We wanted to reach out to our clients and friends during this tenuous time with some much-needed optimism from Steamboat.
So far, statistics show the market is somewhat stable. To date this year, we’ve had 196 sales, which is on par with the number of sales at the same time last year in 2019. “The market appears stable, although it is difficult to assess the short-term effects of real estate, not just here in Steamboat but anywhere in the country, as there is no historical evidence of what happens to real estate values when a pandemic occurs,” says Cam Boyd, Owner/Broker at Steamboat Sotheby’s International Realty. “In the long run, we feel that real estate in resort areas like Steamboat Springs will be in greater demand as the general population learns that they can work remotely and can live anywhere they want.”
This too shall pass.
Steamboat has not been immune to COVID-19; our community has been affected with closures of our ski resort, schools, restaurants, theatres, retail stores, and most public spaces. But there’s also an upside to living in a remote mountain paradise: the outdoors remains open. Locals continue to spend plenty of time outside. We are hiking, snowshoeing, cross country skiing, and snowmobiling. We are taking long walks and spending quality time with our loved ones.
“It appears from the maps and the information that we’ve seen that the pandemic is growing more in densely populated areas,” Boyd says. “With Routt County and Steamboat being less dense and a more rural setting, we hope that we will not see the transmission moving through our area as badly. We also think this could have a positive impact on future sales as there may be a trend of buyers looking to get away from urban centers who are seeking a change in lifestyle after the pandemic is over.”
We are also seeing the benefits of our small town, close-knit community, helping our friends, neighbors, and people in need. “Our organization is working together with the Yampa Valley Community Fund to help support those in need of help with Lift Up Food Bank and other non-profits serving the community,” Boyd says.
Even if we have to stand six feet apart, we are still here for each other.