With the announcement in December that Intrawest is going to purchase our ski mountain, real estate activity in January 2007 went into high gear. The final stats were announced recently, and the highlights are as follows:
The total sales volume in January 2007 was $100,388,000. This represents a 110% increase from the previous January. However, the number of units sold was down 20% reflecting appreciation of prices.
Our Mountain Area sales accounted for almost half of the sales volume. The average sales price on the mountain was $692,899, but 52% of that volume was from residential units above $1,000,000.
Housing inventory is low in both the single family and condo markets, but that will change this year. Five new developments will be starting downtown this spring, and Wildhorse Meadows and One Steamboat Place are developments being built up on the mountain. Add the changes our community expects Intrawest to make, and you can see that Steamboat is on the brink of some big changes.
(Information provided by Bruce Carta of Land Title Guarantee Company)