Prices and sales volume continue to increase in and around Steamboat Springs

Thursday, January 22, 2015

Land Title just released their stats for the month of December for Routt County including Steamboat Springs.

Steamboat Market Report 2014 December 2014 there were $58.17M in gross sales and 121 transactions. Our year ended with just under $600M in Gross Sales and 1,360 transactions for 2014.  That is the highest gross sales volume in Routt County since 2008 besting 2013 by +18.79% in gross sales volume and +6.42% in the number of transactions.  

Average Sales Prices: Single Family +10%, Multi Family +11%, Vacant Land +2%

PPSF/PPAC: Single Family +15%, Multi Family +6%, Vacant +25%

 

 

 

Steamboat mountain area homes median price approaching $800,000

Wednesday, January 7, 2015

Sanctuary log home saleSteamboat Springs real estate sales volume for Routt County in 2014 was over $540 million with single family homes a major contributer. The mountain area (near the ski slopes) had 44 single family home sales and the median price approached $800,000. Out of 50 homes currently listed in the mountain area, only 15 are priced under $1,000,000 as of today’s date.

The Steamboat Pilot reported that 62 homes priced between $1 million and $2 million had sold in Routt County as of the end of November, however, when they say “62 homes”- that statistic must have included multi-family like condos and townhomes. 39 single family homes sold in 2014 between $1 million and $2 million according to data posted to the Steamboat Springs MLS.  Fourteen of the the Buyers were represented by Colorado Group Realty Real Estate Brokers which includes the log home pictured - listed for $1,989,450 and sold for $1,909,500 in July 2014.

 

 

 

 

 

 

Steamboat ski area homes under $800,000 with plenty of room for a large family

Monday, December 30, 2013

Finding great views and plenty of space for a larger family near the ski slopes can be a challenge in Steamboat Springs if you are looking to spend less than $800,000.

Currently there are only 3 townhomes listed for sale with over 3000 Sq.Ft in the mountain area, and if we add private homes to the search, there are 2 as of the date of this Steamboat real estate blog.

Families are drawn to Steamboat Springs and here are just a few reason why as mentioned in Ski Magazine.

Market Guide 2014: Top Family Resorts
West || No. 4: Steamboat, Colo.
“By far my favorite ski resort. Great value. Great snow. Great terrain. Plenty of character in the town and fun things for the family to do. We often went to ‘family jump night’; not to jump, but to watch. Great place to go with a family.”
“Excellent children’s program. Champagne powder. Genuine western hospitality.”
“Fantastic ski school and family ski programs. Amazing powder snow, with almost no lift lines. Friendly atmosphere and helpful people.”

Steamboat real estateOne of the best deals out there for quality construction and nicely appointed features is Eagles Overlook # 104.  Eagles Overlook #102 recently sold - a distress sale.  In April of 2008 #105 sold for $985,000.  #104 listed at $795,000 is one of the lowest prices per Sq.Ft. for a luxury townhouse in Steamboat Springs and HOA dues lower than the competition.

Over 12 Ft. of Snow in Steamboat and its December 28th

Saturday, December 28, 2013

Photo courtesy of Steamboat Ski Resort - I’d post my own photo but the camera lens was plastered with Pow. Come visit and look me up at the base of mountain next to the Sheraton Hotel entrance. Specializing in Ski-in Condos!

Go Billy.

Ski in to Poolside at Edgemont in Steamboat Springs

Thursday, September 13, 2012

Edgemont put my family up for a weekend in one of the 3 bedroom condos this summer and they didn’t want to leave. Now I have a problem since the bar is raised so high, the guest bed in our house just isn’t going to cut it anymore for grandma. Steamboat weather was perfect and we had the place to ourselves. There isn’t another new luxury condo development that offers the views and solitude Edgemont condominiums offer - especially in the summer in Steamboat Springs.
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April 6th, 2011, Edgemont’s construction loan was paid in full due to strong sales activity over the 2011 winter season with 11 Residences sold. The 2012 season, 3 more units sold with a 5 bedroom, 4-1/2 bath closing at $2,875,000 = $775/Sq.Ft. The Ridge collection featuring 5 bedroom units is sold out.

So how is the market in Steamboat? Edgemont isn’t the only luxury condo development selling, One Steamboat Place sold $46,000,000 in inventory since they restructured their debt a year ago August. In the 1st half of 2012 there were $57,546,517 in sales of condominiums and townhomes in the mountain area close to the Steamboat’s ski slopes.
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Since Edgemont is the only option for new construction and luxury finishes in a 2 bedroom condo, the rentals are good.

2011-12 Ski Season for 2 bedroom slopeside condo.

Owner’s Use 3 Reservations 20 Nights $15,795.00 Gross
Rentals 13 Reservations 73 Nights $50,263.75 Gross

Nightly Rates 2012-13

Early/Late Season $ 620
Holiday $1525
Regular $1095
Early Holiday $1250
Value $ 860
HOA cost on a 2 bedroom with slope side views such as unit 2603 rentals above are $14,529/year.
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Only a 1 bedroom condo is left and priced at $550,000, Five - 2 bedroom condos from $895,000, five 3 bedroom condos from $1,195,000 and a 3 bedroom + den that looks over the Flattops and South Valley at $1,995,000 - This is reduced from the original pre-construction price of $2,709,000. Out of the remaining inventory, only 3 units are left facing the ski slopes. Personally, I prefer the South Valley views because in the winter, you have sun on your deck apres ski.
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See the price list here or call Dean in Steamboat for more information 970-846-8284.
Based on the recent trend of sales, this could be the last season to grab the best pricing at Edgemont ski-in ski-out condominiums.
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Bring the kids!

