2019 Annual Market Report

The new course the Steamboat Springs real estate market set in 2018 did not alter more than a few degrees in 2019. The number of transactions posted by the Steamboat Springs MLS dropped 2% from 2018. This is most likely due to the low supply of properties for sale in the market over the past three years. Less inventory led to less buying opportunities, therefore the slight drop in overall transactions. Speaking of low supply, listings declined for the ninth straight year. Except for 2006 (1,065), 2019 carried the second lowest number of listings throughout the year, calling it a tie with 2007 at 1,081.

Another key indicator is Absorption Rate, or the inventory bought, which is the dynamic between supply (listings) and demand (transactions). After nine straight years of a higher supply than demand, over the last three years, the market has seen the opposite with more demand than supply. With supply not meeting demand, one would expect prices to increase, which is seen by the sharp increase in average price from $522,000 to nearly $651,000 in 2019. From 1995 to 2019, the Average Price for properties in the Steamboat Springs MLS has increased an average of 9.17% annually. The 2019 Average Price of $650,780 is the highest the MLS has ever recorded. Likewise, the 2019 Median Price was $419,000, also highest on record.

2019 Annual Market Report

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About the Author

Melissa Valrey is The Boyd Team’s full-time Marketing Director. With over 9 years of real estate marketing experience, Melissa creates a vivid image of your property to help create a storyline for prospective buyers. First impressions are everything when it comes to selling your property, and she makes sure that your listing has the highest quality advertising copy and images to put it above the rest. She also manages all of the marketing and exposure your property will receive. Your listing will have 24-hour exposure through Sotheby’s affiliate websites, glossy brochures, informational packets, and direct mailings. She works closely with the marketing department at Steamboat Sotheby’s International Realty to create print advertisements published in Homefinder, Steamboat Magazine, The Steamboat Pilot, and other print publications.