Open Houses Friday & Saturday

Open House Friday 7/26/2019 3pm – 5pm

312 Blackberry Ln
Steamboat Springs, CO 80487

MLS #: 4647322
4 Bedrooms | 4 Baths
3,088 Sqft

Directions
Take HWY 40 to 3rd Street, turn right on Fish Creek Falls Rd, right on Tamarack Dr, turn left on Blackberry Ln and it’s located on the cul-de-sac.

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1303 Harwig Cir
Steamboat Springs, CO 80487

MLS #: 8079533
3 Bedrooms | 3.5 Baths
1,935 Sqft
Directions
From US 40/Lincoln Ave. driving West turn right on 3rd Street, turn right on Fish Creek Falls Rd., left on Harwig Circle, and the townhome will be on your right.

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Open House Saturday 7/27/2019 3pm – 5pm

30450 Triple B Ln
Steamboat Springs, CO 80487

MLS #: 5846115
4 Bedrooms | 3.5 Baths
4,448 Sqft

Directions
Take 131 South for 6 miles, left on 14E go 1/2 mile turn right on Triple B Lane, home on the first right.

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1160 Fairway Woods
Steamboat Springs, CO 80487

MLS #: 7945597
4 Bedrooms | 4.5 Baths
7,801 Sqft

Directions
Take Mt Werner Road to Steamboat Blvd and proceed up for 7/10 of a mile. Turn right onto Fairway Woods–just before the stop ahead sign, and it’s the second house on the left.

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Open House

Saturday July 20

3pm – 5pm

Open House 7.20.19

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Steamboat Sotheby’s International Realty was recently ranked in the Top 500

Steamboat Sotheby’s International Realty was recently ranked in the Top 500 out of all real estate brokerage firms in the country, by two separate and independent industry ranking reports. With an estimated 18,000 brokerage firms in the country, the Top 500 ranking places Steamboat Sotheby’s International Realty in the top 0.5% of real estate firms in the U.S. The RealTrends 500 report listed SSIR as #456 in the overall “Largest Brokers in the U.S.” category, including all franchise and independent firms, based on 2018 closed sales volume. The report also ranked Steamboat Sotheby’s International Realty at #28 out of all Sotheby’s International Realty affiliates in the U.S. The RealTrends 500 is an annual report that identifies the country’s most successful residential firms, and the report findings are verified by independent third parties for accuracy.

CLICK HERE to view REALTRENDS 500 full report

 

2019-REAL-Trends-500

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Separate and independent from RealTrends, RISMedia recently released its 31st Annual Power Broker Report, and Steamboat Sotheby’s International Realty was named in the “Top 500 Power Brokers” out of all real estate brokerage firms in the country. RISMedia’s Report ranks residential real estate brokerage firms according to closed residential sales volume and closed residential transaction sides for the year 2018. The Power Broker Report compiles data including sales volume, market trends and indicators, and factors influencing the real estate industry.
Collectively in 2018, the Top 1000 Power Brokers posted more than $1.4 trillion in sales volume and garnered almost 3.9 million transactions.

CLICK HERE TO VIEW RISMEDIA FULL REPORT

 

2019_Power_Broker_Survey

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OPEN HOUSE TODAY 3/22
2:30PM-5:30PM
34815 Panorama Drive
Co-listed with Pam Vanatta & Ralph Walton

Filed under: Blog, Steamboat Springs Open Houses by Melissa Valrey
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STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY

2018 MARKET REPORT

SUPPLY OR DEMAND—WHAT TURNED IN 2018?

With 8 years of steady growth in transactions that averaged a 15% increase year-over-year, why did the 2018 Steamboat Springs real estate market see a drop in transactions of 7%? A quick answer might be that the demand has dropped. However, the drop of transactions may not be due to a reduction in demand, but in a reduction in supply to meet demand.

Less inventory led to less buying opportunities, which in turn led to fewer transactions. With lower
demand would have come a reduction of property values. However, the average price of all properties sold increased by 13% from 2017 to nearly $600,000; the 2nd highest on record.

In 2017 the Steamboat Springs MLS posted 1,373 transactions; 4th best recorded and highest since the 2008 crash. The 2008 crash brought on a rash of listings in 2008–2010. From 2010 to 2016, when buyers started coming back into the market, listings declined 7% annually as demand began to outpace supply. However, in 2017 that percentage tripled to -21%, setting the stage coming into 2018, which posted the 4th lowest number of listings the MLS has seen.

