Archive for February 2017

January Real Estate Sales

There weren’t many single family home/ranch sales in Steamboat in January, but what did sell had some high price tags.  Two properties closed over $9,000,000 and two more closed for more than $1,000,000.  What’s interesting is that only three homes sold in Steamboat (the rest were in Routt County), highlighting the low inventory buyers have to choose from.

Area Address Development Asking Price Sold Price
ELK RIVER AREA 22982 Routt County Rd 54 Elk River Area $16,500,000 $9,790,000
3-MOUNTAIN AREA 2335 Clubhouse Dr Country Club Highlands $1,235,000 $1,217,000
NORTH ROUTT 29090 River Drive Elk Ridge Subdivision $359,000 $340,000
3-MOUNTAIN AREA 1313 Robert E Lee Lane Fairway Meadows Subdivision $1,100,000 $1,025,000
5-WEST STEAMBOAT  21555 Second Avenue Milner $215,000 $215,000
5-WEST STEAMBOAT  2724 Riverside Drive Riverside Subd $425,000 $410,000
5-WEST STEAMBOAT 37500 RCR 179 Saddle Mountain Ranch $550,000 $530,000
5-WEST STEAMBOAT 37355 Saddle Mountain Dr Saddle Mountain Ranch $435,000 $425,000
5-WEST STEAMBOAT  40924 Purple Sage St Silver Spur/ Estates $849,000 $800,000
NORTH ROUTT 25450 Tanglewood Dr. Tanglewood Heig $495,000 $450,000
SOUTH VALLEY 33855 Pine Drop Dr. Wildflower Meadows $11,250,000 $9,000,000
1-DOWNTOWN AREA 837 Douglas Street Yahmonite Add SS $579,000 $555,000

Should you Buy a home in January or February or Wait until Spring?

Steamboat Springs Winter Carnival

Steamboat Springs Winter Carnival

Most buyers have zero interest in buying a home in the middle of a Steamboat Springs winter, especially if it means moving all your stuff in the middle of a snowstorm.  But research says it’s better to buy now.  According to Nerdwallet and, January and February are the best months to buy because sales drop 47% and prices are, on average, 8.45% less than prices in July and August. 

Even here in Steamboat, where seasonal ski properties are a huge part of our market, more people come to look in the winter but don’t actually buy until later in the year.  Buyers often think they’ll wait until ski season is over to get a better price, although in a rising market, most sellers coming on the market are pricing their properties higher than the last one that sold.  The combination of low inventory and interested buyers mean sellers are often getting close to their price.

You also have a better chance at negotiating when you aren’t in competition with other buyers.  Once a seller has their choice of multiple offers, the “winning” buyer often pays more.

Another reason it makes sense to buy January and February of 2017 is because interest rates are expected to increase.  You can get ahead of rate hikes by locking in rates now.  If you are part of the 50% of buyers who pay cash for a home here in Steamboat, this doesn’t apply.

If you are ready to start your home search, contact us here.