Year-End Real Estate Report for Steamboat Springs

Year-End Real Estate Report for Steamboat Springs

Steamboat Sotheby's Real Estate
Blue skies in January

Routt County real estate ended the year with a upswing of + 4.1% increase in gross volume and + 8.67% more transactions over 2012 despite a decline of – 53.21% in gross volume for the month of December. There were 110 transactions in December, which was – 15.38% less than December 2012, for a gross volume of $34M.

Here’s what happened in 2013:

> Year-end 2013 dollar volume was UP +4.10% over 2012

> Year-end 2013 total transactions were UP +8.67%

> Average price for single family homes up +8% from 1 year ago (Routt County)**

> Average price for Multi-Family (condos & townhomes) down -7% from 1 year ago

> Average price for vacant Land in Routt County was down -19% from 1 year ago

**8% is an average which can be misleading. Here’s more specific numbers: Fish Creek -11% / Old Town +5% / Mountain +2%.

Steamboat Springs’ real estate market continued to see more transactions and more gross dollar volume for 2013 over the previous year. Additionally, the average price for single family homes continues to increase at a seemingly more sustainable pace than the drastic price increases we saw several years ago.

But housing experts say that more modest price increases are probably a good thing for the housing market. The rapid increases of the past are not sustainable.

Click here for the complete 2013 Routt County real estate report

National Real Estate Market Update

Mortgage rates are rising and home price increases are slowing.   The latest S&P Case-Shiller show National Home Prices posting a 13.7% increase in November 2013 from November 2012 and a 0.1% decline from the previous month. This marks the first decrease in home prices since November 2012. 9 out of 20 cities saw a slight increase in home value from October to November.

Case-Schiller home indices

“While housing will make further contributions to the economy in 2014, the pace of price gains is likely to slow during the year,” said David Blitzer, chairman of the index committee at S&P Dow Jones Indices.

Below is a graphic from the New York Times of six houses in six different markets across the US and how the real estate market trends in their metropolitian areas have effected their prices.

New York Times' Six Houses Market Comparison
New York Times’ Six Houses Market Comparison

If you would like to learn more about Steamboat’s real estate market and the lifestyle that we enjoy here, please contact me or follow me on FacebookGoogle+YouTubePinterest and Twitter. I am passionate about this community and real estate, let me show you why.

Regards,
Charlie

Want to learn more about me?

Charlie Dresen
Real Estate Associate Broker |Sotheby’s
Local Knowledge | Global Exposure| Defining Service 
970-846-6435 | SteamboatsMyHome.com
Charlie@SteamboatsMyHome.com
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 Buying and Selling Real Estate, Steamboat real estate, Steamboat Springs Market Report 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