Archive for June 2018

Steamboat Springs Real Estate Sales 2018

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Looking at the real estate sales in the first half of 2018 shows a clear trend: single family homes are in short supply in Steamboat Springs, especially homes under $500,000.  Since January, only four homes sold for less than $500,000.  Neighborhoods like Emerald Knoll, Village Green, and Tree Haus are seeing home sales close above $1,000,000 and downtown “fixer uppers” start around $600,000.  New homes are even more scarce.  Only two homes sold that were built after 2017.  There are, however, two homes in Sunlight under contract at $555,000 and $635,000.  

Here is a list of single family home sales in Steamboat Springs:
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May Market Stats from Land Title

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.