The Real Estate Market is Improving in Steamboat Springs

The Real Estate Market is Improving in Steamboat Springs

Absorption rate is a key barometer to determine the health of a Real Estate Market.

Absorption rate is defined as:  how many months it would take to sell all the homes for sale in my area at the current rate they are selling.

In a healthy real estate market, a normal absorption rate is around 5-7 months of inventory. So if there were 70 homes for sale and on the average, 10 homes sold per month, the absorption rate would be 7.

In Steamboat Springs, the absorption rate for Single Family homes priced under a million continues to improve.

Steamboat Springs has three main areas within the city limits and these are the areas showing signs of improvement. Here’s the absorption rate for each key area within Steamboat Springs:

– Downtown or Old Town area = 3.5 months
– Fish Creek Falls area = 3 months
– The Mountain area = 5.4 months

If you are new to this concept, this means if our current number of homes on the market stays the same, it will take approximately 3 to 5 months to sell your home if it is in these areas and priced under $1,000,000.

If you want to learn more about any of these areas, click on the link below.

Old Town Steamboat Springs

Fish Creek Falls areas

The Mountain area

I like the direction we’re headed in Steamboat Springs. The real estate market is coming back and prices are on the rise.

If you would like to learn more about Steamboat Springs and the current real estate market, go to my website or give me a call.

Regards,

Charlie

970-846-6435

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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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