Archive for steamboat springs real estate

Steamboat Springs Real Estate Sales 2018

Steamboat springs luxury kitchen

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.

Steamboat Single Family Home Sales Thru April

View of Tree Haus in Steamboat Springs

Steamboat Springs area homes have been selling almost as fast as they hit the market.  From January through May of 2018, 46 single family homes sold between $439,900 and $5,150,000 with the bulk of sales falling between $600,000-$1,300,000.  Over 60% of homes sold over $800,000 and 40% sold over $1,000,000.   I keep thinking the backlog of buyers should be reaching an equilibrium with supply, but then another home gets listed and sells within days.  Downtown, Tree Haus, Dakota Ridge, and the general Fish Creek area all have seen multiple sales.

Here is a full list of Steamboat Springs homes that sold recently:

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2017 Steamboat Real Estate Year End Review

2017 was the best year for Steamboat Springs real estate sales since the recession started a decade ago.  According to Melissa Gibson from Land Title, “Routt county ended 2017 with the highest gross sales volume since 2007!  We saw $809,183,833 in gross sales volume with a total of 1,608 transactions!  What a great year!  While December numbers were down slightly from 2016, the Year end gross volume was up 16.46% and transactions were up 4.48% compared to 2016. ”

See below how the Steamboat real estate market has trended since 2010, or call us at 970-819-6372 to talk about buying or selling a place of your own in Steamboat.

Steamboat Springs Real Estate Sales for 2017

July Steamboat Home Sales

Downtown Steamboat Springs

Buyers looking to purchase a Steamboat single family home are experiencing a frustrating summer buying season, but most are finding homes even if it takes a couple of tries.  Houses in Steamboat are selling for an average 98% of the list price, so there isn’t much room to negotiate. And almost 25% of home purchases are closing at or above the list price showing how common multiple offer situations have become.

Median Steamboat Springs real estate prices are up 22.75% from the second quarter of 2016, and total dollar volume is up 29% YTD from last year.  Here are a few other stats from Melissa Gibson at Land Title:

  • Median Residential Price: up +22.75% from Q2 2016
  • Gross Sales Volume: up +29.05% from Q2 2016
  • Average Residential Price:up +1.70%  from Q2 2016
  • Buyer Profile: 54.09% Local, 16.08% Front Range, 29.38% Out-of-State,  0.43% International

Click here to see all homes available for sale, or scroll down to see a list of Steamboat area homes and duplexes that sold in July:

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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.

Steamboat’s 2017 South Valley Home Sales

Sidney Peak Ranch entry

The area south of Steamboat Springs is one of the most desirable locations in Routt County, and prices reflect that. Homes in Sidney Peak, Agate Creek, Big Valley Ranch, and other developments regularly sell above $2M.  Custom homes on large land parcels often command more.  Scroll down to see the 2017 home sales in the South Valley, or contact us to learn more about buying or selling real estate in Steamboat.

Address Steamboat Area Development Asking Price Sold Price  
26600 Henderson Park Road Henderson-Parke $795,000  $700,000  3/3/2017
31025 Sweetwater Dr. Agate Crk Preserve $2,395,000  $2,300,000  5/25/2017
28105 Big Valley Dr Big Valley Ranch $2,395,000  $2,225,000  4/13/2017
31485 Deerwood Ranch Road Deerwood Ranches $1,175,000  $1,144,000  3/10/2017
33100 County Road 41 Other $795,000  $785,000  4/21/2017
29150 Buffalo Trail Sidney Peak Ranch $2,695,000  $2,310,000  5/19/2017
30860 Elk Lane Spring Green Subdivision $1,239,000  $1,170,000  3/30/2017
31740 County Road 35 Steamboat Hills Subd $549,000  $520,000  6/9/2017
30845 RCR 35 Whitecotton Subdivision $849,000  $834,000  6/19/2017
33855 Pine Drop Dr. Wildflower Meadows $11,250,000  $9,000,000  1/31/2017

Building Permits Reveal Steamboat Real Estate Trends

The Rout County Building Dept issues building permits for all types of structures from single family to duplex, multiple family, accessory structures, commercial/industrial, and additions/renovations, in both the county and within the city limits of Steamboat Springs.  For years, building has been slow and sub contractors were more affordable and available, but that is no longer the case, especially within the city limits.

