June was a wonderful month in Steamboat Springs. The weather could not be beat - blue skies and mid-70 degree weather up until July 1st. Now it’s in the 80’s and many people are taking an hour or two in the afternoons to float an inner tube down the Yampa River. June also saw a couple free concerts from the Steamboat Springs Free Concert Series, Farmer’s Market open, and many Summer events. This coming weekend is our hot air balloon festival.
Here’s the stats from last month:
|
Apr-15 |
Apr-16 |
Apr-17 |
Avg Days on Mkt |
April Units Sold |
Famiy Homes |
$775,000 |
$775,000 |
$790,000 |
149 |
13 |
Condos |
$285,000 |
$335,000 |
$360,000 |
130 |
18 |
Townhomes |
$384,000 |
$472,100 |
$577,000 |
154 |
10 |
|
|
|
|
|
|
|
|
|
|
|
|
|
May-15 |
May-16 |
May-17 |
Avg Days on Mkt |
April Units Sold |
Family Homes |
$605,000 |
$642,900 |
$950,000 |
195 |
22 |
Condos |
$295,000 |
$344,500 |
$300,000 |
263 |
29 |
Townhomes |
$367,250 |
$495,000 |
$577,000 |
226 |
10 |
|
|
|
|
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|
Jun-15 |
Jun-16 |
Jun-17 |
Avg Days on Mkt |
June Units Sold |
Family Homes |
$907,708 |
$1,094,104 |
$809,309.00 |
105 |
21 |
Condos |
$284,648 |
$428,471 |
$397,636.00 |
147 |
22 |
Townhomes |
$410,031 |
$528,629 |
$622,300.00 |
182 |
12 |
June sales were strong and paralleled 2016 very closely in number of units sold. Values fluctuated a little more than I expected. Overall, our inventory remains at a 2-3 month supply, depending on type of property. Some of this activity comes from the vibrant Spring season where some transactions from April-May closed in June.
Family homes are in demand and few are being built. It is well known locally that these properties are preferred at this time, especially old downtown homes. This comes dominantly from families moving to Steamboat, rather than move up housing. Condos are consistent, having about the same value month to month, with a mostly consistent number of transactions. Inventory remains good for condos, and some units are seeing price drops as the Summer continues. Town homes are being found as a great alternative to condos. They commonly have the same amenities as condos, but have more reasonable HOA fees, and sometimes better locations in quieter neighborhoods.
In June, there were three commercial sales. One sale was a live-work unit with 2270 square feet with a value of $455,000. Two sales were retail spaces in downtown Steamboat valued over $300 a square foot. One unit took six months and the other, more than a year to sell.
Stagecoach and Oak Creek continue to grow with workforce housing buyers, vacation home buyers, and investment speculators. Eight homes sold and one townhouse. All of these sales were $455,000 or less. The media list price in Oak Creek in the past week is $577,000.
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