Steamboat Springs, CO -
Q2 2017 vs. Q2 2016 stats continue to show low inventory levels in all market segments except the luxury $2M+ range.
The number of units sold and average purchase prices are up year over year. Interest rates remain historically low (around 4.125%). Buying power remains strong and rental rates continue to climb as fewer units are available. This is good news for investors or those wanting to enter the market prior to prices increasing. Other than the 92 home Sunlight development, no new major projects have officially been announced; inventory should remain tight for the next 18-24 months.
We’ve seen a significant increase in investor activity after the announcement of the ski area sale to Aspen/KSL. We expect that there will be increased interest when ski passes become valid at other resorts leading to more Aspen visitors exploring Steamboat.