Despite transaction decline, dollar volume increased 6% in 2018 to $761 million; the 2nd best in Steamboat MLS history. This is only the second time since 1996 the phenomenon of transactions declining and dollar volume simultaneously increasing has occurred.

2018 Annual Market Report

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F R E E • S E L F – G U I D E D

Join us for the 2018 Labor Day Home Tour
Visit 28 exquisite properties in and around Steamboat at your leisure.

>> CLICK HERE FOR PROPERTY DETAILS & TOUR MAP <<

 

Labor Day Home Tour 2018

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INVENTORY ANALYSIS

When analyzing the real estate market, one of the factors that need to be taken into
consideration is the absorption rate.
Absorption rate is the number of months it would take to sell
the currently listed properties in the market and it is used to
attempt to predict home prices and sales activity going
forward.
The absorption rate noted on these charts shows how many months it would take for the all
of the currently listed properties in that category to sell, based on the sales activity over the
past year.

ROUTT COUNTY (incl. Steamboat Springs)

SINGLE FAMILY HOMES

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	300	392	9 months
Under $500K	56	148	5 months
$500K – $1M	75	154	6 months
$1M – $3M	113	82	17 months
Over $3M	56	8	7 years

CONDOS & TOWNHOMES

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	191	532	4 months
Under $500K	90	353	3 months
$500K – $1M	63	151	5 months
$1M – $3M	30	27	13 months
Over $3M	8	1	8 years

LAND

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	502	233	2+ years
Under $500K	365	206	21 months
$500K – $1M	74	17	4+ years
$1M – $3M	47	7	6+ years
Over $3M	16	3	5+ years

 

STEAMBOAT SPRINGS

SINGLE FAMILY HOMES

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	108	194	7 months
Under $500K	7	33	3 months
$500K – $1M	35	104	4 months
$1M – $3M	47	53	11 months
Over $3M	19	4	4.5+ years

CONDOS & TOWNHOMES

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	168	502	4 months
Under $500K	71	325	3 months
$500K – $1M	61	150	5 months
$1M – $3M	28	26	13 months

LAND

	Current Listings	Sales in Past 12 Mos.	Absorption Rate
Total	100	84	14 months
Under $500K	46	69	8 months
$500K – $1M	28	11	2.5 years
$1M – $3M	14	1	14 years
Over $3M	12	3	4 years

 

>Click here to Read the

entire mid-year market report <<

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HOW’ S THE MARKET IN STEAMBOAT?

That is the million dollar question. While it is true that the Denver Metro area is experiencing a very hot seller’s market, other areas around the country, such as some cities in the Pacific Northwest, report that the real estate market is showing some signs of cooling off.

So what is happening in Steamboat Springs and Routt County? The answer may not be as cut-and-dry as one would think.

In a rural market and more importantly, a resort market (of which Steamboat Springs and Routt County are both), the answer depends on many factors that cannot be considered or evaluated by looking at basic statistics or isolated sales data. One segment of the market may be very “hot”—a full blown seller’s market—whereas other segments may be slow, stagnant, or possibly declining. So it is too simple a statement to say that Routt County’s real estate market is “hot.”

Generally speaking, Routt County is experiencing a very active market that is preferential to sellers in most categories. This is especially true in the single family home market, and for properties priced under $1M. The median sales price for single-family homes in Steamboat increased 12.1% in the first half of 2018 when compared to the same time period in 2017 – from $681,000 to $775,000. In fact, the median sales price for single family homes in every area around Routt County has increased when compared to 2017.

However, for homes priced over $1M, there are more listings and fewer sales – more supply than demand. So while we see values continuing to increase at a nominal rate with each sale that occurs, the absorption rate, or number of months that it will take for every property currently listed to be sold, is much higher for properties in the higher price ranges.

With property values increasing and accompanying inventory being depleted across most categories, there has been an increased interest in vacant land properties. In Steamboat Springs, the median sales price for vacant land went from $260,000 in January–June 2017, to $325,000 in 2018—an increase of 20%. We saw similar trends throughout most of Routt County, with the median sales price in the South Valley Area increasing from $325,000 to $397,000 (+18.1%), and in the Elk River and North Routt areas from $160,750 to $219,000 (+26.6%). Building costs are running approximately $350/sf to $500/sf, depending on quality, location and design.

