As the days grow shorter, the Steamboat real estate market is starting to show more glimmers of light. Real estate sales throughout Colorado seem to have started the recovery process as the sales activity around the state has begun to increase; including areas such as Denver, Boulder and Fort Collins (where several Steamboat second-home owners come from). It is tough to say whether this is a seasonal increase, or if this is the start of an upward trend in real estate activity. Suffice it to say that the consumer confidence level seems like it is continuing to grow towards the ownership of resort property.
The Steamboat Springs real estate sales activity for the month of July was identical to that of June with 38 sales and $22,000,000 in volume; this was roughly 50% of July 2008 volume. The number of property showings for the month was very high, perhaps the highest we’ve ever had, indicating that the Buyers are out there and looking for great deals in Steamboat property.
August events in Steamboat continue to draw visitors to the area. And thanks to the local paper painting a picture of a real estate Chernobyl, opportunistic buyers are eager to talk property! As summer draws to a close we are eager to start reporting an increase in closings and market momentum.
Steamboat Market at a Glance
Sales:
Single Family Homes
July ‘08 13
July ‘09 9
Condos/Townhomes
July ‘08 17
July ‘09 14
Median Price
Single Family Homes
July ‘08 $611,100
July ‘09 $480,000
Condos/Townhomes
July ‘08 $499,000
July ‘09 $675,000
Average Days on Market
Single Family Homes
July ‘08 230
July ‘09 165
Condos/Townhomes
July ‘08 186
July ‘09 210
Based on information from the Steamboat Springs Board Of Realtors MLS. Statistics intended only to show market trends.
For more information on the Steamboat real estate market trends please call or email Pam Vanatta today.
970-879-8100
