Steamboat Springs Market Information
The real estate market in the City of Steamboat Springs continues to be strong. For the third quarter of 2016, the number of transactions were 1725 which is a 12% increase in transactions from the third quarter in 2015.Total sales volume was $924 million which went up by 24% from the same period in 2015.
Inventory continues to tighten in the city. As of November 1st, 2016, the number of condos and townhome on the market dropped by 45% from the prior year to 241 units. The number of residential lots dropped by 11% to only 85 lots. The same trend was seen in single family homes listed for sale. That segment of the market dropped by 41% to 82 homes for sale.
At present the market does not significantly favor buyers or sellers. But if this tightening of inventory continues into the first part of 2017, the equilibrium currently seen may shift in favor of the sellers.
Colorado Group Realty continues to participate in almost 30% of all real estate transactions. If you have any questions about the market, please contact your Colorado Group Realty broker.