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If this year hasn’t been wild enough with everything going on in the country and around the world, this summer, the Steamboat Springs real estate market has been more active than ever before. In the last few months, we’ve seen unprecedented activity, despite record lows in available listings. August represented the highest residential sales volume in any given month in our market, with a whopping $121M in residential sales volume.
Last month, we reported that July 2020 saw a 99% increase in pending residential listings when compared to the same time in 2019, while the number of active residential listings on August 1st 2020 was 49% less than it was on August 1st 2019. This is a clear display of the imbalance between supply (active listings) and demand (pending listings) that we’re seeing in our market.
In the month of August, the Steamboat Springs multiple listing services (MLS) reports that there were 158 residential sales – the highest on record in the last ten years, and only second to one previous month, May 2007 with 162 sales. Not only is this a near record-setting month in terms of number of transactions, but it’s also the first time this year since the beginning of the pandemic that the overall sales volume year-to-date has seen an increase as compared to the same time frame in 2019. Through August 31st 2019, residential sales volume totaled $395M, and through August 31st, 2020, sales volume is up 6% to $420M.
So far in 2020, Steamboat Sotheby’s International Realty has garnered the lead market share, representing nearly 40% of the total residential sales volume in the market.
These are just some high-level stats of the residential sales activity in our market through the end of August. For more information on market info or how these numbers pertain to you, visit our website steamboatsir.com.