September dollar volume off $15 million from 2010 in Routt County real estate market

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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.

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— Stan Urban, of Land Title Guarantee Co., reported this week that September dollar volume in the Routt County real estate market was $35,317,000, making it the fifth-lowest month of the year despite transaction volume that was the second highest of the year at 140 sales.

One transaction, the sale of a home in Dakota Ridge for $3.9 million, represented more than 10 percent of dollar volume for the entire month.

The decline in dollar volume represents a drop of 30 percent from September 2010 and comes on the heels of August volume that was on par with 2010.

Still, last month’s dollar volume compared favorably with September 2009, when it was $27.2 million. Total dollar volume for 2009 was $439.7 million, the lowest in six years going back to 2004. Dollar volume in 2010 bounced back to $512 million. Year-to-date dollar volume stands at $331.2 million.

Through the first three quarters of the year, Routt County has seen two months, May (25.4 percent) and June (11.4 percent), that were up from 2010. August was flat with a 0.4 percent increase.

Sales of bank-owned property remained steady at 18 this month, Urban said.

Hayden saw relatively strong activity in terms of unit volume with eight transactions for a combined $2.49 million. Year to date, Hayden and the surrounding area have seen $27.9 million spread among 62 sales.

That compares to Steamboat’s downtown area with 55 sales year to date with a dollar total of $25.5 million. Downtown Steamboat saw seven transactions in September for a combined $3.9 million.

Oak Creek and Phippsburg were quiet last month with three sales totaling $282,600. That brings the year’s total through September to $22 million on 32 sales.

Of all sales of homes thus far in 2011, 199 have sold for less than $300,000. There have been 56 sales of homes for $1 million or more. Seventeen homes have sold for $2 million or more. Gross dollar volume on residential properties reached $222 million through September.

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