Archive for the ‘Housing Market’ Category

STEAMBOAT SPRINGS, CO REAL ESTATE REPORT & Building Boom

Wednesday, October 11th, 2017

Steamboat Springs, CO Real Estate Report for October, 2017

Click below for the latest Market Report brought to you by SteamboatsMyHome!

Screen Shot 2017-10-11 at 3.25.50 PMThe real estate market in Steamboat Springs continues to be strong. Primary residences are the area where were seeing the most activity. Low inventory and a strong demand has fueled prices to raise. As we head into ski season, we’ll see a transition from primary homes and town homes to more activity around second homes and ski area properties.

Thank you to the following companies for providing some of the statistics discussed:

Land Title Guarantee Company (click for full August report)

S&P Core Logic Case-Shiller Home Prices Indices (click for latest figures)

Steamboat Springs Board of Realtors (click for August roundup)

Tune in next month for another fun discussion. And if you have any real estate questions you’d like answered send me a text or email - 970-846-6435 or charlie@steamboatsmyhome.com

See you next time!

Steamboat Springs, CO Real Estate Report

Monday, September 11th, 2017

Steamboat Springs, CO Real Estate Report

Market Report Video Blog 2! Check it out here:

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Thank you to the following companies for providing some of the statistics discussed:

Land Title Guarantee Company (click for full July report)

S&P Core Logic Case-Shiller Home Prices Indices (click for latest figures)

To find out more on the Outlaw Mountain Coaster go to www.Steamboat.com or find Steamboat Resort on Facebook!

Tune in next month for another fun discussion. And if you have any real estate questions you’d like answered send me a text or email - 970-846-6435 or charlie@steamboatsmyhome.com

See you next time!

 

Steamboat Springs, CO Real Estate Report

Monday, August 14th, 2017

Steamboat Springs, CO Real Estate Report

Join us for a lively discussion about the local real estate market!

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Thank you to the following companies for providing some of the statistics discussed:

Land Title Guarantee Company (click for full June report)

Steamboat Springs Board of Realtors (click for full July Report)

S&P Core Logic Case-Shiller Home Prices Indices (click for latest figures)

Tune in next month for another fun discussion. And if you have any real estate questions you’d like answered send me a text or email - 970-846-6435 or charlie@steamboatsmyhome.com

See you next time!

 

It’s Official! The Steamboat Ski Area Has Sold!

Monday, July 31st, 2017

It’s Official! The Steamboat Ski Area Has Sold!

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According to a story released Monday by the Steamboat Today, the sale of the Steamboat Ski Area, as part of Intrawest Resort Holdings, is now final. The new joint venture of KSL Capital Partners and Henry Crown and Company (HCC) will combine Squaw Valley Ski Holdings, KSL, Intrawest and Mammoth Resorts into one company with a total of 12 mountain resorts.

The new entity’s resorts include ski areas in Colorado (Steamboat Ski Area and Winter Park), California (Squaw Valley, Alpine Meadows, Mammoth Mountain, Snow Summit, Bear Mountain and June Mountain), Canada (Blue Mountain in Ontario and Mont Tremblant in Quebec), Vermont (Stratton Mountain Resort) and West Virginia (Snowshow Mountain Resort).

Steamboat Springs, CO Real Estate Report

Tuesday, July 11th, 2017

Steamboat Springs, CO Real Estate Report

Routt County real estate saw strong activity in May:

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Here is a closer look at the 103 residential transactions that took place in May:

Residential Transaction Price Point Analysis May 2017

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of gross volume

Previous month % of gross volume    

Under $500K

 63

61%

46%

30%

20%

$500,001 – $1M

 24

23%

36%

27%

32%

$1M – $3M

 15

15%

19%

36%

40%

Over $3M

 1

1%

2%

7%

8%

This chart notes single family and multi family residential sales. Not shown here are the 8 timeshare transactions, 27 land, 6 commercial and 4 miscellaneous transactions for a total of 148 transactions. There were 4 bank sales in May 2017.

