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Steamboat Absorption Rate

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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Mid Year 2018 Real Estate Market Report

steamboat market trends

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 home1160 Fairway Woods Dr 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.

real estate marketThe 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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Open House Tour

Independence Day Weekend Open House Tour

Independence Day Weekend Open House Tour

Presented by Steamboat Sotheby’s International Realty

July 6th Open House Tour

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Independence Day Weekend Open House Tour

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Memorial Day Open Houses 2018

Open House flyer Memorial Day Home » Blog » Page 2

OPEN HOUSE

MEMORIAL WEEKEND

Saturday 5/26/18 2-4pm

Image of 1160 Fairway Woods DrivePROPERTY ADDRESS: 1160 Fairway Woods
MLS # S170003
PRICE $2,120,000
4 Bedrooms /4.5 Bathrooms
7,801 Square Feet
3-CAR GARAGE
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.
AGENT NAME: Cam Boyd 970-846-8100

Image of 1031 Steamboat BlvdPROPERTY ADDRESS: 1031 Steamboat Blvd
MLS # S171269
PRICE $2,125,000
5+ Bedrooms /4.5 Bathrooms
5,642 Square Feet
On Golf Course
DIRECTIONS: Take Fish Creek Falls Road and make a right onto Steamboat Blvd, drive 1.8 miles and the home will be on the right with a sign.
AGENT NAME: Cam Boyd 970-846-8100

2655 COPPER RIDGE CIRCLE #2

$798,000

2BD/3,750SF/LIVE-WK

Hwy 40 W to Elk River Road, R on Copper Ridge Circle, On the R
KATHY STEINBERG 970.846.8418

1055 ANGLERS DRIVE

$4,495,000

5BD/6BA/6,541SF

Mt Werner, L on Stmbt Blvd, R on Club- house, R on Overlook, L on Chanterelle
MARC SMALL 970.846.8815

509 MOUNTAIN VISTA CIRCLE

$507,000

2BD/2BA/1,384SF

Fish Creek Falls Road to Tamarack to Mountain Vista Circle, #509 on the R
ADRIENNE STROOCK 970.846.3590

674 STEAMBOAT BOULEVARD

$2,995,000

6BD/7BA/7,305SF

Mt Werner to Steamboat Blvd, Cross over Fish Creek, Home is on the R
DARLINDA BALDINGER 970.846.7192

2315 STORM MEADOWS DR #3

$999,900

3BD/3BA/2,193SF

Mt Werner to Burgess Creek Rd, R on Storm Meadows Drive, on the R
COURTNEY WIEDEL 720.688.2897

2580 RIDGE ROAD

$3,750,000

7BD/7BA/7,498SF

Mt Werner to Burgess Creek Rd, L on Ridge R, Home is on the L
PAM VANATTA 970.291.8100

2780 RIDGE ROAD

$4,295,000

6BD/9BA/7,536SF

Mt Werner to Burgess Creek Rd, L on Ridge Rd, near end of road on the L
STEPHAN ZITTEL 970.846.4803

Open House flyer Memorial Day

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Open Houses this weekend

Open House

Open Houses this weekend

Saturday, April 7, 2018

2 -5 PM

1280 Buckskin Drive1260 BUCKSKIN DRIVE • DOWNTOWN

$1,250,000
#S161907
5,086 SQ FT

5 BEDROOM
3.5 BATH
2 CAR GARAGE

DIRECTIONS: 12th St downtown, veer Left on Village Ln, veer Left on Buckskin Dr, house on Right

22 LOGAN AVENUE22 LOGAN AVENUE • DOWNTOWN

$925,000
#6343485
2,320 SQ FT

3 BEDROOMS
2 BATHS
2 CAR GARAGE

DIRECTIONS: 7th St downtown, Left on Laurel, Right on Logan, house on Left

1055 ANGLERS DRIVE 1055 ANGLERS DRIVE • ANGLERS

$4,495,000
#S170040
6,541 SQ FT

4+ BEDROOM
5+ BATH
4 CAR GARAGE

DIRECTIONS: 40 to Anglers Dr, on Right (across from Rita Valentine Park)

3045 MOUNTAINEER CIRCLE #B3045 MOUNTAINEER CIRCLE #B • MOUNTAIN

$1,100,000
#5734189
2,694 SQ FT
4 BEDROOM
4 BATH
2 CAR GARAGE

DIRECTIONS: 40 to Walton Creek, L on Village, R on Medicine Springs, R at 2nd entrance, on L

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Open House – 1260 Buckskin Drive

Open House Sunday

Open House, Sunday March 18. 2-5 pm.

