Steamboat Real Estate

It’s been a Buyers market in Steamboat for most of the year, but until this week, sellers have been getting pretty close to their asking price.  Sure, there have been price reductions along the way, but once a property is priced right, the offers come in close to the asking price.  Last week was the first time the list price to sold price for Steamboat Springs real estate slipped below the 95-96% it’s been for the last few months.

Eleven residential units sold this week, and all but one sold for lower than the asking price.   There wasn’t even one big transaction to skew the numbers; it was an across-the-board reduction for a list-to-sold ratio of 91%. (The property that sold for full price was in Hayden, the only place in the county that is still a sellers market for single family homes.)

In other words, Steamboat is now on sale. Buyers who are brave smart enough to put money in Steamboat real estate instead of the stock market or under their mattress are getting deals.

When was the last time Steamboat was on sale?  Eight years ago after 9/11.  Before that it was after the oil bust in the 1980’s.  Steamboat prices are now reduced for the third time in the last thirty years.  If now isn’t the time to buy, then it’s getting mighty close.

(You might want to call me at (970) 819-6372 and let me know what you’re looking for so I can keep my eyes open for you.)

Last week, 13 residential and vacant land parcels sold and 6 residential and commercial Steamboat properties went under contract. Here are the details:

Steamboat Real Estate RESIDENTIAL Summary Report

Steamboat Springs RESIDENTIAL Real Estate- Sold

Steamboat Multi-Class Summary Statistics
	High	Low	Average	Median
List Price:	$4,640,000	$35,000	$687,300	$337,000
Sold Price:	$4,640,000	$28,000	$788,823	$325,000

Develop	ADDRESS	BR	List Price	Sold Price
Steamboat Mobile Home Fish Creek	Fish Creek Park	Two	$35,000	$28,000
Multiple Homes/Investment Hayden, Colorado	S 2nd	Two	$255,000	$195,000
Hayden, CO Single Family Golden Meadows Hayden	Clover Cr.	Three	$207,000	$207,000
Steamboat Springs Condo Timbers Condo	E Highway 40	Two	$285,000	$261,000
Steamboat Deed Restricted Housing West End Townhomes	Abbey Ct.	Two	$325,000	$289,000
Steamboat Mountain Area Yampa View Condo	Longthong	Two	$339,000	$319,000
Steamboat Mountain Area Indian Meadows Townhome	3180 Ingles Ln.	Three	$335,000	$325,000
Fish Creek Falls Duplex Willet  Ridge Subdivision	Locust Court	Three	$535,000	$505,000
Steamboat Mountain Area Trappeurs  Crossing Condos	Medicine Springs Drive	Three Plus	$849,000	$825,000
South Routt Single Family Lynx Pass	TBD RCR 16	Three Plus	$1,195,000	$995,000
Steamboat Townhome North  Meadows	Steamboat Blvd.	Four	$1,090,000	$1,046,000
	Total Listings		Avg	Avg
	11		$495,454	$454,090

Steamboat Springs RESIDENTIAL Real Estate- Pending

Develop	ADDRESS	BR	LP
Steamboat Fractional Ownership Grand Summit Resort Hotel	2300 Mt. Werner Cir -	One	$58,900
Steamboat Mountain Area Whistler  Village Thm	Redwood	Two	$290,000
Steamboat Single Family Steamboat  II Subdivision	Anchor Way	Three	$499,000
Steamboat Single Family Fairview  Add Ss	13th Street	Two	$518,500
Steamboat Luxury Home The Sanctuary	Aspenwood Lane	Four	$1,895,000
	Total Listings		Avg
	5		$652,280

Steamboat LAND Summary Report

Steamboat LAND - Sold

Legal Desc	List Price	Sold Price	Acres
Buffalo Pass Area Dry Lake Exemption	$675,000	$619,700	15.01
Development Land on Hilltop Parkway PARCEL A EMERALD KNOLL-PEDDIE SUBDIVISION	$4,640,000	$4,640,000	2.67
	Avg
	$2,657,500

Steamboat COMMERCIAL Real Estate Report

Steamboat COMMERCIAL/INDUSTRIAL - Pending

ADDRESS	Sq Feet	LP	$/Sq Feet
Elk River Area 2670 Copper Ridge Circle	937	$240,000	$256.14
Total Listings		Avg	Avg
1		$240,000	$256