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
Pending sales increase to 113 as of April 27
Steamboat Springs Realtor Darrin Fryer, of Prudential Steamboat Realty, reports that the number of pending sales - property under contract - has surpassed 110.
"There have been declining pending sales here in Routt County for over one year now, and then we bottomed at an average of 90 pending sales for the past three to four months," Fryer said.
The trend has seen a modest reversal in the first three weeks of April as the number of pending sales increased to 113 as of April 27.
Fryer hopes the trend is a signal that downward price pressure the market has undergone for the past 18 months will be reduced.
Highlights, he says, are two single-family home sales in Tree Haus and a Porches unit that was listed for about $2.63 million.
Fryer has more information at www.steamboatsrealestatedeals.com.
March dollar volume less than $20 million
The total Routt County real estate dollar volume in March was $19.9 million, just 38 percent of last year's number, said Bruce Carta, of Land Title Guarantee Co.
Looking for the bright side? At least on percentage basis, March volume was stronger than in January and February.
The $23.7 million in sales that closed in January was 29.4 percent of the $80.7 million that closed in January 2008. And February's $12 million was a slim 20.2 percent of activity during the same month last year.
Ready for this? March dollar volume in the record year of 2007 was $186.5 million, and May 2007 brought a whopping $205.5 million.
Homebuyers active at less than $500,000
There were 16 sales of residential units in Routt County during March, and a half dozen of them were in the $300,000 to $500,000 price range.
The 16 home sales in March had an aggregate value of $9.7 million. There were two sales above $1 million but none above $2 million.