October Routt County Real Estate Not Totally Stuck in the Mud

November 14th, 2011

October was only a little stuck in the mud season muck, but that’s not totally unexpected in the bi-annual shoulder season. There were some encouraging sales as some folks do like to get settled in to a new home before the winter weather sets in. Which is about now.

Steamboat Ski Area
Steamboat Ski Area

With 99 transactions logged in the 10th month of the year, October ranked 7th in transactions and 8th in total dollar volume with just over $31.6M in sales. Similar to September, dollar volume was down due to the large percentage of residential homes sold under $200,000 (35%) as well as 68% (more than two out of 3 homes) selling for $500,000 or less during the month of October.

The bright spots while analyzing this report, are that the snow making machines are going full blast on Steamboat’s ski mountain and opening day is less than 2 weeks away…which means that soon Steamboat Springs will be full of skiers and winter loving vacationers.  Mud season always comes and mud season always goes…ushering in either a fabulous winter or a spectacular summer. “Fabulous” is on the horizon for sure. Mountain base improvements, revived financial backing at One Steamboat Place & Trailhead Lodge, new restaurant openings in Wildhorse Marketplace and a total remodel of The Cabin in The Steamboat Grand are a few of the pleasant surprises awaiting visitors and available year-round for residents.

Trailhead at Wildhorse
Trailhead at Wildhorse

Highlights from October Routt County Real Estate Report

* 8 transactions over $1M, three of these were over $2M and one was over $3M. There have only been four total $3M+ sales all year.

* Bank sales were significantly down with 6 in October versus 18 in September and 17 in August.

* The Mountain Area ranked #1 in $ Sales Volume as well as the number of Sales Transactions (net of time-share/interval sales) with just under $12M in Mountain Area sales comprising 27 total transactions.

The highest priced sale and the highest price per square foot sale for October 2011 were as follows:

Highest Priced Sale for October 2011

10/27/2011 $3,375,000 Agate Creek Preserve Subdivision Lot 1 aka 35375 Humble Road – 5 Bedroom 5.5 Bath YOC 2004 with 8,137 SF Living Area.  7.57 AC Land Area.  PPSF $414.77.

Highest PPSF for October 2011:

10/6/2011 $2,030,000 OSP Condo @ Après Ski Way Condo Unit R-418 aka 2250 Après Ski Way – 4 Bedroom 4 Bath with 2,420 SF Living Area.  PPSF is $838.84.  This is a new construction sale that is located in the Steamboat Mountain Area.

—For more information on buying real estate or questions regarding Steamboat Springs real estate or renting a home in Steamboat Springs, Colorado, feel free to call Charlie at 970-846-6435 or write me an email at: charlie@steamboatsmyhome.com

Thanks,

Charlie

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