Posts Tagged ‘Market Report’

STEAMBOAT SPRINGS, CO MARKET REPORT JAN 2018

Monday, January 8th, 2018

Steamboat Springs, CO Market Report for January 2018

Get the latest news and find out what is hot in the local market today!

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

Land Title Guarantee Company (click for full November report)

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

Steamboat Springs Board of Realtors (click for November roundup)

Follow us at SteamboatsMyHome YouTube for a variety of fun video blogs. 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!

Charlie

 

STEAMBOAT SPRINGS, CO MARKET REPORT DECEMBER 2017

Thursday, December 7th, 2017

Steamboat Springs, CO Market Report for December 2017

Welcome to our monthly Real Estate video market report!

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Talking Home Affordability. You hear that word a lot these days, but what exactly does it mean? Well in a nutshell, it means how much house can you afford. And this varies for everyone.

Some of the key factors in calculating affordability are:

  • - monthly income
  • - funds to cover your down payment and closing costs
  • - monthly expenses
  • - Existing debt
  • - Credit profile
  • - Ongoing costs associated with property in addition to the home price eg. HOA dues, etc.

Housing affordability is an increasing challenge throughout the country, not surprising when you see figures such as 6.2% average year over year home gains in September*. But how does this look in our little mountain town? The Housing Affordability Index  calculated by the Steamboat Springs Board of Realtors indicates that home affordability for YTD 2017 is quite a bit harder than the same time last year. A number of factors go into this calculation and in all honesty I don’t have the equation, but it is based on interest rates, median sales price and average income by county.

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

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

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, CO Real Estate Report

Thursday, February 2nd, 2017

Steamboat Springs, Year End 2016 – CO Real Estate Report

Year end figures for 2016 are here! Let’s review:

Routt County Real Estate Market 

We had projected, based on high “pending” sales during December and dollar volume that 2016 would exceed 2015. But well fell just short with volume less than 1% below 2015 numbers. December was a reasonable month but down from the same time last year with 131 Transactions and $79.9M in Gross Volume.  Compared to last December, Gross Volume was off by -19.45%, with the YTD. at -0.75%.  Transactions were also off by -7.75% compared to last December, with the YTD. at +5.63%.

 

I do however, predict the January and February numbers to increase because of the high amount of pending sales we have today.

 

*Figures compliments of Land Title Guarantee Company

*Figures compliments of Land Title Guarantee Company

 

Here is a quick snapshot of 2016 year end values for Routt County sales:

Steamboat Springs, CO Real Estate Report

Sunday, January 1st, 2017

Steamboat Springs, CO Real Estate Report

As 2017 begins and we reflect on the year that was, we can say that 2016 was a good year for real estate in Routt County. However the November figures were a little unexpected as you’ll see below.

Routt County Real Estate Market 

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The Steamboat Springs Board of Realtors November 2016 Monthly Report provides us with a great snapshot of the Steamboat Springs residential market. Some key market figures for both single family homes (SF) and condo / townhomes (C/T):

- YTD new listings +9.3% SF, +2.4 C/T

- YTD pending sales +12.5 SF, +9.2 C/T

- YTD sold +14.2 SF, +8.7 C/T

- YTD median sales price +13.1 SF, +3.1 C/T

- YTD active listings -6.3 SF, -20.5 C/T

New listings to the market are up yet active listings are down. This coupled with the a significant drop in YTD days on market shows just how tight housing inventory is in Routt County.

Steamboat Springs, CO Real Estate Report

Thursday, November 3rd, 2016

Steamboat Springs, CO Real Estate Report

How’s the market Charlie?  Well, I’d have to say the majority of the real estate market is very good. Running the current absorption rate, we see almost every segment of the market is very good with a couple exceptions. Medium to high-end condo activity remains slow with limited buyers and high inventory. Other than that, its trending to be a seller’s market with prices on the rise.

 

Steamboat Springs Absorption Rate

Steamboat Springs Absorption Rate

Steamboat Absorption Rate Nov 2016

Routt County Real Estate Market 

Third quarter figures are out with a great close to September 2016, with 176 Transactions and $80.5M in Gross Volume. Year over year figures show September Gross Volume up +36.55% and transactions up +32.33%!

There was particularly strong sales of upper end properties in September – 19 properties sold for over $1M, including a ranch listing just outside of town for $7M. In August 2016 there were 11 properties sold for over $1M.

Steamboat Springs, CO Real Estate Report

Tuesday, October 4th, 2016

Steamboat Springs, CO Real Estate Report

Snow has fallen and the mountains are dusted with a layer of white. The contrast in colors is simply spectacular and serves as a great reminder as to why we love to live here!

 

Image by Larry Pierce, Courtesy of Steamboat Pilot & Today

Image by Larry Pierce, Courtesy of Steamboat Pilot & Today

Routt County Real Estate Market 

August 2016 was an extremely strong month with $68.4M in Gross Volume and 161 Transactions. Gross Volume was up by +9.59% from August 2015, with the YTD. at +9.36%.  August transactions were +7.33% compared to the same month last year.

Here is a snapshot of the current market price trends:

Average Sales Price:
Single Family +1%
Multifamily -2%
Vacant Land -43%

Median Sales Price:
Single Family +13%
Multi Family +4%
Vacant Land -34%

Average Price Per Square Foot
Single Family +10%
Multi Family +2%

 


Residential Transaction Price Point Analysis August 2016

Steamboat Springs, CO Real Estate Report

Friday, September 2nd, 2016

Steamboat Springs, CO Real Estate Report

Summer 2016 is official coming to a close. The new school year has started, the weather has cooled, and the leaves have begun to turn. But if you are looking for one last hurrah check out the weekend of Labor Day festivities happening in and around South Routt beginning tonight. For more than a century Oak Creek has hosted this family friendly and mostly free weekend, see the full list of events here.

 

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It is also time for the 11th Annual Steamboat Sotheby’s International Realty Labor Day Home Tour! If you are in town and are interested in doing any or all of the self guided tour there are 28 properties to choose from, including one of my own listings 1076 Steamboat Blvd. Come by and say hi between 1-5PM on Saturday Sept 3rd!