Steamboat Real Estate is often compared with other resort communities. Have you ever wondered how Steamboat’s prices compare to other resort towns? Wonder no more. Here is a break down of resorts and their median price sold for homes, condos and land. In the grand scheme of things, Steamboat Springs is quite affordable.
Steamboat Springs, CO compared to other resort markets
Steamboat Springs, CO compared to other resort markets

 

Local Steamboat Springs Market

It’s been a little slow for fresh snow and real estate this winter and the numbers reflect this.

February Real Estate Stats
February Real Estate Stats

 February was a slow month for Routt County real estate transactions with $16.2M in gross sales and 49 transactions.  This was down – 58.2% in total gross volume and down – 50% in transactions compared to February 2013.

> 40% of February transaction volume was under $500,000 (68% in January)
> 38% of February transaction volume was between $500,001 – $1,000,000 (21% in January)
> 22% of February transaction volume was over $1M – $3M (12% in January)
>  0% of February transaction volume was over $3M (0% in January)
>  4 bank sales
> 48% of transactions were financed / 52% were cash

But showings remain strong and pending sales are increasing just like last year.

Pending sales is Steamboat
Pending sales is Steamboat

February 2015 Steamboat Springs/Routt County Real Estate Analysis by Land Title

 

National Real Estate Market

The S&P Case-Shiller Home Price Index for January 2015 reported continued slowdown of home price increases across the country, although nine cities saw price increases. The national index, which covers all 9 census divisions, recorded a +4.5% annual gain in January 2015 while the 10-City Composite and 20-City Composites recorded a +4.4% and +4.6% increase over January 2014.

Denver and Miami reported the highest year-over-year gains, with price increases by 8.4% and 8.3%, respectively, over the last 12 months, while the National Index declined for the fifth consecutive month, reporting a -0.1% change.

“The combination of low interest rates and strong consumer confidence based on solid job growth, cheap oil and low inflation continue to support further increases in home prices” says David M. Blitzer, Managing Director and Chairman of the Index Committee for S&P Dow Jones Indices. “Regional patterns in recent months continue: strength in the west and southwest paced by Denver and Dallas with results ahead of the national index in the California cities, the Pacific Northwest and Las Vegas. The northeast and Midwest are mostly weaker than the national index. ” Blitzer goes on to say, “Despite price gains, the housing market faces some difficulties. Home prices are rising roughly twice as fast as wages, putting pressure on potential homebuyers and heightening the risk that any uptick in interest rates could be a major setback.”

January 2015 Case Shiller Home Price Index

For questions about Steamboat’s real estate market and the Steamboat lifestyle, please ask me. I am passionate about my community and real estate. Search all homes, townhomes and condos here.

Regards,
Charlie

Want to learn more about me?

Charlie Dresen
Real Estate Associate Broker |Sotheby’s
Change Your Experience
970-846-6435 | SteamboatsMyHome.com
Charlie@SteamboatsMyHome.com