Archive for buying steamboat springs real estate

What Type of Steamboat Real Estate is Selling Best?

Barn Village Amenity Building with fitness and a swimming pool.

The short answer to what type of real estate is selling best in Steamboat this summer is:  Everything.  As of today, there are 239 pending properties currently in escrow, and 148 properties went under contract in the last month.  It’s been a very busy real estate year with buyers at all price points, and for all property types.  

Here is a quick snapshot of what is selling this summer:

  • 14% of pending properties are priced at less than $100,000
  • 10% are priced over $1,000,000
  • 57% are priced between $300,000-$900,000
  • 36% are single family homes
  • 15% are vacant land parcels
  • 35% are condos and townhomes

Another interesting observation is there were 19 price reductions today for listings currently on the market.  Some sellers were optimistic with their pricing, and now that we are halfway through the summer, they are getting more motivated to sell. The list-to-sold ratio is still a solid 96% for properties that sold since June.

Search all properties for sale in Steamboat Springs here, or call us at 970-819-6372 to talk about your situation.

Mortgage Rates at 3 Year Low

Fish Creek Meadows

Fish Creek Meadows

Mortgage rates have dropped again, which is good news for buyers looking to finance new Steamboat Springs real estate purchases.  About half the real estate sales in our area are financed.  The other 50% pay cash, pull money out of their primary residences by refinancing or getting a home equity loan, borrow against brokerage accounts, or use other creative financing options.

This week’s national rates are:

  • 3.54% for conventional 30 year financing
  • 2.81% for 15 year financing
  • 2.74% for 5 year ARMs

Buyers in Steamboat need to be aware that our resort market sometimes comes with different rules, so it’s a good idea to call us at 970-819-6372 to talk about financing.  For example, some condos do not qualify for conventional Fannie Mae financing so you may have to use an ARM or a local Steamboat lender.

See all properties for sale here, and call us if you are planning on borrowing money for your purchase.  We can often save you a lot of time.