2018 - Year in Review


Our goal at The Steamboat Group is to help our clients make informed decisions about real estate in Steamboat. You are Smart, we help you be smart about Steamboat Real Estate. Below is a quick and easy guide to what is happening in the Steamboat Springs Real Estate market - Notable trends, changes, and shifts over time. 

Why The Steamboat Group? - UNDERLINE

Proud to have helped 103 families in 2018 the most of any team or agent 

5 time Best of the Boat Real Estate agent & 2018 Best of the Boat Real Estate Firm

$40,000 given back to Steamboat in 2018, over $7,000 per broker. 

39% more productive per broker than any other Top 5 Firm in Steamboat

When Results Matter call The Steamboat Group, ask to see our stats.

Single Family

  • This has been one of the best performing segments in the market this year to date with almost all stats hitting the double digits for appreciation in this segment.
  • One of the biggest stories that we have heard, is a lack of inventory in this segment.  While we don't report on Days on Market, homes that have been coming on in this segment that are priced well are selling quickly, often at a premium price.
  • While the average sales price of single family homes has increased, the average sales price for the top 10% of homes, or the Luxury Market, has raised the overall price range included in Single Family homes. For example, the highest sale included in this segment was $1.53M in 2017 and is now $2.0M in 2018.
  •  This does pull up the average sales price & dollars per square foot more than the average home has appreciated. For example the average $1.5M home in 2017 is not worth $2.0M in 2018. The difference is a higher % of people are buying higher quality homes.
  • See Luxury Single Family Homes below for how the top 10% of the market by units is doing. We separate them so the averages are more meaningful.

Luxury Single Family

  • This segment represents the top 10% of Single Family units with the highest sales prices. We feel that looking at these separately gives you better insight into both the luxury and the traditional single family home segment.
  • In 2018, 20 of the 26 sales were over $2.5M vs. only 6 of 27 sales in 2017. The mix of which homes sold in this range shifted from below $2.5M to above $2.5M. This was the main driver that caused such a large % increase in the average sales price.  The average quality of the homes sold increased more than the value of each home.
  • This segment is unique because a few sales can shift the numbers considerably. In 2017 there was one sale at $9M. Without this sale, the increase in average sales price would be even higher.  We have also seen a shift from high-end condo sales to high-end single-family sales in 2018, as few condos in that range are available. 
  • Note - With the transition in Steamboat to a new MLS system in late-2017, we don't have finished sq ft in the data from 2017 so the appreciation is a bit understated.
  • The highest sale included was $9.0M in 2017 vs. $8.4M in 2018
  • In 2017 there was only 1 sale over $3.5M, in 2018 there were 8 over $3.5M


  • The 20% increase in total sales volume was mostly unit driven by more sales in both the lower and higher end of the spectrum. The average price is up slightly, but the primary factor that resulted in the increased sales volume was the increase in units sold.
  • As Single Family home prices continue to go up, we expect Townhomes/Duplexes to continue to be an active part of the market at all price points.
  • In 2018 there was a 28% increase in the number of sales above $900k and there were also 20% more sales under $500k. Compared to a nominal 5% increase in the amount of sales between $500-900k. This is what led to the relatively stable average sales price which grew 4% even with the high increase in volume.


  • It's interesting that the average sales price is down, but the median is up slightly. That said, most condos are worth more than last year (up 5-20%). The decrease in average is due to significantly fewer luxury condo sales in 2018 due to lower supply of those. There were fewer sales in 2018 over $800k (12 in 2018 vs  24 in 2017) but, between $600-800k there were 28% more sales in 2018. This kept the median relatively similar YOY, while affecting the average more dramatically. 
  • This is due to 2 main factors: 1) More people have turned to single family homes in the higher end market, as seen above in the single family stats. 2) There are also fewer options currently available on the market in the higher price range for condos.
  • Condos under $400k are down 20% YOY.  In 2017, 218 condos under $400K sold vs. 179 in 2018 due to lower inventory in this segment.
  • In 2017 there were 8 sales over $1.5M, in 2018 there were 3. There were much fewer condo sales in places like One Steamboat Place and Edgemont which reduced average sales prices.

Hayden Homes

  • The Hayden market was very strong in 2018. Increasing prices in Steamboat, the new K-12 school project, brewery & coffee shop, and an increasing sense of community is making Hayden an even better place to live.
  • New construction became a larger segment of the market in 2018 as overall demand has increased.
  • Sales volume is up 42% which the highest growth segment in 2018. As the price of single family homes continue to increase in Steamboat we expect this trend to continue in outlying areas like Hayden.
  • The higher end of the market also increased dramatically. The highest sale in 2017 was $322k. In 2018 there were 16 sales above $322k! As a result, the average price increased 15% while the median only went up 6%.

Phippsburg /Yampa/Oak Creek Homes

  • Similar to Hayden, people interested in the Yampa Valley are exploring areas outside of Steamboat.
  • Unlike Hayden, which saw a shift in the upper end of the market as a whole, the Phippsburg/Yampa/Oak Creek increase in average sales price, volume and median was driven by just a few sales. In 2017 the highest sale was at $390k. In 2018, there were 5 sales above $390k (at $1.1M, $650K, $635K, $420K & $400K) that drove the average price up so dramatically. Without these 5 sales, average sales price would have increased 8.7% vs the recorded 32.5%.


  • Similar to Phippsburg/Yampa/Oak Creek there were a few sales that drove this section of the market.  The change here being that there were fewer high end sales in 2018.  In 2017, we saw 6 sales above $600K vs. only 2 in 2018.
  • As Steamboat Springs home prices continue to increase, we expect Stagecoach will continue to be an active market.
  • Price per square foot is up 7% while the size of the homes are roughly 8.5% smaller.
  • Note: Stagecoach is technically in Oak Creek, but not for MLS purposes. Stagecoach is a separate area that is not reflected in the Oak Creek data above.
  • We wonder if Hayden is attracting more of this segment of the market given the positive changes and growth there. That is hard to prove, it could be normal variations given sales are only $17M. A few sales make a big difference and inventory could be a factor. 

Know your home’s value?

We'll send you a free home valuation to help get the selling process started.

Get Your Home's Value or contact us for more info

-  All of the data and information from this page was obtained from the Steamboat Springs MLS.  

We use cookies to enhance your browsing experience and deliver our services. By continuing to visit this site, you agree to our use of cookies. More info