I write the Steamboat Real Estate Week in Review to give buyers and sellers of Steamboat real estate real numbers they can use when making offers, evaluating prices, and listing their homes.
It's a starting point for those looking to purchase a house in Steamboat or determine trends for the house you own.
Statistics like days on market and list-to-sold ratios are guidelines, or pieces of the valuation puzzle. The stats are the “big picture” which is made up of dozens of smaller Steamboat micromarkets.
For example, I don’t list the Days on Market anymore because we’ve seen a whole lot of listings on the MLS appear as “withdrawn” one day and “new listing” the next. The real estate hasn’t changed; the days on market, however, changed from 175 to 1. Unless your Realtor is aware of the Steamboat inventory, it is easy to think the property was just listed when it’s been on the market for a year.
List-to-Sold ratios are another number that has to be looked at in the context of your micromarket. If you are looking at Steamboat ski condos with 2 bedrooms between $500,000-$750,000, the list-to-sold ratio will be different than someone looking at a brand-new 3 bedroom home under $350,000 in Hayden, Colorado. The condo example has 24 active listings and four pending listings. There are only 2 active listings—and one pending—with the Hayden example.
So if you’re looking for a two-bedroom ski condo, you can take your time and look around. But if you are looking in Hayden, you need to act quickly if a home comes on the market.
It’s important to narrow down your search as you determine what you and your family need and want. What areas do you like? What price range can you afford? What lifestyle do you have? Once you and your Realtor (let me know if you need one) have narrowed down the specifics, then you can use the statistics in your micromarket to make an offer.
Ready to get started?
The first step is to call or email me so we can talk about your situation (hobbies, family, bedrooms, garage, location—on the mountain, ski-in, ski-out, bordering public land, fishing access,etc., pets, price range, etc.). You’ll start to receive updates every time a house, condo, or townhome that fits your criteria comes on the market. You’ll also receive price reductions. You’ll start to see what is available, how often price reductions are occurring, and what units have been renovated.
You will become an expert in your micromarket. Working together, we can structure an offer, negotiate details, and find you Steamboat real estate you’ll enjoy for years to come.
Be sure to visit SteamboatHomeSales.com for the latest Steamboat Real Estate Week in Review or subscribe here to receive the latest posts by email.
Comments(0)