 

1280 Buckskin Drive1260 BUCKSKIN DRIVE
$1,250,000
#S161907
5 BEDROOMS
3.5 BATHS
5,086 SQ FT
2 CAR GARAGE

 

 

From US-40 W/S Lincoln Ave. Turn right onto 12th St
0.3 mi
Slight left onto Village Ln
249 ft

Slight left onto Buckskin Dr

 Home will be on your right

Open House Sunday

 

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RESORT REPORT | 2018

RESORT MARKET at a glance

As the national residential real estate market continues to evolve, it is important to note that markets demonstrating some of the most unique performances in the nation, are those located in resort communities throughout Colorado and the western United States. The Steamboat Sotheby’s International Realty annual Resort Report analyzes data pertinent to the various resort real estate markets located throughout Colorado and the western United States, helping consumers make better real estate decisions, whether purchasing or selling a home in a resort area.

Typically found in desirable, slightly less accessible locations than national mainstream markets, resort markets tend to have a larger volume of luxury offerings to accommodate high-net-worth individuals that are drawn to these areas based on their exclusivity and proximity to world-class, year-round activities. In resort communities, seasonality, location, and employment opportunities often drive the inventory of homes down, and housing prices up. Interestingly, all of the Sotheby’s International Realty resort locations listed below, analyzed within the report, demonstrated increases in both average price and average price per square foot- a clear indicator of consumers’ continued desire for lifestyle-inspired home purchases and willingness to spend more for homes they truly desire.

When contemplating as large a financial commitment as the purchase or sale of a primary or second home in a resort area, market data can make a significant impact on making sound financial decisions. Steamboat Sotheby’s International Realty, and the many respected Sotheby’s International Realty affiliates that contributed to this report, remain committed to helping consumers make better real estate decisions, whether purchasing or selling a home.

Rocky Mountain Ski Resorts
The Steamboat market is strong, with 2017 showing double-digit growth in total transactions and dollar volume. Supply is down, demand is up, and our sales volume is the highest it’s been since the financial crisis 8 years ago. Even so, Steamboat’s geography allows for a more diverse offering of real estate that is still relatively affordable compared to other resorts.
David Baldinger, Jr.Broker/Owner at Steamboat Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$585,365

$608,848

4.0%

Average Price per Sq. Ft.

$320

$368

15.0%

Average Days on Market

127

112

-11.8%

Highest Price

$16,250,000

$9,790,000

-39.8%

Lowest Price

$32,000

$40,500

26.6%

Number of Properties Sold

867

946

9.1%

% Sold Price to List Price

94.00%

95.50%

1.6%

Total Dollar Volume

$507,511,879

$575,969,878

13.5%

A truly remarkable year in our valley—the increase in dollar volume of 32.33% says a lot of the housing market in Crested Butte, Colorado! Crested Butte’s inventory has dramatically reduced without replenishment, and 66% of listings are vacant land. The decrease in inventory will push the market to build ‘new’ for the first time in 10 years, positioning the area for continued growth in 2018 and beyond.
Cathy BensonBroker/Owner of Crested Butte Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$571,055

$684,158

19.8%

Average Price per Sq. Ft.

$314

$347

10.4%

Average Days on Market

275

225

-18.2%

Highest Price

$4,300,000

$4,500,000

4.7%

Lowest Price

$43,450

$60,500

39.2%

Number of Properties Sold

287

225

-21.6%

% Sold Price to List Price

94.80%

95.30%

0.5%

Total Dollar Volume

$163,892,798

$216,878,331

32.3%

January – December

2016

2017

% Change

Average Price

$1,443,028

$1,496,730

3.7%

Average Price per Sq. Ft.

