Buyers looking to purchase a Steamboat home have fewer properties to choose from now that single family home inventory is down almost 10% from a month ago. But if you are fortunate to find a home you like, this is one of the best times of year to make an offer. Pending home sales increased by 46.2% in November and median prices are up to $550,000 for single family homes. Remember, the $550,000 median includes the entire Routt County area and a few outlier sales (at either end of the spectrum) can affect median prices in Steamboat Springs. Steamboat prices are almost always higher than homes located in Stagecoach, North Routt, and west of Steamboat.
If you look at the pending sales information below, you’ll see that December-February are good months to purchase properties because there isn’t as much competition from other buyers. Two to three times as many buyers go under contract from March-November, so sellers may be more motivated if presented with an offer between December-February. When sellers have more showings and more activity, they are less likely to negotiate because the next buyer might be ready to write a higher offer.
If you are looking in the winter, remember that Steamboat gets a lot of snow. Buyers may want to wait to see what lies beneath the snow when purchasing single family homes but it’s never to early to start looking and line up financing. See all the homes and condos currently for sale here, or call 970-819-6372 with your questions.