Steamboat Springs Real Estate Report
Remember last month when I said that factors like increased consumer confidence and vacation-home sales rising were good signs for Steamboat’s real estate? I wasn’t kidding. Take a look at the latest Routt County real estate synopsis below.
Local Steamboat Springs Market
Real estate transactions in Steamboat Springs, Colorado for May 2014 were the highest gross dollar volume they have been all year and higher than any month last year, with $56.4M in sales. That’s +42.94% over last May! There were 3 transactions over $3M which helped.
> 17% of transaction volume was under $500,000 (37% in April)
> 46% of transaction volume was between $500,001 – $1,000,000 (24% in April)
> 38% of transaction volume was over $1M (40% in April)
> 2 Bank sales
> YTD transactions are up +7.13%
> YTD dollar volume down -4.29%
National Real Estate Market
The S&P Case-Shiller Home Price Index for April 2014 reported annual gains of 10.8%, quite a bit lower than we saw the previous month. Even with the weakened annual gains, home prices continue to rise month-to-month at a slower rate.
In April, all cities saw prices increase with twelve cities reporting higher returns than last month. Boston gained the most with an increase of 2.9%, its highest month-over-month gain. San Francisco and Seattle trailed at +2.3%. At the bottom of the list, New York gained only 0.1%. Dallas and Denver continue to set new peaks while Detroit remains the only city below its January 2000 value.
Existing home sales are higher than they were last May and new home sales are picking up considerably compared to last year.
Here’s a great video regarding real estate from Chris Mayer at Columbia Business School.
It’s great to have a healthy real estate market. And things are good . . . for the most part. But if you were to ask me how’s the real estate market in Steamboat Springs, I’d have many different answers based on the specific property you might be asking about. See a breakdown on Steamboat Real Estate Value here.
If you would like to learn more about Steamboat’s real estate market and the lifestyle that we enjoy here, please contact me or follow me on Facebook, Google+, YouTube, Pinterest and Twitter. I am passionate about this community and real estate, let me show you why.
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Real Estate Associate Broker |Sotheby’s
Local Knowledge | Global Exposure| Defining Service
970-846-6435 | SteamboatsMyHome.com