Steamboat Real Estate Home Search and Blog

Steamboat real estate activity is quickly picking up following a slow winter, with some properties receiving multiple offers after sitting idle on the market for months.

Only $12,000,000 in real estate changed hands in February, the lowest real estate volume in over five years.   Those sales reflect contracts written in December and January when the market was at its slowest.

The last two weeks in March have seen a dramatic uptick in showings and offers.  Fourteen properties closed and 15 went under contract during the last weeks of March.  New developments, like Howelson Place, are starting to close and live/work units at Riverfront Park on the Yampa River are moving.

Foreclosures are beginning to affect Routt County real estate.  At least two high-end properties this week are bank-owned properties under contract with buyers looking to buy property at a steep discount.  Stagecoach also has a few pre-foreclosure or foreclosed properties with incredible prices.

Routt County is not immune from the economic issues affecting the nation.   The real estate bubble burst later in Steamboat than it did in other parts of the country.   California, Florida, and Arizona had a dismal 2007 while Steamboat Springs, with the purchase of Intrawest, had a record-breaking year.

The speculators who purchased property two years ago hoping to profit from the 15-25% increases are the ones who are caught in the downturn.

Fortunately, Steamboat Springs doesn’t have the excessive inventory other real estate markets have.  We have some new projects that could use some buyers, but once the pendulum swings back and buyers enter the marketplace again, the inventory that is making this year an incredible buyers market will be absorbed.

Call me at (970) 819-6372 or contact me for more details or to learn what properties are too good to pass up.

Here are the Steamboat and Routt County transaction details of the past two weeks:

Steamboat RESIDENTIAL Real Estate– Solds

ADDRESS	BR	Tot Sq Ft	LP	SP
Steamboat Grand Fractional Mt. Werner Cir	Two	1327	$75,000	$63,000
Steamboat Grand Fractional Mount Werner Circle	Two	1327	$79,000	$66,000
Craig, CO Single Family Finley Lane	Three	1352	$209,900	$200,000
Fish Creek Area Duplex Cherry Drive	Three	1404	$359,900	$352,500
Quail Run Townhome Covey Cir	Three	1618	$535,000	$505,000
Mountain Area Single Family Whistler Road	Four	2636	$679,000	$625,000
Howelson Place Luxury Downtown Condos Lincoln Ave.	Two	1162	$697,200	$727,200
Mountain Area Single Family Homestead Court	Five	5245	$1,095,000	$1,000,000
Mountain Area Townhouse Snowflake Circle	Four Plus	3104	$1,099,000	$1,000,000
Howelson Place Luxury Downtown Condos Lincoln Ave.	Two	1621	$987,120	$1,017,120
Stagecoach Luxury Single Family Home Stagestop Trail	Four	4584	$1,300,000	$1,200,000
Total Listings			Avg	Avg
11			$646,920	$614,165

Steamboat RESIDENTIAL Real Estate – Pending/Under Contract

ADDRESS	BR	Tot Sq Ft	LP	$/Tot Sq Ft
Fractional Ownership at The West Mt Werner Cr	One	515	$21,900	$42.52
Yampa, CO Manufactured Home Main St.	Three	1155	$150,000	$129.87
West End Deed Restricted Townhome Abbey Ct	Two	1152	$262,500	$227.86
Hayden, CO Single Family Honeysuckle Drive	Three	1272	$279,000	$219.34
Mountain Area Meadowlark Condo Village Dr.	Two Plus	1085	$299,900	$276.41
Mountain Area Timber Run Condo Walton Creek Rd	Two	938	$307,000	$327.29
Red Hawk Village in Stagecoach Sagebrush Circle	Three	1951	$315,000	$161.46
Phippsburg Single Family 4th Avenue	Three Plus	3870	$329,000	$85.01
Mountain Area Eagle Ridge Lodge Flattops Circle	Two Plus	1147	$499,999	$435.92
Steamboat Old Town Single Family Merritt	Two	1240	$529,000	$426.61
South Valley Single Family Deerwood Ranch Rd	Four	4560	$600,000	$131.58
Old Town Single family Soda Ridge Way	Five	3341	$1,499,000	$448.67
South Valley Single Family Emerald Meadows Dr	Six	6262	$1,600,000	$255.51
Total Listings			Avg	Avg
13			$514,792	$243

Steamboat Springs and Routt County LAND – Sold

Ask Price	Acres #	Legal Desc	LP	SP
$150,000	5	Acreage in South Valley	$150,000	$140,000
$650,000	260	Moffat County Acreage	$650,000	$585,000
			Avg	Avg
			$400,000	$362,500

Steamboat Springs and Routt County COMMERCIAL/INDUSTRIAL Real Estate – Sold

ADDRESS	LP	SP
Riverfront Park Live/Work Bridge Lane	$615,000	$512,500
Total Listings	Avg	Avg
1	$615,000	$512,500

Steamboat Springs and Routt County COMMERCIAL/INDUSTRIAL Real Estate- Pending

ADDRESS	Sq Feet	LP
Craig, CO Business Only Yampa		$40,000
Riverfront Park Live/Work Bridge Lane	2066	$525,000
Total Listings		Avg
2		$282,500