Has Steamboat Springs Real Estate Seen the Bottom?

April 6th, 2011

Has Steamboat Springs Real Estate Seen the Bottom?

See the list of single family homes in Steamboat Springs over the last 8 months.
The following list is of property activity over the last 8 months. These are single family homes in Steamboat Springs from the 1 – 3 million dollar range.

3 points I want to make:

1. Over the last 3 months there’s been a noticeable increase in this area of Steamboat Springs Real Estate.
2. This list highlights a huge range for price per square foot on what sellers are asking and what buyers have been paying over the last 8 months.
a. Sold property range $228 – $479 with the average of $338 per foot.
b. Active property range $266 – $492 with the average at $372 per foot.
c. Pending property range $338 – $430 with and average at $384

3. Like I said in item 1, there’s been an increase of activity over the last few months. And 4 of the 5 properties in this list that sold in the ranges of $200’s per foot sold 3-6 months ago. Before this current uptick in the market. (These are what we might consider the best deals of the year). We’ll know soon enough if that was the bottom for this range of homes in Steamboat Springs. But it’s worth pointing out.

Everyone want to get the best deal they can. But as you can see by the current sales prices, price per square foot does not determine values for there are several transactions that show people are willing to pay in the upper $300’s and $400’s on the square foot basis in today’s market. So don’t think you have to get the screaming deal to see appreciation on the investment. What sells for a higher per foot basis today will sell for a higher per foot basis in 5 year too.

—For more on this topic or questions regarding Steamboat Springs real estate in Steamboat Springs, Colorado, 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.

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