Steamboat Springs Real Estate Market Monthly Indicators – July 2015
Steamboat Springs Real Estate Market
New Listings were up 15.2 percent for single family homes and 5.0 percent for townhouse-condo properties. Pending Sales decreased 14.7 percent for single family homes but increased 35.0 percent for townhouse-condo properties. The Median Sales Price i the Steamboat Springs Real Estate Market was up 7.4 percent to $510,000 for single family homes but decreased 8.0 percent to $309,000 for townhouse-condo properties. Days on Market decreased 3.8 percent for single family homes but increased 6.3 percent for condo properties.
Ever since the Great Recession ended in about June 2009, the market has strengthened to once again become a cornerstone of the national economy. Better lending standards, lower oil prices and higher wages are a few of the catalysts for positive change. Many trends continue to reveal a stable housing market. Federal Reserve Chair, Janet Yellen, has predicted a fine-tuning of monetary policy by the end of the year. It is widely believed that interest rates will go up before the year is over, an indicator that the housing market is ready for such a move.