Archive for Market Report – Page 2

Steamboat Springs Home Sales in October

The Range at Wildhorse Meadows

The Range at Wildhorse Meadows

There were 24 Steamboat Springs area single family homes that sold during October.  The average price was $853,750, and no homes sold for under $500,000 in the city limits.  Buyers looking to stay below $500,000 are purchasing in some of the surrounding neighborhoods like Stagecoach, Milner, and North Routt.

Sold prices averaged 96% of the asking price leaving very little negotiating room for buyers.  If you’d like to discuss purchasing a home in Steamboat, please call us at 970-819-6372.

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September Real Estate Sales Up 36.55%

Country Green Neighborhood

Country Green Neighborhood

September was certainly a treat with 176 Transactions and $80.5M in Gross Volume!  Compared to last September Gross Volume was up by +36.55%, with the YTD. at +12.99%. Transactions were also up by +32.33% compared to last September, with the YTD. at +7.22%

Average Sales Price:
Single Family +5%
Multi Family -2%
Vacant Land -48%

Median Sales Price:
Single Family +13%
Multi Family +4%
Vacant Land -59%

Average PPSF
Single Family +9%
Multi Family +2%
Vacant Land +7%

New Unit Sales were down with 6 in September, compared to 8 in August.  There was great upper end activity this month with 19 in September, compared to 11 in August.

This info provided by Land Title Guarantee, Steamboat Springs

Best August Real Estate Sales in Years

The following Steamboat real estate information is provided by Melissa Gibson of Land Title Guarantee.  Melissa writes,

“August was a great month for Steamboat Springs real estate sales with $68.4M in Gross Volume and 161 Transactions – one of the best August months we have seen in years.  Compared to last August, Gross Volume was up by +9.59%, with the YTD. at +9.36%.  Transactions were up 7.33% compared to last August and YTD up 3.53%.

Average Sales Price:
Single Family +1%
Multifamily -2%
Vacant Land -43%

Median Sales Price:
Single Family +13%
Multi Family +4%
Vacant Land -34%

Average PPSF
Single Family +10%
Multi Family +2%
Vacant Land +15%

There were two bank sales in August, up from 0 in July.

New Unit Sales were up slightly with 8 in August, compared to 7 in July.

Upper end unit sales were static with 12 in both August and July.”

SF Homes that Sold in Steamboat Springs this Summer

Single FamilyThis summer between June and August, 55 single family homes sold in Steamboat Springs.  Prices ranged from $265,000 for an entry 2 bedroom home in Milner to $3,300,000 for a home on Natches Way with a spectacular view of the ski area.  The average price of a Steamboat area home was $1,100,000 and the median price was $800,000.

Last year, 67 properties sold so the total number of sales is down, but the average price is significantly higher than last year’s average of $889,000 and median price of $628,000.

Only six homes sold for less than $500,000 and 21 sold for over $1M.   There aren’t many new spec homes for sale to fill the demand–only two new homes are for sale under $1,000,000.

Search all properties for sale here or call us at 970-819-6372.

Here are the properties that sold:

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Steamboat Springs Real Estate June Stats

Melissa Gibson of Land Title just sent over June Steamboat Real Estate stats.  You can contact Melissa for your title needs at 970-870-2822.  She writes:

June was a great month with $82.8M in Gross Volume and 168 Transactions – the best month so far this year!  Compared to last June, Gross Volume is up by +34.31%, with the YTD. at +20.17%.  Transactions are also up by +16.67% compared to last June, with the YTD. at +6.63%.  Snapshot Values are as follows:

Average Steamboat Real Estate Sales Price:
Single Family +0%
Multi Family +2%
Vacant Land -43%

Median Steamboat Real Estate Sales Price:
Single Family +21%
Multi Family +6%
Vacant Land -49%

Average Steamboat Real Estate PPSF
Single Family +7%
Multi Family +3%
Vacant Land +13%

There were a total of 206 Deeds of Trust (the Colorado version of a mortgage) recordings in June, with 61% of purchasers closing with financing at the time of sale, and 39% closing with cash.

