Pending Sales Increase in Steamboat Springs Real Estate

Two months ago, when the April tax refund credit expired, we saw a lull in pending properties. That was a natural occurrence. Real estate sales are somewhat predictable and cyclical. More people want to buy in spring and summer and less people want to buy real estate during the winter holidays. Although Steamboat Springs real estate picks up during the winter – for obvious reason; we’re Ski Town USA after all. But predicting real estate sales in a stagnate real estate markets, in a slowly recovering national economy it just about impossible.

So the months of June and July (2010) were again a bit slow for real estate in Steamboat Springs. Those 2 months saw a decrease in pending sales. In our MLS, there were about 60-70 pending properties during that time. Consumer confidence still is a leading motivator for buying real estate and consumer confidence remains low. That said, today we are looking at roughly 100 pending properties. Which is something we have not seen in a few months. There are many things that contributed this increase, but no one was the leading cause.
• Record low interest rates
• People wanting to buy before the school season
• Sellers not wanting to hold their property through the winter – lower prices = sale
• Some great bank owned properties at low prices = sales
Not enough change though to see a trend, but any sign of positive movement is good. I will continue to monitor the pending real estate numbers and update you soon.

Regards,

Charlie

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 site showing all foreclosed and all short sale listings in real time and updated every few minutes.