Luxury Homes Accounting for Almost 1/3 of Single Family Sales in Steamboat

Posted by The Steamboat Group on Monday, August 2nd, 2010 at 4:46pm.

Price drops on high-end luxury homes have helped many people interested in Steamboat Real Estate find their ideal homes in the first half of 2010. Almost 1/3 of the single family homes sold in the first half of 2010 have been valued at over $1m, compared to 21 percent of single family homes sold that were valued at over $1m in 2007. Large price drops have been credited as a major factor for this increase of luxury home sales. One notable example was a home in Stonebridge Park, that sold for $3.2 million this week in a cash transaction. ‘The house, in the only gated community in city limits and within listening distance of Fish Creek, originally was listed for more than $6 million.’

This has led to many people on a search for ‘measurables (price per square foot) and intangibles — homes with great views and a great feel.' The article in the Pilot continued, quoting me stating that 'you can get a brand new home with beautiful finishes for less, in some cases, than you can purchase an older, owner-occupied home,” he said. “Homes that had been priced at $500 to $700 per square foot are selling in the $300 (per-square-foot range).”

Working with someone who is familiar with the area and the market conditions is the best way to find a home that best suits your goals. For more information a thoughful take on values and a low-key approach to finding a home in Steamboat, feel free to send me an email at Jon@TheSteamboatGroup.com or give me a call at 970-879-0879.

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