New unit sales grew with 12 in June, compared to 8 in May.  Upper end unit sales grew also with 19 in June, compared to 8 in May.  Bank Sales were down with 1, compared to 2 in May

Single Family Home Sales in Steamboat March-May 2016

Single Family

2016 Q1 results are in thanks to Land Title, and it’s no surprise that prices are up. Here are general trends comparing the 1st quarter of 2016 to the 1st quarter of 2015 in Routt County:
* Average Residential Price up 28.43%
* Gross Sales Volume up 10.61%
* Real Estate Transactions down 1.65%
* Buyer Profile: 54.42% local, 9.29% Front Range, 36.28% Out-of-State

In March thru May 2016 there were 38 Single Family home sales in Steamboat Springs with the most expensive being a $2.3 million home sold at Burgess Pines. This was one of six properties that sold for over $1 million in that time frame.

The average price for single family homes was $801,000 according to the Steamboat MLS.

See the homes that sold below, and call us at 970-819-6372 with your questions:

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Median Sales Price Just Doesn’t Matter

steamboat real estate median sales priceWhen buyers read headlines like “Median Prices Down 53%!” and “Median Prices Down 62%!” you would think sellers were practically giving their homes away here in Steamboat Springs.  Nothing could be further from the truth.  Many buyers (with good reason, in many cases) are looking for homes and condos with a mindset left over from the dark days of 2009-2011, and month-to-month stats like the ones below tend to reinforce that thinking.

If you take a look at the month-to-month median prices for Steamboat area single family homes and condos, you’ll find swings of several hundred thousand dollars.  Condo prices tend to be a little more reliable because there are more sales, and more data points, to generate better stats.

So what’s really going on?  This year has been the year of the entry level buyer.   Currently, rental inventory is as limited as our housing inventory. We’re seeing more first time buyers and buyers in less costly areas like Hayden and Oak Creek who are finding it’s cheaper to buy than rent.  So those numbers are affecting our median prices even though they have little to do with the Steamboat Springs real estate market.

In the City of Steamboat Springs, it’s a different real estate story.  There are currently 81 homes for sale. Only three of them are priced <$500,000 and 51 of them are priced over $1,000,000.  We are seriously lacking in home inventory priced between $500,000-$900,000.  Half the homes currently listed between $500,000-$650,000 have less than 1000 sf and have two or fewer bedrooms.  They are basically tear downs.

Inventory Graph

Buyers have a few options.  They are choosing to build, waiting for new listings to come on the market, or they are upping their budget.  If you are thinking about buying, please call us at 970-819-6372 to talk about your options and sign up for notifications of new homes on the market.

2015 November Single Family Home Sales

Single FamilyNovember single family home sales in Steamboat had mixed results. There were 22 single family sales in and around Steamboat this November, compared to 32 in 2014. While these aren’t great numbers if we only look at November, year to date sales are still above last year’s numbers. What is encouraging is the pricing. In November 2014, the average sales price of a single family home in the Steamboat are was $506,532 and this year it was $632,181. This represents a 25% increase over last year.

To see which single family homes sold in November look at the chart below.


MLS # Address Area Sold Price Ask Price % of Asking
140580 57430 Golden Tide Place NORTH ROUTT $280,000 $299,000 94%
141555 33115 Filly Trail STAGECOACH $360,000 $369,000 98%
141925 40520 Anchor Way WEST STEAMBOAT $387,500 $399,000 97%
140295 57565 County Road 62 NORTH ROUTT $403,000 $449,000 90%
139970 58035 Jupiter Place NORTH ROUTT $425,000 $439,000 97%
141374 29760 Riffle Run STAGECOACH $480,000 $495,000 97%
140989 26355 Hidden Mesa Dr SOUTH ROUTT $499,000 $549,900 91%
141781 59122 Wiley Way NORTH ROUTT $525,000 $550,000 95%
140637 28050 Yellow Jacket SOUTH VALLEY $540,000 $565,000 96%
141683 21420 Whitewood Dr. W SOUTH VALLEY $550,000 $585,000 94%
140384 40835 Purple Sage St. WEST STEAMBOAT $640,000 $645,000 99%
139811 27445 Gold Queen Place NORTH ROUTT $789,000 $824,900 96%
138529 29975 Homestead Lane SOUTH VALLEY $825,000 $895,000 92%
140775 2615 Windward Way MOUNTAIN AREA $846,000 $849,900 100%
141047 3105 Laurel Lane MOUNTAIN AREA $1,335,000 $1,400,000 95%
141746 44500 Diamondback Way ELK RIVER AREA $1,575,000 $1,695,000 95%
141435 2890 Burgess Pines Trail MOUNTAIN AREA $2,548,000 $2,850,000 89%

