When COVID-19 became a part of our lives in the US in mid-March, uncertainty suddenly became a real factor in everyone’s day-to-day life. While this report specifically focuses on January to June, it will also include a brief outlook moving forward. The market is giving us a good idea of how demand is coming back, so we will also discuss what we are seeing through the end of the summer as our short-term outlook on the real estate market.
The increased demand is looking more like a structural change for our market. Looking back, we talked about compressing the summer selling season into a short time period. In the last month or so, it has become apparent to me that there is more to it.
In August, September, and October & November we saw the months four highest monthly sales volume's in the past 5 years.
Click on the link below you will see that there is a slight drop in total sales volume for November vs the previous 2 months. Click below to learn the story.
The past 3 months have been busy! With a compressed selling season and more people able to work from anywhere. Sales volume was up 68% in July, 75% in August, and 171% in September. In addition, total $ sales volume through the 3rd quarter is up 30% vs. 2019 while units sales are up 10%.
When COVID19 became a part of all of our lives in the US in mid-March, uncertainty suddenly became a real factor in everyone’s day-to-day life. While this report specifically focuses on January to June, it will also include a brief outlook moving forward. The market is giving us a good idea of how demand is coming back so we will also discuss what we are seeing through the end of the summer as our short-term outlook on the real estate market.
We hope that each of you and your loved ones are doing well in this uncertain time. Steamboat Springs has grown even stronger as a community with an incredible outpouring of support for organizations and people in need.
Click below for our 2020 First Quarter Report
Real demand from locals, people who want to be in Steamboat more, and location-neutral people moving here along with nearly 50% cash purchases is comforting compared to 2007. Steamboat is a special community, local buyers made up 50% of sales in 2019 compared to 13% in other towns like Breckenridge. That makes a big difference!
The real estate market in Steamboat / Routt County continues to be strong. Demand has been steady, supply is limited by the characteristics of a mountain town.
Demand is consistent so most values have increased but there are exceptions where supply is high.Properly priced & marketed homes are selling well but homes that reach too far are sitting a long time then selling for lower prices.
Learn more about what is going on in the first quarter of 2019 here within the single family market, condos, townhomes and more!
This report summarizes 2018 in full and compares the real estate market in Steamboat to 2017. We expanded the report this quarter to include Hayden, Phippsburg /Yampa/Oak Creek, and StagecoachRead details on the different segments by clicking below.
At this point in 2018, the market is healthy with avg. prices increasing due to real demand and limited inventory.Read details on the different segments by clicking below.