For comparison sake, we’ll look at the single family  (SF) home permits. In 2007, there were 31 permits issued for SF homes in the City of SS and 127 pulled in the county, outside of city limits.   By 2010, these numbers dropped by 77%  (7 SF permits issued) in the city limits and dropped by a whopping 95% in the county.  By year end 2016, the SF permits within city limits had more than recovered, ending at 110% of 2007 levels (34 permits issued). Although improving, the county was slower in their pace of recovery with only 54 SF permits issued which was still 57% off 2007 numbers.

In total, Routt County is still 44% down from 2007 in terms of quantity of SF permits issued, but if you look at the property valuations for these same properties, the county was only 26% off of 2007….indicating a rise in building costs.  This analysis exposes two trends that are worth analyzing in subsequent articles…why has the city recovered so much faster than the county and why are building costs exceeding those in the height of the 2007 market

This article was guest written by Kelly Becker.  To contact Kelly about new construction or what to expect when building a home in Steamboat, call her at 970-846-2300.

Steamboat Springs Real Estate 2010-2017

2017 Steamboat Springs real estate dollar volume is eclipsing dollar volume of past years, especially since it was announcemed that Aspen will acquire Steamboat later this year.  As we head into the second half of the year which has traditionally been the busiest time for real estate sales, we will see higher dollar volume or higher prices (both?) due to low inventory.

As a buyer, it’s hard not to get caught up in the emotion when you see the right property.  Trust us to help you navigate the current market with excellent negotiation skills and a calm demeanor by calling 970-819-6372.  

Steamboat Springs Real Estate Dollar Volume 2010-2017

City of Steamboat 2017 Home Sales

Graystone on the Green home in Steamboat Springs

Forty-nine homes sold in the City of Steamboat (downtown, mountain and Fish Creek areas) to date in 2017 for a median price of $910,000.  Interestingly, the median list price for homes currently listed for sale in the same neighborhoods is $1,299,500.  Only 22 homes are for sale under $1,000,000.  Prices are rising due to low inventory and strong demand.

Here is a list of sales in 2017, or you can search for available homes for sale in Steamboat Springs here.

