinking in numbers.  Read More

Housing Market Catches a Second Wind

(MReport, 9/27/16)
Despite sitting at a considerably lower rate than at this time last year, demand for housing appears to be on its way up, according to data released by Redfin on Tuesday.  Read More

Some of America’s Hottest Housing Markets Are Cooling Off

(Bloomberg, 9/28/16)
The red-hot growth in home prices across the U.S. West is starting to slow in some cities as sticker shock and low inventory put off weary buyers.  Read More

Mortgage Applications and Rates Take a Drop

(National Mortgage Professional Magazine, 9/28/16)
It was a weak week for mortgage applications, according to the latest Mortgage Bankers Association Weekly Mortgage Applications SurveyRead More

Yellen on Capitol Hill: No Timetable on Rate Hikes

(National Mortgage Professional Magazine, 9/28/16)
Janet Yellen has assured Congress that the Federal Reserve is not operating on a “fixed timetable” when it comes to determining when to initiate rate hikes.  Read More

The New Face of Immigration Is Changing the Housing Market

(Bloomberg, 9/29/16)
The twin shortages plaguing the U.S. in 2016 — a shortage of cheap service labor, and a shortage of affordable housing — are products of the same little-noticed trend: For decades, the education level of immigrants has been rising.   Read More

Lack of Affordable Homeownership at Seven-Year High

(National Mortgage Professional Magazine, 9/29/16)
Twenty-four percent of U.S. county housing markets were less affordable than their historic affordability averages during the third quarter, according to the Third Quarter Home Affordability Index report from ATTOM Data Solution. This newly recorded level marks a 22 percent increase from the second quarter and a 19 percent increase from one year ago—and it is also the highest level recorded since the third quarter of 2009. Read More

Commercial real estate prices are back to pre-crash highs but transactions are falling

(Yahoo, 9/29/16)
Commercial real estate transactions took a huge hit in August.  Read More

Local News

Once called America’s “most perfectly planned community,” Northglenn is again looking good to buyers

(Denver Post, 9/24/16)
Thank location, millennial buyers and affordability for making the 80233 ZIP one of the hottest U.S. real estate markets. Read More

Front Range real estate market feeling burn of appraiser shortage

(Denver Post, 9/24/16)
Home appraisals are taking longer to complete and costing more, and that is vexing home buyers, mortgage borrowers, real estate agents and loan officers along the northern Front Range.  Read More

Brokers report active luxury market in Steamboat Springs

(Steamboat Homefinder, 9/25/16)
Local real estate brokers have noticed an uptick in the region’s luxury market, including a boost in the number of homes sold for more than $2 million this year.  Read More

2 of America’s hottest ZIP codes for home sales are in Colorado

(Denver Business Journal, 9/26/16)
Two of America’s top four ZIP codes for “hottest” real estate markets are in Colorado, according to a new report.  Read More

Denver home prices continued to rise in July amid slowing national market

(Denver Post, 9/27/16)
While Denver’s housing market shows signs of leveling off, its home prices continue to rise at a pace slower only than Portland, Ore. and Seattle.  Read More

Colorado Springs and Denver tops for super-sized homes

(Denver Post, 9/27/16)
Provo, Ogden and Salt Lake City in Utah lead among metro areas for having the highest concentration of homes with eight or more rooms. Not entirely unexpected give the emphasis the Mormon faith places on raising large families.  Read More

Foreclosure picture continues to improve in Colorado Springs

(Gazette, 9/28/16)
Colorado Springs’ foreclosure rate continues to fall.  Read More

Colorado’s share of millennials living with parents beats the national average

(Denver Post, 9/28/16)
Like millions of Americans in less-than-ideal living arrangements, Rebecca Treon has tried to focus on the positive aspects of moving back in with her mother for the first time since she was a teenager.
Read More

Area home sales steady, prices up through summer

(Post-Independent, 9/29/16)
The usually busy summer home sales season in Garfield County saw some ups and downs, but the overall trend is encouraging, according to area real estate observers.  Read More