Posts Tagged ‘buyers market’

When Is The Right Time To Sell?

Friday, February 26th, 2016

When is the right time to sell?

Well the answer to that will depend on your personal and financial situations, but if you have been hedging whether to list or not, here’s something to consider: ABSORPTION RATE.

In the real estate world, the absorption rate is like a barometer for the health of the market. It is a calculation based on current listings and average sales per month. For example, in the last 4 months a total of 8 homes sold – an average of 2 homes per month. Currently listed for sale in that same market is 25 homes. So based on current averages it will take 12.5 months to sell the existing inventory. Now that doesn’t factor in new listings that may arise, but it is a snapshot of the market at this particular time. And more importantly, by monitoring the absorption rate of the market we can get a picture of how the market is trending.

Steamboat Springs Real Estate Report

Thursday, August 13th, 2015

Steamboat Springs Real Estate Report

 

agriculture, routt county, steamboat springs, western heritage, hay field, mountains, hay

Hay field in Steamboat Springs, CO

I love the ever-changing scenery of Steamboat’s agricultural country this time of year. All the moisture we got in the spring made for beautiful green fields which are now many bales of hay.

For questions about the Steamboat lifestyle and our real estate, please ask me. I am passionate about my community and real estate.

 

Search all Steamboat homes, townhomes and condos by clicking this link.

 

Routt County Real Estate Analysis

 

June was a great month for Routt County real estate with gross sales of $61.7M. That is up +67.5% compared to June 2014 and up +3.75% year-to-date.  144 transactions were closed in June which is the most transactions closed in 1 month in nearly 5 years, up +28.6% compared to the previous year’s month of June.

 


Residential Transaction Price Point Analysis

 

Steamboat Springs Real Estate Report

Thursday, July 16th, 2015

Steamboat Springs Real Estate Report

 

rooftop deck, outdoor living, crawford avenue, old town, steamboat springs real estate, views, above old town

Colorado summers are meant to be spent outdoors.

Summer in The ‘Boat is pretty special. I hope you have been out and about this summer soaking up the sun, reeling in the fish, floating in the river and lounging on the deck.

For questions about the Steamboat lifestyle and our real estate, please ask me. I am passionate about my community and real estate.

 

Search all Steamboat homes, townhomes and condos by clicking this link.

 

Routt County Real Estate Analysis

 

While May was the best month for gross sales of Routt County real estate thus far in 2015 at $47.6M, that is down -15.67% compared to May 2014.  103 transactions were closed in May down -15.57% compared to the previous year’s month of May.

 

Price Point

% of transactions

Previous month % of transactions

% of volume

Previous month % of volume

Steamboat Springs Real Estate Report

Friday, June 19th, 2015

Steamboat Springs Real Estate Report

 

Lupine in bloom in Steamboat Springs

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 all Steamboat homes, townhomes and condos by clicking this link.

Routt County Real Estate Analysis

 

April was a decent month for Routt County real estate transactions with $38.9M in gross sales and 112 transactions. Compared to April 2014, this was up 1.7% in total gross volume and down 13% in transactions.

> 32% of April transaction volume was under $500,000 (74% in March)
> 19% of April transaction volume was between $500,001 – $1,000,000 (16% in March)
> 50% of April transaction volume was over $1M – $3M (10% in March)
>  0% of April transaction volume was over $3M (0% in March)
 4 bank sales
> 58% of transactions were financed / 42% were cash

April 2015 Routt County Real Estate Analysis

 

Steamboat Springs Real Estate Report

Thursday, April 30th, 2015

A Real Estate Slow Down – But don’t freak out!

The absorption rate is a strong indicator of the health of the real estate market. It’s measured in month of inventory and how long it takes for real estate to sell.

A healthy real estate market has 5-7 months worth of inventory.  But Steamboat Springs has such diverse properties that we have to look closer. I broke it down by price-points and Single Family | Townhome | Condo.  This is only properties within the city limits. Yes, we’re seeing a bit of a slow down. But it’s also mud season and a slow time for real estate – so don’t read too much into this.

Single Family Homes

Single Family Homes

 

Townhomes

Townhomes

Condo

Condo

Steamboat Springs Real Estate Report

Tuesday, March 31st, 2015

Steamboat Real Estate is often compared with other resort communities. Have you ever wondered how Steamboat’s prices compare to other resort towns? Wonder no more. Here is a break down of resorts and their median price sold for homes, condos and land. In the grand scheme of things, Steamboat Springs is quite affordable.
Steamboat Springs, CO compared to other resort markets

Steamboat Springs, CO compared to other resort markets

 

Local Steamboat Springs Market

It’s been a little slow for fresh snow and real estate this winter and the numbers reflect this.

February Real Estate Stats

February Real Estate Stats

 February was a slow month for Routt County real estate transactions with $16.2M in gross sales and 49 transactions.  This was down - 58.2% in total gross volume and down – 50% in transactions compared to February 2013.

> 40% of February transaction volume was under $500,000 (68% in January)
> 38% of February transaction volume was between $500,001 – $1,000,000 (21% in January)
> 22% of February transaction volume was over $1M – $3M (12% in January)
>  0% of February transaction volume was over $3M (0% in January)
 4 bank sales
> 48% of transactions were financed / 52% were cash

Steamboat Springs Year-End Real Estate Report

Monday, February 2nd, 2015

Steamboat Springs Year-End Real Estate Report

alpenglow, steamboat springs, mt werner, steamboat ski area, downtown, old town steamboat, ski slopes, snowy mountain

Well, 2014 is a wrap and the real estate market here in Steamboat Springs, CO continues to improve.  I feel 2015 will be another good year with strong number in transactions. I don’t feel we’re going to see significant appreciation and rising prices. Slow and steady is good for real estate.

 

Local Steamboat Springs Market

December was a great month for Routt County real estate transactions with $58.17M in gross sales and 121 transactions.  This was up +69.29% in total gross volume with  +10% more transactions compared to December 2013. A great way to end the year.

Total gross dollar volume for 2014 was $598+M with 1,360 transactions. This was the best year we have seen since 2007. Year-to-date gross dollar volume is up +18.79% and number of transactions are up +6.42% for the year.

Steamboat Springs Real Estate Report

Monday, January 5th, 2015

Steamboat Springs Real Estate Report

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. As you see, for most of our market, we are seeing good improvements.  Keep in mind, 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.”

Single Family Absorption Rate

Single Family Absorption Rate

Townhome Absorption Rate

Townhome Absorption Rate

Condo Absorption Rate

Condo Absorption Rate

 

 Local Steamboat Springs Market

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

Steamboat Springs Real Estate Report

Thursday, October 30th, 2014

Steamboat Springs Real Estate Report

For starters, 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

Local Steamboat Springs 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%. Year-to-date gross dollar volume is up +11.07% and number of transactions are up +7.51% for the year.

Steamboat Springs Real Estate Report

Tuesday, September 30th, 2014

Steamboat Springs Real Estate Report

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 and when to sell and we begin to trust the ebbs and flows of the market.