Steamboat Springs Focusing on neighborhoods and outlying towns paints a more detailed picture of how the Routt County real estate market performed during the first quarter of 2008.
Dollar and unit volumes were down in most cases, but not across the board. In North Routt, for example, year-to-date unit volume was off dramatically from 26 transactions in 2007 to 12 this year. However, according to statistics compiled by Bruce Carta of Land Title Guarantee Co., dollar volume was up from $4.15 million for the same period in 2007 to $4.49 million for the first quarter of 2008. The 2007 numbers, with a median price of $68,000, probably reflect sales of small lots in close proximity to Steamboat Lake State Park. The median North Routt transaction price in 2008 ballooned to $425,000.
South Routt (exclusive of Stagecoach) bucked countywide trends as the number of transactions grew from six last year to 11 this year. Dollar volume in South Routt grew by 48 percent, from $3.43 million to $5.1 million, according to Carta's figures. In contrast, dollar volume in the Steamboat Springs mountain area declined from $134.9 million in the first quarter of 2007 to $119.4 million this year.
The median transaction value in South Routt grew from $400,000 in 2007 to $472,500 this year.
Stagecoach was a different story, with dollar volume dropping dramatically from $9.08 million in the first quarter of 2007 to $2.85 million through the first three months of this year. Unit volume in the unincorporated area east of Oak Creek slid from 50 transactions to just 15. However, the median transaction price rose from $69,000 to $97,200.
The average transaction price in Stagecoach was relatively unchanged, growing from $181,756 to $189,947.
Hayden and the surrounding area saw dollar volume sliced nearly in half at the same time the number of transactions increased from 47 to 52, a sign that sales of single-family lots held sway during the first quarter of this year. Overall dollar volume dropped from $12.7 million in 2007 to $6.7 million in the first quarter of this year. The median transaction price fell from $189,250 to $76,900.