The condo and townhome markets have stayed relatively flat in Steamboat Springs, showing an increase in median sales price of 4.2% for condos, and 1.9% for townhomes. However, the average days on market for condos and townhomes has decreased substantially, down 38.5% for condos in the first half
of 2018 when compared to 2017.

Unlike more urban areas where there are many transactions and a property’s value can be fairly easily determined by looking at recent sales in the neighborhood/subdivision, the types of properties within a certain subdivision or area in Routt County can vary widely. Property type, location and condition, as well as comparable properties, motivation of the seller to sell, and price point all influence value. With relatively few transactions in a given month, these variables and lack of sales can have a significant impact on the market value of the property.

The information presented in these micro market reports will better help tell the story of current real estate market conditions in Steamboat Springs and Routt County, but there is no general answer to the question: “How’s the real estate market?” Accurate analysis requires the skill and knowledge of a professional who is well-versed in all of the intricacies and nuances that exist in a rural and resort market like ours.

CLICK HERE TO DOWNLOAD REPORT

Mid Year 2018 - Market report

CLICK HERE TO DOWNLOAD REPORT

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Independence Day Weekend Open House Tour

Presented by Steamboat Sotheby’s International Realty

July 6th Open House Tour

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45 6TH STREET #4

$795,000

2BD/2.5BA/l,616SF

Lincoln Avenue downtown to 6th Street toward the river, Alpenglow Townhomes, on the RIGHT
ADRIENNE STROOCK 970.846.3590

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178 SLEEPY HOLLOW

$899,000

4BD/4.5BA/2,915SF

Fish Creek Falls Road, LEFT on Blue Sage, RIGHT into Sleepy Hollow, last home on RIGHT, RIGHT side
LISA OLSON 970.846.0713

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2890 BUCKS PATH

$5,200,000

6BD/7BA/7,401SF

Fish Creek Falls Road, RIGHT on Bucks Path (2nd entry at Elkins Meadow), 1st home on the LEFT
CHARLIE DRESEN 970.846.6435

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38970 COUGAR TRAIL

$2,995,000

4BD/4BA/4,567SF

Fish Creek Falls Road approx. 3 miles, straight at sharp curve/private drive, RIGHT the at fork to top
ANNE MAYBERRY 970.846.1425

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617 MEADOWBROOK COURT

$1,575,000

5BD/3BA/3,772SF

Fish Creek Falls Road, RIGHT on Steamboat Blvd, RIGHT on 1st Meadowbrook Court entrance, On the LEFT
ANNAMARIE SHUNNY 970.846.7574

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622 FOREST VIEW DRIVE

$3,275,000

5BD/5+BA/6,822SF

Fish Creek Falls Road, RIGHT on Steamboat Blvd, LEFT on Forest View Drive, on the RIGHT
THE ZOPF TEAM 970.846.5310

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1055 ANGLERS DRIVE

$4,495,000

4+BD/6BA/6,541SF

Hwy 40 to Anglers Drive, across from Rita Valentine Park, on the RIGHT
MARC SMALL 970.846.8815

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760 ANGEL’S VIEW WAY

$1,850,000

4BD/4.5BA/3,614SF

Hwy 40 to Pine Grove Road, LEFT on Angel’s View Way, on the LEFT
STEPHAN ZITTEL 970.846.4803

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920 TWILIGHT LANE

$1,995,000

4BD/4.5BA/4,014SF

Hwy 40 to Pine Grove Rd, LEFT on  Angel’s View Way, RIGHT on Twilight Ln, the house is the RIGHT
STEPHAN ZITTEL 970.846.4803

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1845 STEAMBOAT BOULEVARD

$2,250,000

5BD/5.5 BA/5,362SF

Hwy 40 to Mount Werner to Steamboat Blvd, Home is on the LEFT
CHERYL FOOTE 970.846.6444

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1160 FAIRWAY WOODS

s2,120,000

4BD/4.5BA/7,801SF

Hwy 40 to Mt Werner, LEFT on Steamboat Blvd, 7/10 mile, RIGHT on Fairway Woods, 2nd home on the LEFT
CAM BOYD 970.846.8100

