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As we move toward the mid-year point of 2017, the real estate market in Steamboat continues on its upward trend. Market statistics for year-to-date 2017 through May 31 show significant increases across most residential categories when compared with the same time period in 2016.

WHAT ARE THE NUMBERS?

Number of residential properties sold through May 31, 2017 was 345, compared to 269 sales in 2016, an increase of 28% year-over-year. The median sales price jumped from $375,000 in 2016 to $430,000 in 2017, a 15% increase. Total residential sales volume increased a whopping 61% over this time frame, from $135M in 2016 to $217M in 2017. The only residential category where we see a decrease is in Pending, or Under Contract, Listing – from 217 in 2016 to 177 in 2017.

WHAT DO THE NUMBERS MEAN?

The Steamboat Springs real estate market statistics through May 31 are indicative of the continuing trend we are seeing. Values are up, volume is up, inventory is down (accounting for fewer properties under contract).

IS IT A GOOD TIME TO SELL?

Steamboat’s real estate market encompasses so many different categories, types of properties, neighborhoods and areas. The trends that we are seeing in the Residential segment of the market will differ from what is happening in the Land market. Even within the residential segment of the market, what a seller or buyer might be able to expect can vary greatly depending on the type of property and location. For example, a ski-in/ski-out real estate property at the Steamboat Ski Area will differ from a single family home in downtown Steamboat or a farm & ranch property in a more rural area.

As always, having expert advice from a professional who has experience in analyzing all of the different facets of our Steamboat Springs real estate market is crucial when making a buying or selling decision. Call us today …

VISIT OUR MARKET INFO PAGE for a copy of the May 2017 Market Snapshot and additional market reports, including Steamboat Springs Real Estate market report for 1st Quarter 2017, Year End 2016, Resort Report 2016 and more!

>>READ NEXT STORY:  Perfecting the Art of the Steamboat Summer BBQ<<


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