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Steamboat Sotheby’s International Realty recently compiled data provided by the Steamboat Springs Board of Realtors for the 1st Quarter 2017, and the statistics confirm what many have been saying – Routt County is experiencing a strong real estate market, especially when compared with the same time period in 2016.

For residential sales in Routt County, units sold in the 1st Quarter 2017 was at 182, up from 115 in the 1st Quarter 2016, marking a 58% increase year-over-year. Median sales price jumped from $353,500 in 2016 to $432,500 in 2017 – a 22% increase. Total sales volume of residential properties was at $118 Million through March 31, 2017, compared with $61 Million through the same time period in 2016, representing a whopping 94% increase. Total sales volume, including land and commercial properties, was at $130M through 1st Quarter 2017, up 65% from the $79M total posted in 2016.

Steamboat Sotheby’s International Realty is proud to provide million dollar service to our clients at all price points. SSIR captured over 52% of the market share for non-commercial property sales in Routt County through the end of the first quarter, representing buyers and sellers across all price points and all types of properties.

Steamboat Sotheby’s International Realty participated in 59% of the sales under $500,000, 61% of the closings from $500K – $1M, 81% of the sales from $1M – $2M and 100% of the transactions over $2M.

(DOWNLOAD the 1st Quarter 2017 Market Snapshot)

With the announcement in April of the ski area acquisition by Aspen Skiing Co. and KSL Capital Partners, as well as the announcement in March of a potential merger between Yampa Valley Medical Center with UCHealth hospital system, there is a general feeling of confidence in the Steamboat Springs community and economy, and a generally optimistic outlook for the near future.

In our technological age, it is more important than ever to have a professional expert to help you sift through all of the information that is available, just one or two clicks away. Do you have the most up-to-date information? Is the information you are viewing accurate? Is it pertinent to our area? The real estate market is a market like any other, with values determined by supply and demand, by what a seller is willing to sell at and what a buyer is willing to buy at. However, unlike other types of markets, the characteristics and trends of a real estate market vary widely depending on location. In a market like ours in Steamboat, there are many micro-markets that show wildly different behaviors from one another. The market for a mountain area condominium will differ significantly from the market for a farm and ranch property. The behavior of buyers and sellers in the luxury second home market is different than those in the first-time home or middle-class single family home market. For expert advise, the most up-to-date and accurate information, and how to interpret that information based on your specific circumstances, contact one of our real estate professionals.

VISIT THE MARKET INFO PAGE OF OUR WEBSITE for additional market reports, including our 2016 Annual Report, 2016 Resort Report and Monthly Market Snapshots.

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