Steamboat Springs Market Report May 2013
Highest dollar volume in over 5 years for March, 2013.
Total sales for March: $55,795,100 (up 46%)
Year-to-date sale: $120,966,700 (up 17.23%)
Marabou Ranch sells remaining lots for over $11+ million dollars. The Marabou Ranch Subdivision , one of Colorado’s premiere fishing developments, sold last month to an investment group with ties to William Stolz and the Stolz Group out of Georgia.
Sales for March:
Dollar volume was up 46.5% the month of March compared to last year! However, that is a little misleading because the actual number of transactions was 28% less than the same time last year. We just had two, high-end, five million dollar sales which threw our numbers off a little. Three sales over 3 million dollars grabbed 46% of the dollar volume of sales.
As usual, excluding timeshares, the mountain area had the highest number of sales, almost 20% of the total, but only 12% of the total dollar volume. Lower priced condos and townhomes are still hot. Year-to-date, the mountain area leads the pack with over 28% of the sales with the median sales price being $320,000.
The following graph gives you the year to date number of transactions and dollar volume by area:
Highest priced single-family home sale in March:
$5.9 million on CR #64.
Highest price per square foot in March:
$616.20 in the Priest Creek area.
The top 3 lenders for Routt County:
Wells Fargo, Chase, and Cornerstone
Buyer Profile Year to Date:
50% Out-of-state 39% Local 11% Front range 1% International
Case-Shiller, which tracks the health of our housing market, reported April 30th, that the February home prices continued to show a “solid increase” across the nation. Phoenix has seen a year-over-year return of +23% ! The 20-city Composite index posted an annual Home Price increase of 9.3% which is the largest seen in almost seven years.
Usually the housing market is a little slow in the winter; however, December, January, and February prices actually went up.
Spring is in the air – inventory is low, the housing market is improving nationwide, and interest rates are still low!
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