Real Estate Market Report for Steamboat Springs, CO

Real Estate Market Report for Steamboat Springs, CO

Each month I report the latest local real estate market data and the current national home price levels, but why? First of all, I recognize that real estate is the biggest investment we will make in our lives; therefore, we should understand it before sinking our life’s savings into it. Advising clients on their real estate investments is a very important part of my job and one I take very seriously.

Secondly, with the real estate crash a few years ago we have become hyper-aware of investments and home values. So much of our consciousness is fueled by the appreciation or depreciation of our home’s value. By watching the real estate market we have a better understanding of when to invest, to sell and we begin to trust the ebbs and flows of the market.

So you can look at the Real Estate Market Report for Steamboat Springs, Colorado as your monthly barometer for the local and national real estate market. Here I provide accurate market data and trends so that you can make an educated decision for the most important investment of your life.

Colorado, fall, aspens,

Autumn colors around Steamboat Springs, Colorado.

The Steamboat Springs Real Estate Market

Routt County real estate transactions for the month of August were great and from the number of pending sales we have, looks like that trend will continue through September and October. As of today though, we’re seeing a slowing in real estate sale – but that’s normal for this time of year. The total gross dollar volume was $50M  which was +29.74% over August 2013. There were 133 transactions, an increase of +22% over last August.

Up until this month the year-to-date sales volume was below last year’s volume but after August we surpassed last year’s dollar volume and are up +2.64% in gross dollar volume. The number of transactions was up +6.79%.

33% of transaction volume was under $500,000 (36% in July)
> 45% of transaction volume was between $500,001 – $1,000,000 (28% in July)
>  22% of transaction volume was over $1M (36% in July)
>  4 bank sales
> YTD transactions are up +6.79%
YTD dollar volume up +2.64% 

September 2014 Routt County Real Estate Report

The National Real Estate Market

The S&P Case-Shiller Home Price Index for July 2014 reported continued slowdown of home price increases. This just means that home values are not going up as fast as they were 6 months ago. Home values are going up.  The national index, which covers all 9 census divisions, recorded a +5.6% annual gain in July 2014 while the 10-City Composite and 20-City Composites recorded an +6.7% increase over July 2013.

David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices comments, “While the year-over-year figures are trending downward, home prices are still rising month-to-month although at a slower rate than what we are used to seeing over the past couple of years. The National Index rose +0.5%, its seventh consecutive increase.”

Over the last 100 years, we can say home appreciation has been about 5% per year.  So todays number being 6.7% – that just says we’re becoming a more “normal” real estate market nationwide.

Home prices continue to rise two to three times the rate of inflation. As of July 2014, average home prices across the U.S. are back to their Spring 2005 levels.

S&P Case-Shiller National Home Price Index – September 2014

If you have questions about Steamboat Springs’ real estate market and the mountain resort lifestyle we enjoy here, please ask me. I am passionate about my community and real estate. 

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

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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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