On the Market
Tom Ross' On the Market column appears Sundays in the Real Estate section of the Steamboat Pilot & Today. Contact him at 871-4205 or e-mail tross@SteamboatToday.com
Average home price closes in on $1 million
The average price of a single-family home here increased to within $25,000 of $1 million during the first two months of 2008.
Land Title Guarantee Co. reported that Routt County and Steamboat Springs ranked third among five nearby counties affected by the resort economy.
The average single-family home price here was $975,418 during the first two months of the year. That compares to $907,835 in 2007.
Pitkin County and Aspen led the pack at $4.32 million, down from $4.64 in 2007.
Garfield County and Glenwood Springs were the most affordable at $534,294. However, that number had increased by 17 percent from the first two months of 2007.
Summit County also saw a substantial percentage increase in single-family home prices, up from $798,889 in 2007 to $893,026 this year. That's nearly a 12 percent jump.
The average price of a single-family home in Eagle County was $1.57 million compared to $1.42 million for the same period in 2007.
Five ski counties see dollar volume drop
Real estate dollar volume was down across Colorado ski country during the first two months of 2008, but in some cases still substantially stronger than the first two months of 2006.
Eagle County recorded $124.25 million in sales in January and $207.08 million in February. Those numbers compared to $173.4 million and $253 million in 2007.
Eagle County's February numbers was stronger than 2006, when the market did $149.7 million, but those didn't rise to the level of January 2006, when the market did $138.3 million.
Routt County was down from the record numbers of January and February 2007, but it was still notably higher than 2006.
Land Title Guarantee Co. reports that Routt County saw gross dollar volume of $85.5 million in January of this year and $59.8 million in February. Those figures compare to $100.38 million in January 2007 and $74.8 million in February.