Real Estate Market Report for June, 2013

Routt County

June was a good month, the second best of 2013. But compared to last June, this month was down by -28.99% from June 2012.  The Year to Date gross volume picture is a little brighter  up +7.57% over last year’s gross at the end of the second quarter.  On a transaction basis, June was only slightly down by -0.92%, while the Year to Date is up +14.26%.

Looking at the numbers below, everything is up. Sales are up. Sold properties are up. But so is the inventory. Thus, we might be seeing a steadying of prices.

Three month snapshot

Date                        Pending              Sold 30 days        Inventory

Prices: All real estate is local and so too are prices. Some areas are seeing more activity than others. But overall, prices are going up. Over the last year, some values have gone up as much as 20%. Although sales continue to be strong in Steamboat Springs, the inventory is climbing and thus, prices are not increasing as fast as they were 6 months ago. So prices are leveling off and we’re seeing more stability in the Steamboat real estate market.

This slow down is also being felt across the country. Click here to view a CNN article on the slow down.

Click here to see full Steamboat Springs Market Report

   Nationally

CNN reports about talks of a slowing down of home prices in the coming months.

S&P Case-Shiller report for May, which tracks the health of the national housing market, reports that prices and value are up. 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, showed that all 20 cities were up in home price.  It also posted a 12.2% increase of home prices in May 2013 compared to May of 2012.

Monthly, the 10- and 20- Composite Indices both saw an increase of 2.6% in May.

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