Steamboat Springs, CO Housing Market Report

Steamboat Springs, CO Housing Market Report

A Synopsis of the Real Estate Market in Ski Town USA

So much to be thankful for: the ski area is open, a wonderful holiday meal with my family, strong growth in the Steamboat Springs, Colorado real estate market and more importantly, pending and home sales have settled into a predictable pattern.

Pending and sales December 2014

Pending and sales December 2014

Local Steamboat Springs Market

October proved to be another great month for Routt County real estate transactions with $75.1M in gross sales and 131 transactions.  In part, this was due to a high number of upper end sales; 11 transactions over $1M including an $11M ranch sale.  Even without the $11M sale, this was the best gross volume October we have seen since 2007.

Compared to October 2013, total gross volume was up +36.94% and transactions were also up +1.55%. Year-to-date gross dollar volume is up +14.32% and number of transactions are up +7.79% for the year.

> 56% of transaction volume was under $500,000 (31% in September)
> 31% of transaction volume was between $500,001 – $1,000,000 (24% in September)
>  12% of transaction volume was over $1M – $3M (17% in September)
>  1% of transaction volume was over $3M (27% in September)
 bank sales
> YTD transactions are up +7.79%
YTD dollar volume up +14.32%

October 2014 Routt County Market Analysis by Land Title

National Real Estate Market

The S&P Case-Shiller Home Price Index for September 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 +4.8% annual gain in September 2014 while the 10-City Composite and 20-City Composites recorded in +4.8 and +4.9%increase over September 2013.

While the overall trend in home price increases continues to slow down, “Other housing statistics paint a mixed to slightly positive picture,” states David M. Blitzer, Chairman of the Index Committee at S&P Dow Jones Indices, “Housing starts held above one million at annual rates on gains in single family homes, sales of existing homes are gaining, builders’ sentiment is improving, foreclosures continue to be worked off and mortgage default rates are at precrisis levels. With the economy looking better than a year ago, the housing outlook for 2015 is stable to slightly better.”

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.  Search Steamboat Real Estate here.

Looking for flights to Steamboat Springs? Look here.

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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