Real Estate Market Report for Steamboat Springs, CO

Real Estate Market Report for Steamboat Springs, CO

Happy New Year! I hope that your holidays were joyous and the new year prosperous.

As we head into 2015, let’s talk real estate and absorption rate. This is the rate at which available properties are sold in a specific real estate market during a given time period. a normal healthy real estate market has about 6 months of inventory. More than 6 months is a “buyers market” and less than 6 months is a “sellers market.” We are seeing good improvements for most of our market.  Search all homes, townhomes and condos here.

Single Family Absorption Rate

Single Family Absorption Rate

Townhome Absorption Rate

Townhome Absorption Rate

Condo Absorption Rate

Condo Absorption Rate

 

Steamboat Springs Real Estate Market

While November real estate transactions in Routt County was down from what we have seen over the past few months, it was still good for this time of year and the best November we have seen since 2009 with $41.4M in gross sales and 106 transactions.

> 35% of transaction volume was under $500,000 (56% in October)
> 41% of transaction volume was between $500,001 – $1,000,000 (31% in October)
>  24% of transaction volume was over $1M – $3M (12% in October)
>  0% of transaction volume was over $3M (1% in October)
 5 bank sales
> YTD dollar volume is up +25.3%
YTD transactions are down -0.93%

November 2014 Routt County Real Estate Analysis by Land Title

National Real Estate Market

The S&P Case-Shiller Home Price Index for October 2014 reported continued slowdown of home price increases across the country, although eight cities saw prices rise faster. The national index, which covers all 9 census divisions, recorded a +4.6% annual gain in October 2014 while the 10-City Composite and 20-City Composites recorded an +4.4% and +4.5%increase over October 2013.

Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices, David M. Blitzer, states, “After a long period when home prices rose, but at a slower pace with each passing month, we are seeing hints that prices could end 2014 on a strong note and accelerate into 2015. Two months ago, all 20 cities were experiencing weakening annual price increases. Last month, 18 experienced weakness. This time, 12 cities had weaker annual price growth, but eight saw the pace of price gains pick up. Seasonally adjusted, all 20 cities had higher prices than a month ago.”

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

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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