On the Market: Catamount subdivision quiet in 2008, prices up


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.

Catamount subdivision quiet in 2008, prices up

— Properties in the exclusive Lake Catamount subdivision didn't turn over in 2008 at nearly the pace they did in 2007, but that didn't hurt the average price.

Catamount saw 17 transactions with an aggregate value of $38 million during the record Steamboat real estate year of 2007. The average transaction price was $2.23 million, and the median was $1.36 million.

Unit volume at Catamount dipped to just three transactions in 2008. They combined to top $7.1 million. The average price was $2.37 million.

The more bucolic Strawberry Park/Elk River area saw a decline in volume, as well, but still accounted for $56.27 million in sales in 2008 when there were 161 transactions. The average price was $2 million, increasing from $1.66 million in 2007. The 27 transactions generated a notable increase in the median price, possibly because lower-priced properties in the upper Elk River Valley disappeared. The median price went from $877,500 in '07 to $1.47 million in '08.

Marabou home to use local beetle-kill wood

Jim and Cynthia DeFrancia have entered the sketch plan process of design review at Marabou ranch preservation subdivision west of Steamboat.

Jim DeFrancia told other Marabou owners recently that they intend to move from Aspen and make Steamboat their full-time residence when the 8,000-square-foot home is complete.

The house is being designed by Naka Designs, of Denver, and lead architects Robert Fitzgerald and Caleb Tobin. Fitzgerald designed all of Marabou's amenity buildings.

The DeFrancia home will far exceed Marabou's sustainability standards with significant amount of the trim, columns and siding coming from local beetle-kill lodgepole pine.

"It is time we utilized this vast resource in home construction here in the mountains," Fitzgerald said. "It is a beautiful, durable wood product."


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