Thursday, November 13, 2008
I just read some interesting stats from the Rocky Mountain Realtor Association. Thought I’d include the 3rd Quarter sales stats chart here.
Overall in 3Q, there were 2,107 total listings in Steamboat Springs. This includes homes, condos, land and commercial. In the same period of time we saw 638 closings, so a little under a third of the total.
The average sales price of a single family home is still holding strong in our community, at $996,816 in the 3rd Quarter. The average price of a condominium was just over $462,000.
Total sales volume in the Steamboat market for this quarter was $371,638,905 which is well below 3Q in 2007 (a record breaking year, I’ll add) but only about 15-20% off from 2006.
The amount of inventory we see on the market right now is more than the current demand which makes this somewhat of a buyer’s market. However, with winter comes more visitors to our community and an influx of new interest. The deals we’re seeing close as of late however are averaging about 10-20% below asking price.
Now more than ever it’s imperative to competitively price your property if you want to attract buyers and sell your property.