Steamboat Springs Real Estate Report

May 30th, 2013

Steamboat Springs Real Estate Market Report

Routt County

Once Again, many indicators continue to show improvements within the Steamboat real estate market. Pending properties continue to be strong. Sales are increasing each month. And inventory remains low but is creeping up as we head into summer.

Date                        Pending              Sold 30 days        Inventory

4/1/13

132

38

1574

5/1/13

135

59

1562

Today

131

60

1610

Demand is high for single family homes and townhomes within and Downtown, Fish Creek and the Mountain areas. If priced right, properties are seeing multiple offers at times. Lower priced condos within the same area are also selling well.

Prices: As demand increases and properties sell, we’re seeing an increase in prices. Some properties within the hot price range and area have already seen decent increases in values. Like many areas across the country, I could see values and prices rise 10-20% over the year. This is great for home owners and those looking to refinance. For many who were underwater on their mortgage might see relief soon rising values.

The latest numbers were just released for the housing statistics in Routt County. Compared to last April, gross dollar volume is up 34.32% in Routt County.  So far for 2013, gross dollar volume is up 21.22% compared to the same period last year.

Click here to see full Steamboat Springs Market Report

 

Gross Dollar Volume Routt County
Gross Dollar Volume Routt County

Transactions

The Mountain area continues to lead with the highest number of transactions at 35, which is 32.71% of all sales.

Price

Continuing our trend, 65% of all transactions were for sales under $500,00

Highest Priced home in April

$3,100,000

Highest Price Per Square Foot

$814.79 at One Steamboat Place Condominium

 Nationally

S&P/Case-Shiller, which tracks the health of the national housing market, reports on three indices. Two are monthly statistics gathered from major metropolitan areas: the 10-City Composite and the 20-City Composite. And one reports on quarterly data based on the U.S. census divisions, The National Home Price Index.

The latest S&P/Case-Shiller National Home Price Index, posted a 10.2% increase of home prices in March compared to March of 2012. And 1.2% increase from the previous quarter.

Case Shiller March

Case Shiller March

Monthly, the 10- and 20- Composite Indices both saw an increase of 1.4% in March.

All the city indices have had positive gains for the last 3 months with cities like Phoenix and Las Vegas having over 20% increases from last year. In addition, all three indices reported their highest annual increases since 2006.

The chart below shows the average home price from the 10- and 20- Composites to be back to late 2003 home prices.

Case Shiller Home Prices

Case Shiller Home Prices

Click here to see the full Case-Shiller market report

Please contact me if you would like to discuss the Steamboat Springs housing market. I’m passionate about Steamboat and real estate!

Regards,

Charlie

Charlie Dresen
Real Estate Associate Broker |Prudential
Local Knowledge | Global Exposure| Defining Service
970-846-6435 | SteamboatsMyHome.com
610 Market Place Plaza, Steamboat Springs, CO 80487

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