$574

$603

5.1%

Average Days on Market

163

152

-6.7%

Highest Price

$8,900,000

$8,350,000

-6.2%

Lowest Price

$110,000

$146,000

32.7%

Number of Properties Sold

282

155

-45.0%

% Sold Price to List Price

95%

95%

-0.1%

Total Dollar Volume

$406,933,763

$231,993,088

-43.0%

Surrounded by the highest concentration of ski resorts in the country, the Lake Tahoe, Truckee and surrounding Reno-area real estate market revealed a continued uptrend in values, with fewer days on market, as compared to 2016. Because of the diverse landscape of the Lake Tahoe market, it’s best to contact a local expert to understand values and identify opportunities that best fit your financial goals and lifestyle, when considering the sale or purchase of a home.
Peter StrandPresident of Sierra Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,119,270

$1,164,909

4.1%

Average Price per Sq. Ft.

$271

$291

7.4%

Average Days on Market

94

87

-7.4%

Highest Price

$17,100,000

$13,500,000

-21.1%

Lowest Price

$75,000

$67,000

-10.7%

Number of Properties Sold

1,161

1,283

10.5%

% Sold Price to List Price

94.77%

94.77%

0.2%

Total Dollar Volume

$1,299,472,785

$1,494,577,807

15.0%

The Park City, Utah, real estate market demonstrated growth year-over-year with the number of properties sold, up 10%, and the total dollar volume sold, up by 15%. A 4.1% increase in the average sold price, along with a sold price to original list price ratio holding at 0.2%, demonstrated continued-competitive conditions in the Park City real estate market.
Thomas WrightPresident of Summit Sotheby’s International Realty
The Vail Valley continues its steady growth through 2017, with increases in nearly all categories. The statistic that is the most telling, is days on market. The inventory is at low levels and coupled with a steady market, properties are taking less time to sell and sellers are achieving prices closer to list price. If this condition continues, 2018 could be a good year to sell for those who have been waiting for the market to catch up to values experienced in 2007 and 2008.
Dan Fitchett, Jr.Managing Broker at LIV Sotheby’s International Realty, Vail

January – December

2016

2017

% Change

Average Price

$1,009,996

$1,129,637

12%

Average Price per Sq. Ft.

$452

$474

5.0%

Average Days on Market

137

124

-9.5%

Highest Price

$17,500,000

$23,000,000

31.0%

Lowest Price

$43,500

$137,700

216.6%

Number of Properties Sold

1,365

1,376

0.8%

% Sold Price to List Price

94.0%

94.3%

0.3%

Total Dollar Volume

$1,378,644,308

$1,554,380,694

12.7%

< !––nextpage––>

2017 continued to offer healthy growth in Summit County, with a 16.8% increase in average sales price compared to 2016. Our average days on market also decreased by over 22% in the same time frame. Summit County offers a unique appeal to our second-home owners, offering four world-class ski areas including Breckenridge, Keystone, Copper Mountain and A-Basin—only 90 minutes from Denver, in addition to an abundance of other year-round recreational activities.
Melanie FrankSenior Vice President and Managing Broker at LIV Sotheby’s International Realty, Breckenridge

January – December

2016

2017

% Change

Average Price

$599,586

$700,377

16.8%

Average Price per Sq. Ft.

$399

$445

12.0%

Average Days on Market

80

62

-22.5%

Highest Price

$5,675,000

$6,100,000

7%

Lowest Price

$100,000

$170,000

70.0%

Number of Properties Sold

1,862

1,973

6.0%

% Sold Price to List Price

97.1%

98.4%

1.3%

Total Dollar Volume

$1,116,446,950

$1,381,843,993

23.8%

January – December

2016

2017

% Change

Average Price

$3,295,592

$4,325,623

31.3%

Average Price per Sq. Ft.

