Steamboat Springs Market Report & Year-End Real Estate Stats

February 24th, 2011

Steamboat Springs Market Report & Year-End Real Estate Stats

Click here to view the entire market report and year-end stats.

2010 is in the books and what a year it was. We started the year with more questions than answers. But many questions were answered.

  • Buyers are back. Transactions are up 170% from 2009. 24% increase in home sales for Fish Creek and Downtown. 40% increase for Mt. area.
  • Prices are down. Total listings are down 3% but gross listing volume is down 11%. Thus, sellers have been lowering prices. Total volume up 116% from 2009.
  • Multiple offers are back. It’s mostly bank owned homes, short-sales and some well priced properties, but with buyers looking for deal, we are seeing multiple offers at times.
  • The bottom is here . . . maybe. I can say that many sectors of the Steamboat Springs market looks as though we’ve reached the bottom. But that’s not the case for other areas.
  • The outlook is a flat market. In short, prices are down, buyers are buying, but inventory remain constant and foreclosures still mount. So prices will seemingly stay flat for a while.

Summary for the month of December and 2010:

  • Total Sales Volume for the month of December was $54,261,900 making this the highest volume sold per month for 2010.
  • Total Units sold for the month of December were 79 down from the 156 compared to December 2009.
  • The total Sales Volume for all of 2010 was $512,100,114 a 16% increase from the 2009 total.
  • The Units sold for all of 2010 was 1,817 a 71% increase from the 2009 total.
  • Total Fractional sales sold for 2010 were 1,123 compared to 516 for 2009.
  • Residential Improved Units sold for 2010 were 485 compared to 374 from 2009.
  • For 2010 the Mountain Area had the highest Volume sold with $218,226,500, then Fractional with $94,356,800 and Downtown saw a volume of $40,907,300.
  • Sales of Residential Units sold of 1 million dollars and above increased from 74 for 2009 to 104 for 2010.

Sales to report over $2.5 million

  • 12/9/2010 $3,490,000 More’s Corner Subd Lot 2 aka 2067 Indian Summer Drive – 5 Bedroom 5.5 Bath YOC 2006 with 10,431 SF Living Area on .33 AC Land. This sale is located in the Steamboat Mountain Area.
  • 12/17/2010 $3,200,000 Lake Catamount Subd Exemption Lot 2 – aka 30355 Harrison Trail – 4 Bedroom 6.5 Bath YOC 2004 with 6,428 SF Living Area on 59.34 AC Land. This sale is located in Catamount.
  • 12/21/2010 $3,000,000 Graystone on the Green Subdivision lots 1 through 17 inclusive – aka 1305 Clubhouse Circle – 17 Vacant Residential Building Sites totaling: 7.188 AC Land. This Sale is also a Bank Sale with Vectra Bank as the Seller. This property is located in the Steamboat Mountain Area and is categorized as a Development Sale.
  • 12/29/2010 $2,900,000 Marabou Subd #2 Homstead Lot B9 – aka 43441 Elk Run – 4 Bedroom 3 Bath YOC 1993 with 3,296 SF Living Area on 6.73 AC Land. This sale is located in the Elk River Area.

There were 14 Bank Sales in December, bringing the total for 2010 to 83.
Click here to view the entire market report and year-end stats.

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

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