Real Estate Market Report for Steamboat Springs

Real Estate Market Report for Steamboat Springs

Routt County / Steamboat Springs

August 2013 was still a decent month for Steamboat Real Estate.  While the real estate Market Report shows transaction volume was down -10.70 % from August 2012, the Year to Date gross volume is still up +8.06 % over last year’s gross.  On a transaction basis, August was down -21.01%, while the Year to Date is still up +8.00%.

Looking at the numbers below, September was a great month for sales. That means July and August were busy months for properties going under contract.  Pending sales remain strong and inventory is dropping slightly.

Six month snapshot

Solds in Steamboat SpringsSolds in Steamboat Springs

Prices: Over the summer we saw inventories go up. With this increase in supply, prices were up slightly but not dramatically like we saw in the spring time.   Although the market report shows sales continue to be strong in Steamboat Springs, prices are leveling off and we’re seeing more stability in the Steamboat real estate market.

Absorption Rate:

Healthy Real Estate Market = 6 months inventory

Buyer’s Market = Above 6 months inventory

Seller’s Market = Below 6 months inventory

(OLD TOWN / FISH CREEK / MOUNTAIN AREA)

All Price Ranges

SINGLE FAMILY HOMES = 8.7 months

TOWN HOMES = 8.9 months

CONDOS = 10.1 months

 

Under $500,000

SINGLE FAMILY HOMES = 2.5 months

TOWN HOMES = 5.4 months

CONDOS = 7.17 months

 

$500,000 – $1,000,000

SINGLE FAMILY HOMES = 7.3 months

TOWN HOMES = 12.7 months

CONDOS = 29.8 months

 

$1,000,000 Plus

SINGLE FAMILY HOMES = 27.6 months

TOWN HOMES = 12.5 months

CONDOS = 42 months

 

Overall, we are a pretty healthy market leaning towards a Buyer’s Market but for inventory under $500,000, it’s a Seller’s Market.

 

Who are the buyers of Steamboat Springs real estate and where are they buying?

Nationally

S&P Case-Shiller report for July, which tracks the health of the national housing market, reports that prices and value are up.

S&P Case-Shiller report for JulyCase-Shiller Report July 2013

The latest S&P/Case-Shiller National Home Price Index, showed that home prices were up in all 20 cities.  It also posted a 12.4% increase in home prices in July 2013 compared to July of 2012.

Monthly, the 10- and 20- Composite Indices both saw an increase of at least 1.8% in July.

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

Want to learn more about me?
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
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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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