Routt County 2007 Real Estate Sales Smash Record

Despite a slow end to 2007, Steamboat Springs, CO again recorded a record year in real estate sales.  Routt County will reach $1.5 billion by the time all transactions are recorded.

November trends:

• Less inventory meant less sales volume.  Sales were off 35% from November, 2006.
• Fewer entry level homes were sold (defined as less than $500,000). 
• November, 2006 had 109. 
• November 2007 had only 53.
  
• As sales have stabilized, listing prices should stabilize as well.  Last year, as prices increased 5% a month, Sellers asked for--and got--eye-popping increases over the last units sold in their condo development.