Should I invest in Steamboat Springs?
Should I invest in Steamboat Springs? I keep hearing this question over and over. Steamboat Springs definitely became a desirable location for many investors and developers. Lots of positive changes are happening in beautiful Steamboat Springs.
A Popular Resort Town With Year-Round Visitors
Located in the top Northwest corner of Colorado, just 3.5 hours away from Denver, and positioned in between Routt National Forest and the Yampa River is the growing mountain town of Steamboat Springs. With approximately, 450,000 visitors annually, Steamboat Springs, hosts visitors of all ages who come primarily for vacation and leisure.
The majority of visitors to Steamboat Springs come from within Colorado with the top three counties of residency being: Denver (16%), Jefferson (14%), and Larimer (13%). Texas takes second place as the next largest visitor state of residency with 7.1% of Steamboat Springs’ visitors enjoying their vacation time in “the boat.”
A steady stream of visitors to a resort town is a good indicator of a local economy’s strength, which is important from a development standpoint if you want to invest in real estate in Steamboat Springs.
Statistics from the 2016-2017 ski season show that Steamboat Springs is on the stable economic ground and continuing to grow in strength every year. During this year’s past ski season (November through April), there were 3,270 hotel/condo units available, for a total of 10,485 beds (single, double, queen etc.). In the past 3 years, Steamboat Springs has maintained an occupancy rate of 66% for hotels and condo units and that percentage does not take into consideration Airbnb, private rentals, or other housing websites that help with seasonal rentals.
Overall, Steamboat Springs proves year after year to be a desired vacation spot, and visitors frequent the town throughout the year, with 45% coming during ski season months (roughly December through April) and 55% coming during non-ski months.
Steamboat Springs Is A Top Location For Seniors
The Denver Post just released a story in their business section that identified the top 5 towns that rank highest in senior population growth, and Steamboat Springs was number 1.
This is another strong indicator of a town’s local economic strength, available resources, access to art, cultural, and leisure activities, and it explains why it is a draw for various populations to live there.
When retirees choose a place to settle down and spend the later years of their life, it is a testament to that area’s economic stability, access to things such as health care and art and cultural activities, and local lifestyle.
Steamboat Springs Holds Onto The Spirit Of The West
Identified by Powder.com as a town: “seemingly stuck between deciding if they are a ski town with a cowboy problem or a cowboy town with a skiing problem, Steamboat Springs still holds tight to the spirit of the Wild West.”
Each February is Steamboat Springs’ annual Winter Carnival. This weeklong lineup of events represents the longest continuously run winter festival west of the Mississippi. For an entire week, the whole community participates in dual slaloms, parades, snowboard jam sessions and more- all in celebration of the winter months, Steamboat’s signature champagne powder, and all things cowboy culture related.
This annual tradition not only shows that cowboy culture is alive and well in Steamboat Springs, but also that Steamboat Springs is a town with deep roots focused on traditions, family activities, and celebrating the small mountain town lifestyle- all enticing reasons for living in a place as unique as Steamboat Springs.
While all of these factors may seem insignificant on their own, there is something highly desirable about developing real estate in a small town and living there, within such a unique and welcoming community.
So, if you are interested investing in Steamboat Springs real estate development property or buying or selling a home in Steamboat Springs, contact Sunny Brstina of Steamboat Sotheby’s International Realty directly at: 970-846-1574 or visit her website at:steamboathousesforsale.com.