Stan Urban of Land Title wrote this Steamboat real estate update for December:
December was a great month! There were a total of 130 transactions totaling $73M in gross sales, making it the best month in 2012. On a monthly comparison basis, December 2012 was up +56% over last December 2011 in dollar volume and -4% in transactions. Closing the year, we were up +7.4% in gross volume and off -15.8% in transactions, mainly due to less fractional sales.
There were several high end sales that helped bump up the numbers, along with project sell off activity in Trailhead Lodge (and surrounding commercial land sales). It was a well-rounded month, with good activity in all the market sectors! Bank sales were up with 27. 15 of the Bank sales cross-over as sales in Trailhead Lodge.
Snapshot values closed the year well – with stabilization apparent in the Residential Improved sector: Single Family closed at +0% The following sectors are still showing weakness: Multi Family closed at -2% Vacant Land closed at -21% All of these values represent upwards movement from the prior YTD.
Both the Highest PPSF and Highest price are for a Metes and Bounds sale near Hayden that closed for $10.5M. It is a large ranch residential property with barn. The second highest PPSF is for an One Steamboat Place Condo, Unit R-802 which sold for $2,660,000 or $853.38 PSF. Trailhead Lodge had 15 closings – all categorized as Bank Sales: Total December Volume in Trailhead Lodge: $5,123,300 Average Price: $341,553 Average PPSF: $360.82 December 2012 Routt County Stats December Buyer Profile December Bank Sales Commercial Sales for 2012
Lastly I would like to say thank you for a great 2012 and I look forward to a great 2012. Sincerely, Stan Urban