Real Estate Market Report – Steamboat Springs, CO

Real Estate Market Report – Steamboat Springs, CO

First off, I want to thank everyone out there who voted for me in the Best of the Boat. I am honored to be a recipient this year.  Thank you.

best of the boat, best real estate agent, best real estate broker, Sotheby's, Charlie Dresen, SteamboatsMyHome

 

 

 

 

 

 

 

 

 

 

 

 

 

Now, on to the business at hand……

Here is what a real estate recovery looks like in Steamboat Springs.

Pending Sales

Steamboat Springs, CO Real Estate Market

As expected based on the number of pending sales over the past few months, Routt County real estate transactions for the month of September were outstanding! The best month of 2014 so far with 137 transactions and the best gross dollar volume ($81.4M) we have seen since 2009 – for any month.  Compared to September 2013, total gross dollar volume was up +69.47% and transactions were up +12.30%.

Granted, there were two huge sales, an $11.25M ranch sale and $17M commercial sale, which certainly contributed to the large dollar volume. Even without those two sales though, this was the best September for total dollar volume since 2007 and the highest number of transactions in a month in over 2 years.

31% of transaction volume was under $500,000 (33% in July)
> 24% of transaction volume was between $500,001 – $1,000,000 (45% in July)
>  17% of transaction volume was over $1M – $3M (22% in July)
> 27% of transaction volume was over $3M
>  3 bank sales
> YTD transactions are up +7.51%
YTD dollar volume up +11.07% 

September 2014 Routt County Market Analysis by Land Title

National Real Estate Market

With a few exceptions, real estate appreciation has been a healthy 5% for decades. More gains lead to the bubble. So that 5% seems to be the sweet spot for real estate annual appreciation. Great news this month, we have settled into that 5% zone again.

Case Shiller

Case Shiller

 

 

 

 

 

 

 

 

 

 

 

 

The S&P Case-Shiller Home Price Index for August 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 +5.1% annual gain in August 2014 while the 10-City Composite and 20-City Composites recorded an +5.5 and +5.6%increase over August 2013.

“The deceleration in home prices continues,” says David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, “Despite the weaker year-over-year numbers, home prices are still showing an overall increase, as the National Index increased for its eighth consecutive month.” Blitzer goes on to say, “Despite softer price data, other housing data perked up. September figures for housing starts, permits and sales of existing homes were all up.”

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

For questions about Steamboat’s real estate market and the Steamboat lifestyle, 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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