Posts Tagged ‘Steamboat home prices’

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!

Screen Shot 2017-12-07 at 11.21.22 AM

 

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 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, September 4th, 2014

Steamboat Springs Real Estate Report

Real estate transactions, both locally and national, continue to be steady thanks in part to low interest rates and stronger job creation. I certainly helped my fair share of Routt County residents and second-home owners buy and sell properties this summer (17 transactions so far).  It’s always fun assisting folks in finding the right home for them and helping those who are ready to move on from their existing dwelling. Thanks to my clients past and present for trusting me with this important task.

Pending sales UP / interest rates DOWN

Pending sales UP / interest rates DOWN

Local Steamboat Springs Market

Routt County real estate transactions for the month of July were out-of-sight bringing in the best gross dollar volume yet this year with over $61M. This is +34.28% more than July 2013. Granted, there was a $9M commercial sale which certainly helps numbers but most of the 109 transactions were residential sales ranging from $28,000 to $3.1M.

Case Shiller Report: Real Estate Home Prices are Flat

Thursday, October 28th, 2010

Case – Shiller report for August, 2010 reveal little changes for home values. Real Estate values are up slightly but remain relatively flat. Bringing it a little closer to Steamboat Springs, Colorado, the Denver home values were down 1.2%. Read more on the Denver Real Estate Home values click here.

Here are the 20 cities that make up the Case-Shiller report.

For more on this topic or questions regarding real estate in Steamboat Springs, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com. I will answer your post or email promptly with candid and informed answers. Click here to view all properties in Steamboat Springs in “real time” — This is one of the few real estate sites showing all foreclosed and all short sale listings in real time and updated every few minutes.