$1,271

$1,456

14.5%

Average Days on Market

257

276

7.4%

Highest Price

$24,000,000

$30,000,000

25.0%

Lowest Price

$95,152

$149,000

56.6%

Number of Properties Sold

189

274

45.0%

% Sold Price to List Price

93.0%

94.0%

1.1%

Total Dollar Volume

$622,866,827

$1,185,220,729

90.3%

Over the past 5+ years the Aspen real estate market enjoyed a steady climb in prices and activity (coupled with a corresponding drop in listing inventory), followed by a reversal of those trends in 2016, only to reverse course once again in 2017. It should be noted that although the Aspen real estate market had a strong rebound in 2017 from 2016, the overall level of sales still fell short of 2015.
Andrew ErnemannBroker Associate at Aspen Snowmass Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,310,325

$1,358,171

3.7%

Average Price per Sq. Ft.

$608

$619

1.8%

Average Days on Market

383

366

-4.4%

Highest Price

$7,500,000

$7,850,000

4.7%

Lowest Price

$135,000

$125,000

-7.4%

Number of Properties Sold

270

347

28.5%

% Sold Price to List Price

92.20%

93.70%

1.6%

Total Dollar Volume

$353,787,704

$471,285,289

33.2%

The Telluride real estate market had another very encouraging year with the number of properties sold up by almost 29% and the total dollar volume sold up by over 33%. A 3.7% increase in the average sold price, along with a 1.8% difference between the sold price and original list price, shows a coming together of buyers and sellers when valuing properties. Market trends suggest sold price and price per square foot will increase in 2018, great news for sellers
Nels CaryBroker/Owner of Telluride Sotheby’s International Realty
The secret is out that Big Sky, Montana is a world-class, four-season resort community and the area’s future, as it relates to real estate and growth, is bright. The number of properties sold year-over-year in Big Sky is up by 17%, with the total dollar volume sold demonstrating an increase of over 35%. For Big Sky’s Main Street having just been formed last year, market growth in this diverse year-round resort community is thriving.
Tallie LanceyBroker Associate at Big Sky Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$702,026

$813,937

15.9%

Average Price per Sq. Ft.

$309

$358

15.8%

Average Days on Market

188

182

-3.2%

Highest Price

$5,900,000

$3,800,000

-35.6%

Lowest Price

$87,500

$115,000

31.4%

Number of Properties Sold

229

268

17.0%

% Sold Price to List Price

91.90%

94.20%

2.5%

Total Dollar Volume

$160,764,070

$218,135,238

35.7%

Unit sales of condominiums and single-family homes fell 8% in 2017, reflecting a decline in available inventory of nearly 11%. Our “middle” market ($1.5 to $3 million), was the most active segment, as unit volumes rose 5% and prices increased by 6%. Demand and sales of higher end properties (above $3 million), pushed average prices up 7.2%, although on weaker unit volumes. Selling prices have been consistently about 92% to 93% of the listed price.
Leonard KleimanManager of Operations at Jackson Hole Sotheby’s International Realty

January – December

2016

2017

% Change

Average Price

$1,302,665

$1,397,073

7.3%

Average Price per Sq. Ft.

$574

$618

7.7%

Average Days on Market

188

169

-10.1%

Highest Price

$10,250,000

$10,850,000

5.9%

Lowest Price

$240,000

$180,000

-25.0%

Number of Properties Sold

381

349

-8.4%

% Sold Price to List Price

91.63%

91.57%

-0.1%

Total Dollar Volume

$496,315,438

$487,578,317

-1.8%

January – December

2016

2017

% Change

Average Price

$412,049

$444,506

7.9%

Average Price per Sq. Ft.

$258

$287

11.2%

Average Days on Market

144

112

-22.2%

Highest Price

$5,400,000

$5,160,000

-4.4%

Lowest Price

$5,500

$8,000

45.5%

Number of Properties Sold

2,450

2,751

12.3%

% Sold Price to List Price

94%

94%

0.0%

Total Dollar Volume

$1,009,520,231

$1,223,282,733

21.2%

Statistics from the Santa Fe Association of Realtors have recorded 2017 as the best year for home sales in over a decade. Average sales price, number of properties sold and dollar volume, all trended up, while average days on market declined by 22%. Compared to other resort markets in the West and Southwest, Santa Fe remains an attractive and affordable marketplace, and 2018 is off to a robust beginning.
Gregg AntonsenSenior Vice President and Qualifying Broker at Sotheby’s International Realty—Santa Fe

