Almost any real estate you buy in Steamboat Springs will be a great investment; from a small ski condo to a large single-family home, both short-term and long-term, the value will go up.
Starting in early summer 2020, Steamboat real estate along with many other smaller more intimate markets across the country have been very active. In Steamboat Springs, some properties have appreciated 10-15% in just 6 months. These extraordinarily large price increases equal a great return on investment. With record low inventory for sale and a high number of buyers this imbalance causes prices to increase – rapidly. The harder questions are will this trend slow down? Will prices stabilize or go down? Here’s three thing that are not changing:
- Steamboat Springs will always be a small town and an appealing place to live
- COVID has transformed the way we live and work. And while yes, there will be a time we won’t wear mask, I think “location neutral” employment is here to stay
- We have changed the way we think about work, family balance and happiness
It’s because of this, I’m not sure the current real estate trends will end. It might slow down but I’m not certain we’ll ever go back to the way it was. If one could live and work remotely from anywhere, why wouldn’t you choose a location that’s not only beautiful, but offers recreation right out your door.
Real estate prices in Steamboat Springs are on the rise. Every day I study the MLS and each time I’m somewhat discouraged. Frustrated at the lack of new listings. Shocked at the prices some properties are selling for. Astonished at the number of showings and multiple offers on some properties. And discouraged for many buyers that are so wanting to make Steamboat a part of their life but are not finding their “perfect home” or rapidly being priced out of the Steamboat real estate market.
I wish I had a crystal ball. I wish I knew what the future will look like for real estate in Steamboat. I can say almost definitively that when I look back a year from now, the prices properties are selling for TODAY, which I feel might be high, will likely look low compared to what prices will be in the future.
I’m always ready to talk real estate, Steamboat Springs, or any other question you might have. Give me a call.