Building Permits: What's the Real Estate Story?

Posted by Colorado Group Realty on Wednesday, October 18th, 2017 at 10:50am.

Steamboat Springs, CO -

The Routt County Building Department issues building permits within county and city limits for all types of construction. This includes single and multi-family homes, duplexes, commercial and industrial projects, as well as additions, renovations, and accessory structures. Following the financial crisis, building tapered off and subcontractors were more available and affordable. Almost a decade later, things have changed— especially within city limits. 

In 2007, there were 31 single family home permits issued within the Steamboat Springs city limits and 127 in Routt County. In 2010, permits dropped by 77% in city limits and 95% in the county. By the end of 2016, numbers inside city limits recovered, ending at 110% of 2007 levels. County numbers were slower to recover (57% down from 2007) and continue to linger behind in 2017 (44% down from 2007). The number of permits issued, however, compared to property valuations (26% down from 2007) indicates a rise in building costs.

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