Steamboat Springs, CO Real Estate Report

Friday, June 2nd, 2017

Steamboat Springs, CO Real Estate Report

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Routt County real estate had a solid activity in April. Gross volume was $72.5M, +38.79% compared to last April, with YTD at +47.10%.  It’s important to note however, the transfer of a hangar at Yampa Valley Airport for $21.9M impacted the GV significantly. If we remove that transaction from our figures, April 2017 is mostly consistent with April 2016 Gross Volume.  There were a total of 98 transactions: -14.04% from April last year and +15% YTD.

Here is a closer look at the 64 residential transactions that took place in April:


Residential Transaction Price Point Analysis April 2017

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of gross volume

Previous month % of gross volume    

Under $500K

 27

46%

38%

20%

17%

$500,001 – $1M

 21

36%

46%

32%

43%

$1M – $3M

 11

19%

17%

40%

40%

Steamboat Springs, CO Real Estate Report

Friday, May 5th, 2017

Steamboat Springs, CO Real Estate Report

As many of you know there has been a lot of buzz around the recent acquisition of the Steamboat Ski Area by Aspen Skiing Company and KSL Partners. And now that the the dust has settled a little, many of you are probably wondering what this might mean for the real estate market here in Steamboat Springs. My thoughts on the subject are that this is a positive step for the future of the community. The esteemed new owners will almost certainly have a positive impact on improvements and development in and around the base area. Real estate, especially that which focuses on second home and holiday investors, should see some growth as buyer confidence rises. This may have been the nudge that on the fence buyers were looking for. However Steamboat Springs is a destination town and growth is largely limited by employment. The sale of the Steamboat Ski Area does not directly bring jobs to our valley. For this reason it is unlikely to have a direct impact on primary residences.

Steamboat Springs, CO Real Estate Report

Thursday, April 6th, 2017

Steamboat Springs, CO Real Estate Report

The snow is melting, the sun is shining and the local real estate market is starting to bloom!

Routt County Real Estate Market 

February 2017 was a great period for the local real estate market.  Gross volume was $46.6M, up 41.29% compared to last February, and there were 103 transactions, up by 63.49% from the same period last year. Year to date this puts 2017 gross volume up 31.74% and transactions up 29.29%. Let us have a look at what happened in February:

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As we enter Spring we have already seen a jump in the number of new listings to the market and we can expect that this will continue to rise. However based on the demand that we are seeing, the number of active listings may not actually increase as properties are not staying as long on the market as they were this time last year. Pending transactions as of April 6th is 189! The market is fairly balanced right now with the months supply just over 6 months (see what this means here). It is important to note that the above figures are just a snapshot and there is considerable variation depending on property type, location and price point.

Steamboat Springs Absorption Rate Shows Healthy Market

Thursday, March 16th, 2017

Steamboat Springs Absorption Rate Shows Healthy Market

Absorption rates are a strong indicator in determining the health of a Real Estate Market. For those of you who have heard us use this term but aren’t sure what it means: absorption rate is defined as how many months it would take to sell all the homes currently listed for sale, at the current rate that homes are selling.

A healthy real estate market is 5-7 months worth of inventory e.g. if there were 60 homes listed for sale and on average 10 homes sold per month, the absorption rate would be 6 months. An absorption rate much less that this would suggest a sellers market (demand exceeds supply, higher prices) while a rate much greater indicates a buyers market (surplus supply, greater negotiating power).

In Steamboat Springs the absorption rates have shown some fluctuation, but the latest figures indicate a healthy market overall:

A CO A SFH A TH

Steamboat Springs, CO Real Estate Report

Friday, March 3rd, 2017

Steamboat Springs, CO Real Estate Report

Before we dive in I’d like to share with you the successes of Sotheby’s International Realty. 2016 was an incredible year for the brand and it is exciting to be a part of it all. And most importantly, thank YOU for being part of my own personal success as well as that of Sotheby’s!

Routt County Real Estate Market 

We jumped right into 2017 with a strong start to the year.  Gross volume was $45.9M, up 23.45% compared to last January, and there were 78 transactions, up by 1.3% from the same period last year. Overall January volume was given a boost with the sale of a $9.79M ranch just outside of the Steamboat city limits.

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*Figures compliments of Land Title Guarantee Company
There is still plenty of demand and limited inventory for properties in the Routt County Market. Currently 147 pending sales are recorded and there were 126 new listings that came to the market in the past 30 days.