Melissa Gibson from Land Title reports about the Steamboat Springs real estate market for May 2018 in the email excerpt below:

“Our May numbers in Routt county were very similar to May of 2017.  Total transactions were 140 compared to 148 last year and our gross sales volume was $70.15M compared to $71.56M last year.  Year to date, our gross volume is down -9.86% and transactions are down -7.42%.  Our average residential price is $667,728 YTD.  
There were two New Unit Sales in May – both were in Hayden.  Still hoping for more inventory – both new and resale – to hit the Steamboat market.  Local buyers made up 58% of our sales in May in Routt county.
There were a total of 170 loans in May with 57% of purchasers closing with financing at the time of sale while 43% closed with cash.”

Our Steamboat Springs real estate market is experiencing the same nationwide issues of low inventory (especially with new homes) and buyers trying to close on a property before interest rates increase.  Dollar volume would be higher if there were more places to buy. 

If you are interested in learning more about Steamboat real estate, give us a call at 970-819-6372.