If you’re interested in buying a property in Steamboat, or have a home you’d like to sell, please contact us at 970-819-5063.

2015 October Single Family Home Sales in Steamboat

October was another month of amazing growth in single family home sales in Steamboat. This year, 38 single family homes have sold, compared to October of 2014 when 30 homes sold. What tops these already encouraging numbers is the Dollar volume which increased 108% in October of 2015 compared to last year. This year’s sales volume was $37.6M and last year the total was $17.06M.
Fairway Meadows

Most gains were in the high end properties, with 9 properties sold over $1M, with one property in North Routt sold for $7,000,000. In comparison, last year only 4 properties over $1M had sold, with none over $2M. The average sales price has also increased dramatically. Last year, the average sales price of a single family home in Steamboat was $586,913 and this year it was $965,046.  Even if we take out the $7M sale which skews the average, this year’s single family average sales price was $801,935 which is 37% higher than last year.

To see the single family homes in Steamboat that sold in October look at the table below:

Address Develop Sold Price Ask Price % of Asking
126 E Williams St Org Town of Oak Creek $103,000 $100,000 103%
20845 Filly Trail Stagecoach $135,000 $149,900 90%
380 E Washington Avenue Walkers Add Hayden $160,750 $175,000 92%
143 N 4th Street West Add Hayden $170,000 $175,000 97%
705 Lillian Lane Other $262,500 $289,000 91%
415 S Sharp Oak Creek $265,000 $267,000 99%
23550 Sagebrush Circle Red Hawk Vlg At Stagecoach $300,000 $318,000 94%
12120 Yoast Trail Other $312,000 $320,000 98%
858 County Road 29 Other $326,000 $342,000 95%
30015 Bannock Trl Meadow Green Stagecoach $373,000 $385,000 97%
30575 CR 14B Blacktail Mountain Estates $385,000 $385,000 100%
37795 County Road 179 Saddle Mountain Ranch $400,000 $410,000 98%
3381 Apres Ski Way Mount Werner Meadows $429,000 $449,500 95%
2842 Riverside Drive Riverside Subd $480,000 $499,000 96%
1975 Fish Creek Falls Rd Other $490,000 $559,000 88%
26805 County Road 33A Harmony Ranch $550,000 $599,999 92%
27361 Brandon Circle Heritage Park $595,000 $599,000 99%
810 W Hillside Court Hillside Subdivision $635,000 $629,000 101%
27486 Brandon Circle Heritage Park $675,000 $675,000 100%
1255 Meadowood Court Meadowood Subdivision $685,000 $699,000 98%
1585 Red Hawk Court Hunters Glen $690,000 $710,000 97%
2275 Clubhouse Drive Country Club Highlands $711,000 $749,000 95%
1050 Uncochief Circle Campbell Subdivision $730,000 $775,000 94%
325 Steamboat Boulevard Mountain View $785,000 $799,000 98%
28652 Blacktail Meadows Dr. Blacktail Mountain Estates $812,500 $799,000 102%
840 Twilight Ln Steamboat Barn Village $830,000 $889,000 93%
1676 Cornice Court Fairway Meadows Subd $840,000 $850,000 99%
50655 Buck Mountain Lane Metes & Bounds $865,000 $925,000 94%
2050 Clubhouse Drive Country Club Highlands $947,000 $989,000 96%
880 Douglas Street Yahmonite Add SS $1,032,500 $1,165,000 89%
41300 Juniper Springs Ct. Game Trails Subdivision $1,100,000 $1,295,000 85%
2010 Bear Drive Running Bear $1,250,000 $1,395,000 90%
3407 Apres Ski Way Running Bear $1,350,000 $1,395,000 97%
31100 Countryside Road Dakota Ridge Subdivision $1,725,000 $2,595,000 66%
1005 Crawford Avenue CrawfrdAddtoSS $1,735,000 $1,800,000 96%
32750 County Road 14 Metes & Bounds $1,837,500 $1,997,500 92%
31765 Soda Creek Rim Road Strawberry Park $4,700,000 $4,995,000 94%
31055 County Road 64 Other $7,000,000 $7,900,000 89%