Filed under: Blog, Steamboat Springs Real Estate Market by Josh cook
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Open House Wednesday

Open House - 1160 Fairway Woods Dr

Open House

Wednesday Feb 21, 2-5 pm

Open House - 1160 Fairway Woods Dr

 

Open House - 1160 Fairway Woods Dr

Open House – 1160 Fairway Woods Dr

1160 Fairway Woods, Steamboat Springs, CO

$2,120,000

4 Beds 4.5 Baths

7,801 Sq Ft

3 Car Garage

#s170003

 

 

Filed under: Blog, Steamboat Springs Open Houses by Josh cook
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Real Estate Market Update January 2018

January 2018 Activity Snapshot

Percent changes calculated using year-over-year comparisons.

New Listings were down 24.1 percent for single family homes and 36.2 percent for townhouse-condo properties. Pending Sales increased 63.6 percent for single family homes but decreased 8.3 percent for townhouse-condo properties.

The Median Sales Price was up 8.4 percent to $587,800 for single family homes and 18.6 percent to $400,000 for townhouse-condo properties. Days on Market decreased 21.8 percent for single family homes and 24.0 percent for townhouse condo properties.

Whatever external forces are placed upon residential real estate markets across the country – whether they are related to tax legislation, mortgage rates, employment situation changes, new family formations, the availability of new construction and the like – the appetite for home buying remains strong enough to drive prices upward in virtually all markets across the country.

New sales are not necessarily following that trend, but monthly increases are expected until at least late summer.

Activity Snapshot

+ 5.5% - One-Year Change in One-Year Change in Sold Listings

+ 9.9% - One-Year Change in Median Sales Price

- 34.7% One-Year Change in Active Listings

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.

Single Family Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year

-24.1%

New Listings

1-2017 : 29

1-2018 : 22

+63.6%

Pending Sales

1-2017 : 11

1-2018 : 18

+7.1%

Sold Listings

1-2017 : 14

1-2018 : 15

 

+8.4%

Median Sale Price

1-2017 : $542,500

1-2018 : $587,800

+11.7%

Average Sales Price

1-2017 : $610,643

1-2018 : $681,813

-21.8%

Days On Market

1-2017 : 142

1-2018 : 111

-6.3%

Housing Affordability Index

1-2017 : 63

1-2018 : 59

-22.4%

Active Listings

1-2017 : 174

1-2018 : 135

-25.8%

Months Supply 

1-2017 : 6.6

1-2018 : 4.9

Townhouse-Condo Market Overview

Key metrics by report month and for year-to-date (YTD) starting from the first of the year.

-36.2%

New Listings

1-2017 : 69

1-2018 : 44

-8.3%

Pending Sales

1-2017 : 36

1-2018 : 33

+4.9%

Sold Listings

1-2017 : 41

1-2018 : 43

 

+18.6%

Median Sale Price

1-2017 : $337,228

1-2018 : $400,000

-6.1%

Average Sales Price

1-2017 : $452,693

1-2018 : $425,105

-24.0%

Days On Market

1-2017 : 100

1-2018 : 76

-14.9%

Housing Affordability Index

1-2017 : 101

1-2018 : 86

-40.3%

Active Listings

1-2017 : 385

1-2018 : 230

-46.4%

Months Supply 

1-2017 : 8.4

1-2018 : 4.5

Filed under: Blog, Steamboat Springs Real Estate Market by Josh cook
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2018 Winter Olympic Schedule

Winter Olympic Schedule Home » Blog » Page 2

SUPPORT TEAM USA 
& OUR VERY OWN STEAMBOAT OLYMPIANS!

Steamboat Athletes Competing in

Alpine Skiing Feb 21 and 24
Freestyle Skiing Feb 8 and 11
Nordic Combined Feb 14, 20, and 22
Ski Jumping Feb 12
Snowboarding Feb 11, 12, 14, 15, 21, and 24

Winter Olympic Schedule

____________________________________________________________________________________________

Filed under: Blog by Josh cook
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