1. 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.
2. Total $ sales volume through the 3rd quarter is up 30% vs. 2019 while units sales are up 10%.
3. More High End Sales in September - In September of 2020 there were 17 sales over $2M (32% of the total sales volume) vs. in 2019 there were only 2 sales over $2M (7% of the total sales volume).
4 - Green acres are the place to be - We saw a big increase in the popularity of rural homes to the highest level I have seen in 15 years as prices increase in town while at the same people are valuing getting away from it all in the country.
5. Land is selling Faster - While not covered in this report land is now selling significantly faster and often for more than we saw in 2005 or 2006 but not for the most part at the values we saw in 2007. This is clearly due to the limited inventory of homes which is pushing more people to build.
- We all know that there will be ups and downs
- Covid pulled in plans for many and the first wave was strong so many wonder if things will pull back next year. That is a possibility, but I would also consider that many people will wait a year to see how working remotely goes and if it is practical long term. Others didn’t find the property in the first wave and are still actively looking.
- What gives us comfort looking forward is that Steamboat is a great place to live or vacation and more people are flexible in where they live.
- Prices are up but increasing values also bring more properties on the market as current owners consider their goals to sell once they get a certain amount of equity or their needs change.
- In a way nothing has changed. Steamboat is a great place, with a wonderful community of nice people that locals love and many people aspire to be a part of. That has been true for a long time and we don’t see that changing.
"For some, it was always the plan and the pandemic just accelerated the plan while others had a change of heart about living in the city.”
“As many firms embrace remote working people are taking the opportunity to untether from astronomically priced cities and get more space, scenery, and quiet …
“You can work from anywhere right now and I don’t think that’s going to change.”
“Whatever it is that brings joy and relaxation is being given a much higher priority.”
When Results Matter, Contact The Steamboat Group.