STEAMBOAT SPRINGS CO REAL ESTATE MARKET UPDATE MAY 2017
- MARKET STATISTICS – IS REAL ESTATE MARKET STRONG?
- RECENT SALES – HOW ARE THE SALES COMPARED TO LAST YEAR?
One of my favorite questions is:
STEAMBOAT SPRINGS CO REAL ESTATE MARKET UPDATE MAY 2017-WHERE ARE WE AT?
-How is Steamboat Springs Real Estate Market doing?
Great news is, the real estate market in Steamboat continues on its upward trend. Values are up, volume is up, inventory is down. Market statistics for year-to-date 2017 through May 31 show significant increases. Increases are across most residential categories when compared with the same time period in 2016.
- THERE ARE SOME NUMBERS…
Number of residential properties sold through May 31, 2017 was 345, compared to 269 sales in 2016, an increase of 28% year-over-year. The median sales price jumped from $375,000 in 2016 to $430,000 in 2017.This is a 15% increase. Total residential sales volume increased a whopping 61% over this time frame.Increased from $135M in 2016 to $217M in 2017. The only residential category where we see a decrease is in Pending.Also, Under Contract, Listing – from 217 in 2016 to 177 in 2017. - IS IT A GOOD TIME TO SELL?
Steamboat’s real estate market encompasses so many different categories, types of properties, neighborhoods and areas. The trends that we are seeing in the Residential segment of the market will differ from what is happening in the Land market. Within the residential segment of the market, what a seller or buyer might be able to expect, can vary . That depends on the type of property and location. For example, a ski-in/ski-out real estate property at the Steamboat Ski Area will differ from a single family home in downtown. Steamboat or a farm & ranch property in a more rural area.It is especially relevant to have expert advice from a professional who has experience in analyzing all of the different facets of our Steamboat Springs real estate market. When making a buying or selling decision please give me a call…