Steamboat Real Estate Market Update - Nov. 19th 2014
Overall it is encouraging to see 3 strong months in a row bring us into positive territory for the year. The market has felt better for most of the year to those of us in the business and now the numbers are starting to reflect it. Pending sales, which represent properties under contract, were very strong in August, September, and October with a little but not much of a pull back in November to reflect the off season. The number of pending sales has varied between 160 to about 194 properties which makes me believe November and December will be strong months for closed sales too.
Inventory levels are coming down in more parts of the market. Once they get to healthy levels in each part of the market, prices begin to increase. This transition and the ability to sell their current property has made people more comfortable moving forward to realize their goals. I expect this to continue into winter from my conversations with clients and other brokers. If you are considering selling there are several parts of the market with limited inventory. This is helping values and presents an opportunity for people that enter the market before more competition comes on the market in the spring.
If you are interested in learning more about the various aspects of the Steamboat Real Estate Market, what is happening with a specific property or are curious how your home is faring just give us a call at 970-879-0879.