This Elk River Mountain Ranch home owned by Greg and Mignon Stetman was sold to Donald and Marilyn Spence for $3.5 million along with two other lots in the area.

Courtesy of Cam Boyd / Prudential Steamboat Realty

This Elk River Mountain Ranch home owned by Greg and Mignon Stetman was sold to Donald and Marilyn Spence for $3.5 million along with two other lots in the area.

Elk River Mountain Ranch sees large sales in recent weeks

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— Elk River Mountain Ranch subdivision north of Steamboat Springs on Routt County Road 129 has seen a couple of large sales in recent weeks.

Cam Boyd, of Prudential Steamboat Realty, was the listing agent on a $1.1 million sale and co-listed a property that sold for $3.5 million with Pam Vanatta.

The first sale was a 3,720-square-foot, five-bedroom, 3.5-bath on 35 acres that was owned by Ryan Wood, the co-founder of Under Armour and owner of Sweetwood Cattle Co.

The lot was above part of Wood’s larger Sweetwood Ranch, where the cattle company is based.

Boyd said Wood has moved to Fort Collins and is winding down his presence in Steamboat Springs. Another house Wood owns in Elk River Mountain Ranch is under contract, he said.

“There’s some really attractive prices for homes on 35 acres,” Boyd said about properties in Elk River Mountain Ranch. “It’s a really high-quality 35 acres.”

The area is a mix of luxury homes and equestrian properties, Boyd said. He said that while there are some families in the subdivision, the typical owner probably is an empty nester who wants more space or a few horses.

The more recent sale in Elk River Mountain Ranch was at the luxury end of the scale.

A 7,396-square-foot home with five bedrooms and six baths that belonged to Greg and Mignon Stetman was purchased by Donald and Marilyn Spence for $3.5 million.

The listing had been on and off for quite a while, Boyd said, but there was quite a bit of interest at the end.

Along with the 37-acre lot where the home stands, the Spences also acquired a 38-acre parcel in the subdivision and another 40 acres of land in the area for a total of about 116 acres.

“They did not want to be in a Catamount or anything along those lines,” said Arlene Zopf, of Steamboat Village Brokers, who represented the Spences. “They wanted a lot of land. They wanted to be out on the Elk River.”

The home has extensive custom finishes and a private bridge across the Elk River that can be seen from C.R. 129. Zopf said the Spences knew instantly that it was the right property.

“It’s a phenomenal house,” Zopf said. “It has all that land along the river.”

“We’ve got a few more in that area,” Boyd said about Elk River Mountain Ranch.

“It was real quiet for quite a while,” he said. “In the last year, that segment of a market has picked up a little better.”

“This is the strongest the market has been since 2008,” Zopf said. “It’s in all of the market.

“We’re just seeing a lot more people coming off the sidelines, and the prices are much more reasonable than they were.”

To reach Michael Schrantz, call 970-871-4206 or email mschrantz@SteamboatToday.com

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