Steamboat Springs, CO Real Estate Report

February 29th, 2016

Steamboat Springs, CO Real Estate Report

With the warmer weather of late, it feels like its almost time to say goodbye to another winter in Steamboat Springs. But hold onto your hats, we aren’t there yet! There is still plenty of snow and lots of adventures to be had before the melt, so enjoy it while it lasts!

Spring is in the air

Spring is in the air!

Routt County Real Estate Analysis

It has been a strong start for Routt County real estate in 2016. Gross sales totaled $37.2M, up +12.36% compared to last January.  This comprised 77 transactions, an increase of +8.45% compared to last January. Fun facts: almost two thirds of buyers were local to the community and 37% of sales were cash transactions.

 


Residential Transaction Price Point Analysis January 2016

 

Price Point

# of transactions

% of transactions

% of gross volume

% of transactions 2015

% of gross volume     2015

Under $500K

28

63%

29%

65%

34%

$500,001 – $1M

13

29%

35%

25%

29%

$1M – $3M

3

6%

18%

9%

28%

Over $3M

1

2%

18%

1%

9%

 

View full January 2016 Routt County market statistics here

And if you missed it, check out my recent blog on absorption rates and what this information can tell us on the real estate market and what it means for buyers and sellers.

National Real Estate Market

“While home prices continue to rise, the pace is slowing a bit,” says David M. Blitzer, Managing Director and Chairman of the Index Committee at S&P Dow Jones Indices. The 20-city composite figures in the recently released December 2015 S&P Case-Shiller Home Price Indexshow year over year gains of 5.7% in 2015. However month over month figures suggest that the pace has recently slowed in many markets, including several of the Eastern cities, notably Washington, Boston, and New York. Denver  on the other hand, continues to be one of the hotter markets in the country, showing 10.2% gains in home value over the past 12 months.

Some good news for both buyers and sellers is that mortgage rates have continued to fall, making purchasing a home more appealing and accessible for those who need financing. Forbes recently released this article on mortgage rates.

 

S&P/Case-Shiller Home Price Indices

S&P/Case-Shiller Home Price Indices

 

Regards,

Charlie

Want to learn more about me?

Charlie Dresen

Real Estate Associate Broker |Sotheby’s

Change Your Experience

970-846-6435 | SteamboatsMyHome.com

Charlie@SteamboatsMyHome.com

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