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1500 MORAINE CIRCLE

$930,000

4BD/3.5BA/2,471SF

Mt Werner to Steamboat Blvd, RIGHT on Clubhouse Drive, RIGHT on Moraine Circle
CH LOE LAWRENCE 970.819.2150

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1119 OVERLOOK DRIVE

$2,595,000

6BD/5BA/6,227SF

Mt Werner to Steamboat Blvd, RIGHT on Clubhouse Drive, RIGHT on Overlook Drive, on the RIGHT
MARC SMALL 970.846.8815

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2144 GLACIER RIDGE ROAD

$1,995,000

6BD/7BA/6,311SF

Mt Werner to Steamboat Blvd, RIGHT on Clubhouse, RIGHT on Overlook Dr, LEFT on Glacier Ridge, on the LEFT.
BARB SHIPLEY 970.846.5151

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1770 RIVER QUEEN LANE

$1,995,000

5BD/4+BA/4,622SF

Mt Werner to Steamboat Blvd, RIGHT on Clubhouse D, RIGHT on River Queen Lane, at end on the LEFT
THE ZOPF TEAM 970.846.8969

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2780 RIDGE ROAD

$4,295,000

6so/9BA/7,536SF

Mt Werner to Burgess Creek Road, LEFT on Ridge Road, at the top on the LEFT
STEPHAN ZITTEL 970.846.4803

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2250 APRES SKI WAY #R516

$3,395,000

4B o/4. 5BA/2,532SF

Mt Werner to Apres Ski Way, LEFT on Village Dr at the 4-way stop to One Steamboat Place entrance
CHERYL FOOTE 970.846.6444

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2420 SKI TRAIL LANE #615

$895,000

3ao/3BA/1,854SF

Mt Werner Road to Apres Ski Way, LEFT on Ski Trail Lane, LEFT into Bear Claw Condos
DARLINDA BALDINGER 970.846.7192

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2365 SKI TRAIL LANE

$569,000

3so/3BA/1,471SF

Walton Creek Rd, LEFT on Eagleridge Dr, RIGHT into Canyon creek, Unit B108
LORI THOMPSON 970.846.6350

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2745 TIMBER COURT #2

$650,000

2so/3sA/l,712sF

Mt Werner to Apres Ski Way, RIGHT on Medicine Spgs, LEFT on Crosstimbers Tri, RIGHT on Timber Ct
CHERYL FOOTE 970.846.6444

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3045 MOUNTAINEER CIRCLE #B

$1,100,000

4ao/4sA/2,694sF

Walton Creek Rd, T. on Village, RIGHTY on Medicine Springs, 2nd Mountaineer entrance, at end on L
PAM VANATTA 970.291.8100

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2730 WATERSTONE LANE

$875,000

4BD/4.5BA/2,406SF

Walton Creek Rd to Eagleridge Drive, LEFT on Waterstone Lane, on the RIGHT
CHERYL FOOTE 970.846.6444

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3303 COVEY CIRCLE #5

$499,000

3BD/3BA/1,451SF

Wallon Creek Rd to Whistler Rd, LEFT on Covey Circle, LEFT at the fork, on the RIGHT
CHERYL FOOTE 970.846.6444

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33560 CATAMOUNT DRIVE

$4,950,000

6so/10BA/9,792SF

Hwy 40 East, LEFT into Catamown Ranch & Club, 1st home on RIGHT past clubhouse
PAM VANATTA 970.291.8100

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32120 COUNTY ROAD 14C

$5,200,000

6+8 o/6+BA/8 ,441SF

Hwy 40 to Hwy 131, LEFT 011 CR 18, RIGHT on CR 14C, 1st driveway on the RIGHT
DARLIN DA BALDINGER 970.846.7192

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30485 MARSHALL RIDGE ROAD

$3,100,000

4BD/4.5BA/5,633SF

Hwy 40 to 131, Ron 14, LEFT into Sidney Peak Ranch, LEFT on Marshall Ridge Rd, on the LEFT
VICKY HANNA 970.846.1725

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31545 ASPEN RIDGE ROAD

$2,250,000

5ao/4.5BA/5,438SF

South 01114 (River· Road), RIGHT on Aspen Ridge Rd (Dakota Ridge South Entrance), 1 mi up, on the LEFT
COLLEEN DE JONG 970.846.5569

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