Steamboat Springs Real Estate Update 2016
Steamboat Springs Real Estate Update
Here are our Top 5 Things to know about the Steamboat Springs Real Estate marketing so far this year:
1. September as a month was up almost 37% overall volume wise vs September 2015 and up 12.99% over the first 3 quarters this year.
2. Sales in units were also strong, up 35% for September and 7.2% over the first 3 quarters.
3. Home and condo sales have been exceeding new listings for several weeks now. In some parts of the market prices are not yet moving higher as excess inventory is consumed but prices are increasing where inventory is tight.
As this trend continues, we we are starting to see a Sellers Market in many segments. With this, we are likely to see upward pressure on pricing.
4. Average Price for single family homes under $1 million dollars in town has increased 13.6%.
The number of units sold has increased 25% and the Days on Market has decreased 13%.
Inventory is getting tight. If you are considering selling your home, now may be a great time to see what it is worth and if conditions are favorable to list.
5. The market has found a good balance so far this year. The demand is driven by people looking for the right place in Steamboat, whether it is their first place here or their needs have changed.
Sellers have been realistic for the most part and those that price thoughtfully are rewarded with a solid selling price and the ability to move on to their next goal.
Have any additional questions for us about the Steamboat Springs Real Estate Market? Please send me an email at [email protected]