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Real Estate – Steamboat Springs, CO

Steamboat Springs Real Estate

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Since the New Year, Steamboat Springs’ real estate market has been showing many positive signs of growth. From a strong local economy, to an early spring real estate market, to low housing inventory available, Steamboat Springs real estate market seems to be off to a strong start as we ramp up and approach the hot Spring housing market.

JetBlue To Add Flights To Steamboat Springs

In late April, Tom Ross penned a story for The Steamboat Pilot & Today that announced JetBlue’s intention to add 3 new destinations to Steamboat’s flight schedule. “Steamboat Ski Resort announced Wednesday, April 25 it will add three new direct flights in ski season 2018-19, all on JetBlue, from three corners of the United States. For the first time, it will offer direct flights from the biggest airport in New England ski country with twice weekly flights from Boston Logan International, plus a weekly flight from Fort Lauderdale-Hollywood International Airport and another twice-weekly flight from Long Beach Airport.”

These additional weekly flights are not only a testament to the growing popularity of skiing in Steamboat Springs, but to the strength of our local economy, which tends to dictate strength in the real estate market as well.

Yampa Valley Regional Airport Director Kevin Booth said “pre-existing plans to build a seventh aircraft parking pad at the airport this summer while not specifically for JetBlue, will make it easier to accommodate the additional traffic this winter at the airport operated by Routt County.”

Awards To Steamboat Springs Ski Resort Spur Interest In Steamboat Springs Real Estate Market

Another source that has been increasing interest in Steamboat Springs and, as a result, the Steamboat Springs real estate market is the naming of Steamboat Springs for numerous awards and the newly released Ikon and Epic ski passes available for the 2018-2019 Ski Season. Known as the home of Champagne Powder, Steamboat Springs was named by Ski Magazine as having the best tree skiing in North America, and as the most authentic mountain town. With these extra accolades, many people have had their interest piqued, both in terms of visiting Steamboat Springs, and in terms of investing in the local Steamboat Springs real estate market.

For older generations who are getting close to retirement, and for people looking to relocate to enjoy a more active outdoor lifestyle year round, Steamboat Springs is calling and offers an attractive, viable option for a place to either have a second home or relocate too- both of which increase the interest in the Steamboat Springs real estate market.

Tight Housing Supply Bumps Prices In Steamboat Springs Real Estate Market

According to an article run in The Steamboat Pilot & Today on April 30th, a “tight {housing} supply bumps homes in Steamboat into the $600K range, underscoring how tight housing supply is pushing the price of homes originally intended for working households to new heights.”

The example used in the Pilot was a late April sale of a two-story, 2,000- square-foot, single-family home in the West End Village neighborhood. Built just a few years ago in 2015, this four-bedroom, 2.5 bath home located at 2339 Oxford Way sold for a reported $675,000, or a whopping $337 per square foot.

“A standout” in the West End Village neighborhood, this home reportedly had multiple offers the first day. According to the buyer’s broker, Robert Yazbeck, of Coldwell Bankers Distinctive Properties, the house had clean architectural lines that are commonly found in seven figure homes.

Yazbeck says that while his clients were not aggressively looking at the time of purchase, they had been watching the market for some time and opted to strike while the iron was hot, since inventory is extremely low. “We had shown them everything comparable, and there just weren’t many options.”

Back in February, the Pilot ran a piece that was an in-depth look at how tight the Steamboat Springs real estate market was becoming.

In addition to there being low-inventory of homes in the higher-end range of $450,000 to $750,000, there appears to be a shrinking supply of homes in the under $200,000 range as well. With a lack of affordable lower-income housing and a rise in the price of “middle-range” homes to the $600,000 and higher bracket, it is clear that the Steamboat Springs real estate market is hot and continuing to heat up quickly.

What To Do To Break Into The Steamboat Springs Real Estate Market

Whether you are looking to move to the mountains, get a second home here, or upgraded to a larger home in Steamboat Springs, you must have a strong local Realtor on your side to ensure a smooth real estate process.

An experienced agent who knows the local market can make all the difference when trying to buy or sell in the Steamboat Springs real estate market, especially when the inventory is low like it is now.

With over a decade of experience in the local Steamboat Springs real estate market, and the strength of the Sotheby’s brand backing her, Sunny Brstina is recommended year after year for her experience of all things real estate-buying, selling and investing- and her outstanding customer service. More information about her current listings and registered sales can be found here:
www.steamboathousesforsale.com.

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Your Happiness Is My Motivation
Sunny Brstina | Steamboat Sotheby’s International Realty
Real Estate Broker | 970.846.1574| sunny(dotted)steamboat(at)gmail(dotted)com
Website:www.SteamboatHousesForSale.com

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