2022 YEAR IN REVIEW
While supply & demand and interest- rate fluctuation might suggest falling real estate prices, we simply did not see that in the Steamboat Springs real estate market in 2022. We saw somewhat significant decreases in the number of sales, with the overall number of transactions (1,194) in our MLS down 34% from 2021 and the number of new listings down 19% (1,527), yet we still surpassed the $1-billion mark in sales volume, the second-highest on record.
Particularly in the second half of last year our market really started to shift. The absorption rate in the first half of 2022 was at an all-time high at 122%, but in the last two quarters of the
year, it dropped to 65%. Townhomes in Steamboat really saw a jump in median price, almost doubling year- over-year.
The mountain area makes up more than half of all dollar volume sold, thanks to condos making up a large portion of the inventory in the mountain area and the large number of properties sold there.
The market conditions and trends noted are a high-level view, including all different types of properties throughout Routt County. The reports that follow are designed to break down the trends and statistics in smaller areas by property type. This helps give you greater insight into the market conditions in specific segments that are relevant to you.