Steamboat Springs / Routt County June 2012 Real Esate Statistics

Tuesday, July 24, 2012

June was an amazing month, the best in a long time! There were 109 transactions totaling $65.4 million in sales, with one big sale of $14 million. Even discounting the $14 million sale, the month was way up!

While transaction numbers are still off, there are some good signals for the average price and price per square feet. A notable situation is the lack of Interval Sales, there were only 3.

One of the other factors that really contributed to the sales volume in June was the sell-off of the Trailhead Lodge units. There were 16 units with a gross volume of $7,057,800. Average price per square foot was $368.97.

There were a total of 30 Bank Sales (16 Trailhead Lodge) and 14 in other areas of the county.

The highest priced sale was for a ranch property in the Yampa/Toponas area for $14 million. Although there are 4 residential units on this large acreage property, the value is probably more oriented towards the land size.

Discounts and Incentives Offer Real Estate Deals for Buyers in Steamboat Springs, CO

Sunday, February 19, 2012

Buyers looking for high-end, luxury condominiums in Steamboat Springs are in a great position to find some deals. A recent surge of price reductions and developer incentives has increased interest in some of the best properties on the market. Demand is still lagging supply, however there have been 16 sales over $800,000 for condos and townhomes in the downtown and mountain areas since November 2011, and our busiest selling season is just beginning.

The relative abundance of luxury real estate has sellers competing for buyers to keep this recent condo buying trend in motion. For example, the developers of the ski-in/ski-out luxury condos at Edgemont are offering to pay three years of HOA dues on the next sale of any of the 13 remaining condos. They are also offering two years of paid HOA dues estimated at $22,000 annually for the next phase of to-be-built four and five bedroom townhomes. And while the townhomes are being built, they will provide use of Edgemont Ridge condos for up to two weeks in both the winter and summer seasons!

Two other properties, Cimmaron Townhomes across the street from the Steamboat Ski Area, and Norwegian Log, an older ski-in/ski-out are also offering a price reduction.

Bear Lodge at Trappeur’s Crossing is offering 25% off the next sale of their remaining new 3 or 4 bedroom luxury condominiums located one block from the base of the Steamboat Ski Resort. The offer also includes paid HOA dues for 3 years.
Recently discounted pricing makes these high-end condos an attractive deal for anyone looking for resort properties. Listing prices are less than $500 per square foot.

Newly constructed Trailhead Lodge at Wildhorse Meadows slashed prices of its fully-furnished condos up to 50% off the original listings with prices now in the mid-$400 per square foot range.

Deals don’t stop at the ski area. In downtown Steamboat Springs condos in the newly constructed Howelsen Place and Alpenglow Lofts have incentives also. Up to 25% off at Howelsen Place and 35% at Alpenglow on the next two sales at each property.

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December stats for Steamboat Springs Real Estate / Routt County

Friday, January 20, 2012

Thank you to Stan Urban with Steamboat’s Land Title Company for the following real estate sales information.

December was a good month for Steamboat Springs real estate in Routt county with $47M in gross volume from 136 transactions, making it the third strongest in volume of the year and coming in +72% higher than last December in number of transactions. Luxury properties and large commercial purchase contributed to the strong December numbers.

All in all, it’s still a bit of a mixed bag. Our year-end Gross Dollar Volume of $450M, was slightly off 2010 (-12.01%) with transactions showing a slightly heavier decline of (-23.06%). There has been a high number of Fractional Sales we have had over the past 3 years.

Bank sales continue to be a factor with 18 this month.

Loans were up – with a total of 170 recorded for December, making December the highest transaction loan month this year.

Highest PPSF for December 2011:

12/30/2011: $2,825,000 Edgemont ski-in/ski-out Condo Unit 2803 aka 2410 Ski Trail Lane, #2803 – 5 Bedroom 5 Bath YOC 2009 with 3,642 SF Living Area. PPSF is $775.67. This is a new construction sale on Steamboat Mountain.

Highest Priced Sale for December 2011:

12/29/2011: $4,500,000 City South Subdivision Lot 1, Mid Valley Business Center #2 Lot 2, M&B: Sec 20-6-84 – 3 Commercial Parcels: All Vacant Commercially zoned, with a combined land size of 14.52 AC. This property is located at 1440 Pine Grove Road. PPAC is $309,917. This was a Bank Sale.

Other sales over $1.4M:

12/28/2011 $2,050,000 Sanctuary Subdivision #5 Lot 132 Re-plat aka 3050 Clearwater Trail - 4 Bedroom 4.5 Bath YOC 2006 with 5,808 SF Living Area on 1.48 AC Land. PPSF is $352.96.

12/14/2011: $1,425,000 Big Valley Ranch at Steamboat Subdivision #2A Lot 25 aka 28880 Skyline Drive – 3 Bedroom 3.5 Bath YOC 1992 with 4,636 SF Living Area on 36.10 AC Land. PPSF is $307.38

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