Steamboat Springs Real Estate Trends—Median Prices are up 4% over last year
Like the rest of the nation, Steamboat Springs real estate sales have slowed. Credit is harder to get, and buyers are sitting on the sidelines waiting to see how the real estate drama plays out before making a move. Who wouldn’t? The headlines talk about how awful the real estate market is in some parts of the country and everyone thinks the bad news also applies to their neighborhood.
First, the facts. The median price for Steamboat Springs real estate is up 4% over last year.
The good news for real estate buyers is that Steamboat is a buyer’s market right now. That means if you’re looking to purchase, you have your choice of homes and can take some time to find the perfect one. You don’t have to settle for a place you saw for ten minutes before making an offer. You might even get a lower price accepted.
Some people are selling Steamboat real estate to cover losses in real estate in other parts of the country, so good buys are out there.
Contrast this year to last year when Intrawest purchased the Steamboat Ski Area and people couldn’t buy Steamboat real estate fast enough.
Here is the difference a year in the Steamboat real estate market makes:
| Last year (January 1, 2007-April 27, 2007) | This year (January 1, 2007-April 27, 2007) | Difference | |
| Steamboat Real Estate # Solds | 357 | 180 | (50%) |
| Total Dollar Volume Sold | $199,254,960 | $108,018,069 | (54%) |
| Average Days on Market | 96 | 127 | 31 days longer |
| Median Price | $365,000 | $381,000 | 104% |
| Highest Sold Price | $4,700,000 | $4,700,000 | same |
Posted: April 28th, 2008 under Real Estate.
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