Area Address Steamboat Development Asking Price Sold Price Closing Date
1-DOWNTOWN AREA 333 Short St. #A 1St Add To Ss $529,500  $486,000  3/3/2017
1-DOWNTOWN AREA 425 8th Street 1St Add To Ss $849,000  $815,000  6/16/2017
1-DOWNTOWN AREA 1094 Uncochief Campbell Subdivision $1,210,000  $1,100,000  5/15/2017
1-DOWNTOWN AREA 1088 Uncochief Circle Campbell Subdivision $1,249,000  $1,215,000  5/5/2017
1-DOWNTOWN AREA 140 Park Ave CrawfrdAddtoSS $875,000  $860,000  6/22/2017
1-DOWNTOWN AREA 37 Park Avenue CrawfrdAddtoSS $1,550,000  $1,429,500  6/1/2017
1-DOWNTOWN AREA 16 Woods Dr Deerfoot Height $575,000  $580,000  6/15/2017
1-DOWNTOWN AREA 583 Gilpin Street Fairview Add Ss $575,000  $570,000  4/13/2017
1-DOWNTOWN AREA 1167 Gilpin Court Fairview Add Ss $835,000  $825,000  4/28/2017
1-DOWNTOWN AREA 1082 The Boulevard North Highlands $817,500  $785,000  6/16/2017
1-DOWNTOWN AREA 853 North Park Road Other $698,000  $670,000  2/9/2017
1-DOWNTOWN AREA 1184 & 1186 Saratoga Ave. Other $762,000  $750,000  5/31/2017
1-DOWNTOWN AREA 837 Douglas Street Yahmonite Add SS $579,000  $555,000  1/13/2017
2-FISH CREEK AREA 641 Creel Lane Anglers Retreat $1,530,000  $1,530,000  5/10/2017
2-FISH CREEK AREA 145 Huckleberry Lane Aspen Heights Subdivision $569,000  $559,000  3/24/2017
2-FISH CREEK AREA 1750 Fish Creek Falls Road Aspen Meadows Subdivision $835,000  $835,000  3/27/2017
2-FISH CREEK AREA 568 Sandhill Circle Emerald Knoll $699,000  $675,000  3/28/2017
2-FISH CREEK AREA 1840 Alexandre Way Fish Creek Hill $1,195,000  $1,195,000  5/25/2017
2-FISH CREEK AREA 1372 Anglers Dr Fish Creek Meadows $1,275,000  $1,275,000  5/19/2017
2-FISH CREEK AREA 315 Blackberry Lane Fox Hollow Subdivision $1,140,000  $1,100,000  4/21/2017
2-FISH CREEK AREA 747 Anglers Pond Hinsdale Subdivision $2,850,000  $2,450,000  5/15/2017
2-FISH CREEK AREA 370 Kelhi Ct Margarite Ridge $845,000  $818,000  4/27/2017
2-FISH CREEK AREA 415 Alpine Ct. Steamboat Point Subdivision $525,000  $525,000  6/7/2017
2-FISH CREEK AREA 585 Wyatt Drive Tamarack Point Subdivision $599,999  $560,000  2/8/2017
2-FISH CREEK AREA 554 Wyatt Way Tamarack Point Subdivision $635,000  $635,000  3/28/2017
2-FISH CREEK AREA 1180 Blue Sage Drive Willett Heights Subdivision $610,000  $641,000  6/7/2017
2-FISH CREEK AREA 350 Blue Sage Cir Willett Heights Subdivision $695,000  $681,000  5/25/2017
2-FISH CREEK AREA 690 Amethyst Drive Willett Heights Subdivision $695,000  $689,050  4/21/2017
2-FISH CREEK AREA 315 Blue Sage Circle Willett Heights Subdivision $939,000  $910,000  2/17/2017
3-MOUNTAIN AREA 2335 Clubhouse Dr Country Club Highlands $1,235,000  $1,217,000  1/31/2017
3-MOUNTAIN AREA 2050 Clubhouse Drive Country Club Highlands $1,290,000  $1,269,000  4/20/2017
3-MOUNTAIN AREA 855 Fox Lane Eagles View Subdivision $2,390,000  $2,100,000  5/24/2017
3-MOUNTAIN AREA 1313 Robert E Lee Lane Fairway Meadows Subdivision $1,100,000  $1,025,000  1/26/2017
3-MOUNTAIN AREA 1165 Redwoods Drive Fairway Place Subdivision $1,629,000  $1,525,000  6/16/2017
3-MOUNTAIN AREA 1224 Clubhouse Circle Graystone on The Green $1,495,000  $1,708,860  3/10/2017
3-MOUNTAIN AREA 1259 Clubhouse Circle Graystone on The Green $2,100,000  $2,020,000  3/14/2017
3-MOUNTAIN AREA 1814 Hunters Court Hunters Ridge $995,000  $935,000  2/22/2017
3-MOUNTAIN AREA 1225 Meadowood Court Meadowood Subdivision $865,000  $815,000  4/14/2017
3-MOUNTAIN AREA 2910 Burgess Creek Rd. Rendevous Trails Subdivision $1,225,000  $1,150,000  4/7/2017
3-MOUNTAIN AREA 2650 Ridge Road Rendevous Trails Subdivision $1,495,000  $1,485,000  3/10/2017
3-MOUNTAIN AREA 2820 Trails Edge Rendevous Trails Subdivision $1,797,000  $1,759,500  5/5/2017
3-MOUNTAIN AREA 858 Dougherty Road River Place Subdivision $439,000  $429,000  5/15/2017
3-MOUNTAIN AREA 810 Dougherty Rd. River Place Subdivision $579,000  $550,000  5/10/2017
3-MOUNTAIN AREA 2195 Val D’Isere Circle Ski Ranches Subdivision $1,295,000  $1,182,500  5/12/2017
3-MOUNTAIN AREA 2895 Trails Edge Trails Edge Subdivision $1,999,000  $1,950,000  2/16/2017
3-MOUNTAIN AREA 37190 William William Tree Haus $765,000  $715,000  6/20/2017
3-MOUNTAIN AREA 37045 William William Tree Haus $1,299,000  $1,255,000  4/4/2017
3-MOUNTAIN AREA 2645 Bronc Buster Loop Wildhorse Meadows – The Range $1,499,000  $1,420,000  1/31/2017
3-MOUNTAIN AREA 2624 Bronc Buster Loop Wildhorse Meadows – The Range $2,400,000  $2,350,000  4/12/2017