Phenomenal Summer for Single Family Homes West of Steamboat

While most part time residents of Steamboat are looking for something close to the Steamboat Ski Area when buying a Steamboat property, many locals call the area West of Steamboat Springs home. Away from the crowds of town, but close enough to drive to school or work, the main neighborhoods in the West include Silver Spur, Heritage Park, Steamboat II, West End Village, and Riverside. They also offer lower price points that more can afford which has been the driving force in our market since the start of 2015.

We’ve had a phenomenal summer in single family homes market on the west side of Steamboat. Since June 1st, there were 20 sales. Single family homes in Steamboat II led the way with 9 sales and average price of $442K, followed by 6 in Silver Spur at $588K average price, and Heritage park had 4 sales at an average sold price of $527K.

Currently there are 6 other single family homes under contract on the west side of Steamboat: 3 at Heritage Park, 2 in Silver Spur and 1 in Riverside. With only 4 properties left on the market, the West of Steamboat real estate inventory is very low pointing to an opportunity for homeowners who are on the fence about selling their home.

See all the homes and available for sale West of Steamboat here, or scroll down to see the summer of 2015 sales.

Develop Address Status Price Ask Price % Sold
Heritage Park 40187 Lindsay Dr. SOLD $577,500 $595,000 97%
Heritage Park 27494 Brandon Circle SOLD $607,000 $625,000 97%
Other 2915 Riverside Drive SOLD $550,000 $549,000 100%
Silver Spur 27629 Winchester Tr. SOLD $455,000 $455,000 100%
Silver Spur 27373 Winchster Ct SOLD $700,400 $710,000 99%
Silver Spur 27624 Winchester Tr. SOLD $720,000 $775,000 93%
Silver Spur 27911 Silver Spur St. SOLD $589,000 $599,000 98%
Silver Spur 27690 Silver Spur St. SOLD $590,000 $615,000 96%
Silver Spur 27653 Silver Spur St. SOLD $475,000 $489,900 97%
Steamboat II 40510 Anchor Way SOLD $484,000 $489,000 99%
Steamboat II 40530 Anchor Way SOLD $485,000 $499,000 97%
Steamboat II 40545 Anchor Way SOLD $419,000 $419,000 100%
Steamboat II 40505 Anchor Way SOLD $442,000 $439,000 101%
Steamboat II 40495 Anchor Way SOLD $445,000 $489,000 91%
Steamboat II 40425 Haven Place SOLD $351,500 $375,000 94%
Steamboat II 40541 Steamboat Drive SOLD $367,000 $379,000 97%
Steamboat II 40540 Anchor Way SOLD $385,000 $398,000 97%
Steamboat II 40480 Anchor Way SOLD $605,000 $597,000 101%
Vista Ranch 27650 County Road 42 SOLD $815,000 $849,000 96%
West End Village 2388 Penny Ln #2B SOLD $410,000 $424,500 97%
Heritage Park 27361 Brandon Circle PENDING $599,000
Heritage Park 27450 Brandon Circle PENDING $675,000
Heritage Park 27486 Brandon Circle PENDING $675,000
Riverside Subd 2842 Riverside Drive PENDING $499,000
Silver Spur 27546 Silver Spur St PENDING $798,000
Silver Spur 40835 Purple Sage St. PENDING $645,000