Steamboat Real Estate Update

 

Steamboat Real Estate Update

Steamboat Springs CO
Steamboat Springs CO

     Routt County

Hot, hot, hot. The days are hot and the real estate in Steamboat Springs is hot too.  May 2013 dollar volume was up 25.16% over last year 2012. Year-to-Date, dollar volume is up 21.97%. Transactions were up 31.65% from May 2012 and Year-to-Date transactions are up 18.36%.

Three month snapshot

Date                                            Pending                             Sold 30 days                   Inventory

5/1/13

135

38

1584

6/1/13

131

59

1610

7/1/13

141

62

1705

Sales remain strong, but the Steamboat MLS inventory has risen.  This rise in inventory will slow absorption rate – meaning it might take a little longer to sell a home. That said, well priced, attractive homes are selling fast.

Prices: Prices are up . . .  but not out of control. Properties in Steamboat are seeing a slight increase in values but we are not seeing large increases like we did back in 2006-2008.  These are healthy real estate gains. Like many areas across the country, I could see values and prices continue to rise over the year. This is great for home owners and those looking to refinance. For buyers today, we are seeing prices increasing as well as interest rates going up too making home affordability go down. 

Click here to see full Steamboat Springs Market Report

   Nationally

S&P/Case-Shiller, which tracks the health of the national housing market, reports on three indices. Two are monthly statistics gathered from major metropolitan areas: the 10-City Composite and the 20-City Composite. And one reports on quarterly data based on the U.S. census divisions, The National Home Price Index.

The latest S&P/Case-Shiller National Home Price Index, posted a 12.1% increase of home prices in April 2013 compared to April of 2012. And 2.5% increase from the previous quarter.

Case Shiller April
Case Shiller April
Case Shiller March

Monthly, the 10- and 20- Composite Indices both saw an increase of 2.5% in April.

All the city indices have had positive gains for the last 3 months with cities like Phoenix and Las Vegas having over 20% increases from last year.

The chart below shows the average home price from the 10- and 20- Composites to be back to late 2003 home prices.

Case Shiller April
Case Shiller April
Case Shiller Home Prices

Click here to see the full Case-Shiller market report

Please contact me if you would like to discuss the Steamboat Springs housing market. I’m passionate about Steamboat and real estate!

Regards,

Charlie

Charlie Dresen
Real Estate Associate Broker |Prudential
Local Knowledge | Global Exposure| Defining Service 
970-846-6435 | SteamboatsMyHome.com
610 Market Place Plaza, Steamboat Springs, CO 80487
Advertisements

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.
This entry was posted in Steamboat real estate, Steamboat Springs Market Report, Uncategorized and tagged , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s