It’s been a great winter in Steamboat Springs! Over 250” of snow has fallen and we are looking at another foot for the weekend. There have been moments when we wonder if the snow is going to stop. Recently, temperatures have been rising and Spring songbirds have been spotted.
Here are the market stats:
The numbers don’t really say anything. What says a lot are the graphs. Both charts indicate a small appreciation over the past year. What is most significant to me is the sideways movement that generally started early last year.
After a year of 18% appreciation, a cool off year isn’t a surprise.
In comparison to Denver and national trends, we are seeing rents stabilize, prices be more competitive (with over 23% of prices being reduced), and inventory increasing. With the news of housing across the nation seeing slowdowns in new construction as well as the number of transactions, Steamboat Springs has remained stable.
For the upcoming time, it appears Steamboat will maintain this trend. With inventory at a healthy 6 months of homes, and builders here with a better confidence than other markets, Steamboat Springs is a good place to own a home.