Steamboat Springs Real Estate Market Report
The Steamboat Real Estate market is recovering.
Some sectors are still asleep, but other areas are wide awake. The overall number are rather mixed upon a quick glance, but digging deeper, things are getting better.
May was up slightly in gross dollar volume over April but down significantly over last year. Transactions are lagging from last month and last year. This is largely do to the fact that we had 63 fractional sales in May 2011 and only 16 in May 2012. Because so many transactions were fractional last year, the fact that dollar volume was similar, this mean that prices just might be going up.
And looking at average price per foot, we see many areas are trending up as well.
In 2011, the average sales price per foot in Old Town was $285. Today, that average is up to $314 per foot. So there are some areas around Steamboat seeing prices going up.
With dollar volume being higher in May ($31,562,700) over April ($31,406,700) with fewer transactions, this is a great sign that prices are in fact getting stronger.
Highest Priced Sale for May 2012:
5/3/2012, $3,100,000, Casey Pond Subdivision Parcel A, 2855 Hoot Owl Trail. This parcel is sold for development purposes. This parcel was purchased by the Colorado Seniors at Casey’s Pond. Land size is 5.364 acres which equated to $577,927 per acre.
Highest Price per Square Foot for May 2012:
5/15/2012, $1,350,000, Park Place Subdivision, Lot 3, 71 Park Place. This 5 bedroom, 4.5 bath with 2,944 square feet on .15 acre of Land. Price per Square Foot is $458.56. This home is located in Steamboat Town Area.
Wondering who owns those second homes in Steamboat Springs or where they are from? Well, Florida at 463, Texas at 411, Illinois at 352, California at 338 and Steamboat Second home owners by state.