The year started with a pandemic, changing the lives of many people. 2020 Steamboat Springs real estate market started with “Freeze” at the beginning of the pandemic. No showings, no open houses, no travelings. Buyers stopped buying, and Sellers pulled their properties off the market. This all lasted somewhere between February 2020 and June 2020. At the beginning of June 2020, Steamboat Springs real estate market went from “Freeze” into “Boil” very quickly. Nearly every major record was broken for the Steamboat Springs MLS.
Small mountain towns like Steamboat Springs became very attractive. Some of the reasons for a huge demand in Steamboat Springs are:
- Healthy lifestyle – According to US News Healthiest Communities Rankings, Routt County has been recognized as the fifth-healthiest county in the country.
- Lower elevation compared to most other ski resorts in Colorado
- Small-town living
- Year-round activities
- Highly ranked schools
- Strong community
- Outdoor lifestyle
- Lots of great changes around ski-area
- IKON pass
The pandemic and ability to work from home gave some a reason to look elsewhere for a healthier lifestyle and less crowded areas with options for outdoor activities.
The Sellers held off placing their properties for sale. Low inventory and high demand kept pushing Steamboat Springs real estate prices up. Buyers often ended up in the bidding wars, and many properties ended up selling above the asking price.
Inventory levels are still very low, and demand is very strong. If you are thinking of buying property in Steamboat Springs, you most likely need a local Realtor’s help. Feel free to call me and discuss different options on how to submit competitive offers, how to be prepared if the property you like gets listed, and how to be notified about new listings very quickly. This is a very competitive market, and often, if you don’t get notified about new listings quickly, chances are the property will be under contract before you even get a chance to submit an offer.
Your Happiness Is My Motivation
Sunny Brstina | Steamboat Sotheby’s International Realty
2020 Global Summit Award | 2020 Largest Production Increase Award
Real Estate Broker | 970.846.1574 | sunny(dotted)steamboat(at)gmail(dotted)com