Steamboat Springs, CO Real Estate Report for November

January 1st, 2016

Steamboat Springs, CO Real Estate Report

 

Silver ornament, photo by Charlie Dresen

Let it snow, let it snow, let it snow. And that’s exactly what has been going on here in the ‘Boat. Record snow fall and record real estate numbers.

Routt County Real Estate Analysis

November saw a 55% increase in sales volume over last November.  And Year To Date we are 11% over 2014 in sales volume. So 2015 is shaping to be a very good year for real estate values.  Transactions were up as well seeing a 38% increase in the number of transactions over November 2014. Keeping with strong numbers, Year To Date transactions are up 6% from 2014.


Residential Transaction Price Point Analysis

 

Price Point

# of transactions

% of transactions

Previous month % of transactions

% of volume

Previous month % of volume

Under $500K

47

63%

59%

30%

21%

$500,001 – $1M

19

26%

29%

29%

34%

$1M – $3M

8

10%

11%

30%

33%

Over $3M

1

1%

1%

11%

12%

So who is buying Steamboat Springs real estate?

November Buyers

  • Local buyers = 36%
  • Front Range buyers = 14%
  • Out of State buyers = 50%
  • International buyers = 0%

Year to Date Buyers

  • Local buyers = 50%
  • Front Range buyers = 12%
  • Out of State buyers = 38%
  • International buyers = 0%

See November Routt County Real Estate numbers here

 

 National Real Estate Market

“Generally good economic conditions continue to support gains in home prices,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. “Among the positive factors are consumers’ expectations of low inflation and further economic growth as well as recent increases in residential construction including single family housing starts.

The S&P/Case-Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a slightly higher year-over-year gain with a 5.2% annual increase in October 2015 versus a 4.9% increase in September 2015. The 10-City Composite increased 5.1% in the year to October compared to 4.9% previously. The 20-City Composite’s year-over-year gain was 5.5% versus 5.4% reported in September. 

The S&P/Case-Shiller

The S&P/Case-Shiller

 

See the entire Case Shiller Home Price index for October here.

A full Year-to-date summary will be next month but I expect the year the finish strong a good number of pending sales looking to close soon.

Happy New Years,

Charlie

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