If you look at the chart on the right, Steamboat single family average home prices went up in 2012 compared to a year ago. But when I looked at the sales in the Steamboat MLS, I got conflicting data.
According to the Steamboat MLS,
- 269 Single Family homes sold
- 32% were bank-owned foreclosures
- The average price of a non-bank owned home was $762,337
- The average price of a bank-owned home was $302,049
To date in 2012,
- 145 Single Family homes sold
- 26% were bank owned
- The average sale price of a non-bank owned home was $694,939
- The average sale price of a bank owned home was $287,427
There were at least two large real estate sales (one was almost $20 million, the other was $14 million) that closed in 2012. These were private sales not recorded in the MLS and may have skewed the average sales price higher.
The bottom line: Single family homes in certain price points are in short supply. Homes under $500,000 sell fast if they are in good condition. More higher-end homes are selling and inventory of good homes is limited.
If you would like to learn more about buying or selling Steamboat real estate, call us at 970-819-6372.