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Steamboat Springs — Buyers drive the real estate market, and broker associate Susan Wilson believes buyers interested in the $1 million-plus market are returning to the Yampa Valley.

In January alone, three prospective buyers bid on a $2.7 million speculative home in Dakota Ridge, supporting the belief that the economy is slowly starting to stabilize and the American public is ready to resume investing after the attacks of Sept. 11, 2001, and the war in Iraq.

"In our office, we feel consumer confidence is starting to come back," said Mitch Clementson, owner/broker at Steamboat Real Estate.

Regardless of a home's price, prospective buyers want to be sure they are getting the most for their money and settling in a place where their families can find happiness.

Real estate, particularly in the Yampa Valley, has proven to be a wise investment, Peggy Wolfe said.

Wolfe and Wilson work for Colorado Group Realty. On June 19, they put together a tour of four homes priced from $1.3 to $2.7 million in the Dakota Ridge neighborhood. The tour was met with positive results and subsequent showings.

Real estate agents can't predict the upcoming year's high-end market, but they are hopeful buyers continue to find the area, land and value of their investment attractive when purchasing a home, condo or townhome valued at more than $1 million.

"There is more interest with people coming into the area and looking at homes in this price range," Wolfe said. "We're starting to see more buyers. Sometimes the market is flat, but that doesn't detract from the value and confidence people have in purchasing real estate."

As of June 20, there were 101 listings for single-family homes priced at $1 million or more, including speculative homes that have yet to be completed, according to the Multiple Listing Service provided by member agencies in Routt County.

There also were 103 residential lots left in the Yampa Valley area priced high enough that the combination of the land plus the home would bring the value of the property to at least $1 million.

The farther from Steamboat's city limits a prospective buyers wants to go, the larger the lots will be in general, but prospective home buyers or home builders usually will be responsible for infrastructure and costs such as digging a well and maintaining their water supply.

In the $1 million-plus range, however, most people moving to the area have an additional home elsewhere, Wilson said. While those buyers want the most for their money, they have the wherewithal to invest large sums in a home whether it's their primary residence or second home.

High-end homebuyers more than likely have looked at other mountain towns in Colorado before selecting Steamboat.

However, agents in town aren't interested in comparing Steamboat to Aspen or Vail as a place to live, because Steamboat is so different from those places, Clementson said. Lynne Russell, originally from Houston before moving her with her husband full-time one year ago, echoed Clementson's beliefs.

"We looked in Aspen and Snowmass," she said. "You get more for your money here. It's been a wonderful experience living here. You feel more at home here than anywhere else."

Clementson attributed Steamboat's appeal to the serenity of the area and the graciousness of the people.

"We were a town before a ski mountain," he said. "We've maintained that western quality of life even if the ski area doesn't push it as much as they used to. We have good restaurants, arts and culture."

Ultimately, people interested in investing in high-end homes in the Yampa Valley are interested in culture, fine dining and views unparalleled many other places in Colorado, he said.