Steamboat Springs Market Report May 2013

Highest dollar volume in over 5 years for March, 2013.

Total sales for March: $55,795,100 (up 46%)

Year-to-date sale: $120,966,700 (up 17.23%)

See the entire Steamboat Springs Real Estate Market Stats.

Routt County:

Marabou Ranch sells remaining lots for over $11+ million dollars. The Marabou Ranch Subdivision , one of Colorado’s premiere fishing developments, sold last month to an investment group with ties to William Stolz and the Stolz Group out of Georgia.

Sales for March:

Dollar volume was up 46.5% the month of March compared to last year! However, that is a little misleading because the actual number of transactions was 28% less than the same time last year. We just had  two, high-end, five million dollar sales which threw our numbers off a little. Three sales over 3 million dollars grabbed 46% of the dollar volume of sales.

As usual, excluding timeshares, the mountain area had the highest number of sales, almost 20% of the total, but only 12% of the total dollar volume. Lower priced condos and townhomes are still hot. Year-to-date, the mountain area leads the pack with over 28% of the sales with the median sales price being $320,000.

The following graph gives you the year to date number of transactions and dollar volume by area:

 Highest priced single-family home sale in March:

$5.9 million on CR #64.

 Highest price per square foot  in March:

$616.20 in the Priest Creek area.

 The top 3 lenders for Routt County:

Wells Fargo, Chase, and Cornerstone

Buyer Profile Year to Date:

50%  Out-of-state
39%  Local
11% Front range
1% International

Nationally

Case-Shiller, which tracks the health of our housing market, reported April 30th,  that the February home prices continued to show a “solid increase” across the nation. Phoenix has seen a year-over-year return of +23% ! The 20-city Composite index posted an annual Home Price increase of 9.3% which is the largest seen in almost seven years.

View Case Shiller Report

Usually the housing market is a little slow in the winter; however, December, January, and February prices actually went up.

Inventory is still low, the housing market is improving nationwide, interest rates are low, and spring is in the air!

Charlie