Steamboat Market Trends
2015 Annual Market Update
After years of wild swings, 2015 saw the return of a stable market to Steamboat Springs. Sales volume for the year was slightly above $1.0 billion which was consistent with 2014 sales volume. The 2015 year-end listing volume was at $1.2 billion, which again was very consistent with the 2014 year-end sales listing volume.
These two factors point to a balanced market, in which
neither sellers nor buyers have a distinct advantage.
Once again in 2015, Colorado Group Realty participated in almost 30% of all Steamboat Springs real estate
transactions. I would be glad to discuss the market with you, just give me a call!
2015 Mid Year Market Update
The real estate market in the City of Steamboat Springs continues to be strong. For the first six months of 2015, the number of transactions were 249 with is basically the same number of transactions for the first six months of 2014. Total sales volume was $134 million which down slightly (7%) from the same period of 2014.
Inventory continues to tighten in the city. As of June 30, 2015, the number of condos and townhome on the market dropped by 13% from the prior year to 350 units. The number of residential lots dropped by 29% to only 94 lots. The same trend was seen in single family homes listed for sale. That segment of the market dropped by 15% to 116 homes for sale.
At present the market does not significantly favor buyers or sellers. But if this tightening of inventory continues into the first part of 2016, the equilibrium currently seen may shift in favor of the sellers.
Colorado Group Realty continues to participate in almost 30% of all real estate transactions. If you have any questions about the market, please contact your Colorado Group Realty broker.
2014 Market Update
During 2014 the Steamboat Springs market rebounded strongly. Total sales for 2014 were just over $1 billion, an increase of over 30% from 2013. Inventory at the end of 2014 of $1.212 billion was slightly greater than inventory at the end of 2013 but still below
2014 saw significant increases in the sales of both single family homes and condos/townhomes, driving down inventory levels in both of those market categories. Multiple offers and bidding wars have returned to some market segments.