Steamboat Springs Real Estate Market Report

Steamboat Springs Real Estate Market Report

December was a great month for the Steamboat Springs real estate market. December 2012 was the best month of 2012.   December 2011 was a good month. And December 2012 was even better.  Steamboat Springs Market Report Dec 2012

$$$ Dollar volume increased a whopping 56% compared to December 2011 and the number of transactions decreased 4%.

For the year 2012 compared to 2011, the dollar volume increased 7.4% while the number of transactions decreased 15.8% (This shows me prices are on the rise)

For the 4th Quarter, new listings decreased 35.4% compared to 4th Quarter of 2011. (This shows supplies is decreasing)

As we all know, supply and demand drives real estate prices. The trend in Steamboat Springs and the country is indicating that the supply is decreasing and since people are buying homes, this demand translates to NOW might be a good time to BUY.

Highest Price Per Square Foot ( PPSF) for December 2012:

The highest PPSF was a large ranch outside of Hayden  that sold for over $10 million so the PPSF is not that relevant.   The next highest PPSF was a One Steamboat Place Condo at $853.38 .

Bank Owned

16% of the overall transactions were bank sales for 2012. In December, 21% of the overall transactions were bank sales with the Trailhead Lodge leading the pack with 15 sales. Bank sales have had a large impact on the supply of homes for sale and this influence will start subsiding as more and more units are sold.

Market Report

Steamboat Springs Market Report Dec 2012

Steamboat Market Stats
Steamboat Market Stats
S&P/Case-Shiller Home Price Indices

Case-Shiller tracks changes in value of residential homes nationally and in 20 metropolitan regions.

Case-Shiller just reported reports home values rose 5.5% in the 12 months ending November 2012, and the average home price is now back at the 2003 level.

Month over month prices dipped slightly but experts are saying that is due to a “seasonal weakness” and to be expected this time of year.

The National Association of Realtors said there is a slight decline in contracts as well which indicates a lack of supply. Again, that supply and demand thing.

As I’ve been saying for months, things are looking up in the Steamboat Springs real estate market and I predict more of the same.

snow downtown

 

Regards,

Charlie

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About SteamboatsMyHome.com

Originally from Seattle, Washington, Charlie relocated to Steamboat Springs with his wife Carol and their son, Finn, to become a Steamboat Springs realtor eager to share the joys of Colorado. Charlie is a second generation realtor and is proud to be a member of Steamboat Sotheby's International Realty in Steamboat Springs, Colorado. After graduating from Whitman College in Walla Walla, Washington, Charlie worked in the high-tech industry in Seattle for several years before deciding to follow his father's lead and began his career in real estate. Working for Windermere Real Estate in Seattle, Charlie had a great, innovative career in the highly competitive Seattle market before moving to Steamboat in 2005 and delving deep into Steamboat Springs real estate. At Steamboat Sotheby's International Realty, Charlie has become one of the top agents with his innovative style and tireless perseverance.
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