Walton Village condos see increases in sales, prices

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— Sales and prices of condos in Walton Village carried momentum from fall 2013 into 2014.

The condos, which largely were built in the late-1970s, have been entry-level units in Steamboat Springs for decades.

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After hitting prices well over $200,000 during the real estate boom, distressed units in the development sold for less than $70,000 in the following few years.

More recently, the development has seen an uptick in prices as the distressed units have been taken off the market and renovated units are making their way back into the inventory.

A top-floor, corner unit, which is the most sought-after type in the development, sold for $98,000 in July 2013. In January, a similarly-situated unit that was nicely renovated sold for $117,000.

Since September, six units have sold in Walton Village, with prices increasing during that time.

Steamboat Realtor Glenna Clark-Olmsted currently is listing a lower-level, inside unit in Walton Village for $97,000.

“The nature of that particular price range is that we’re getting a lot of showings,” Clark-Olmsted said Monday.

In Walton Village, the location of the unit in the building can have a big effect on the price, she said, and a number of the recent sales in the development have been on the upper floor.

“I definitely think they’re going to continue to climb,” Clark-Olmsted said about prices at Walton Village, adding that the development is among the most affordable in Steamboat.

“I think they’re just slowly coming on (the market) as people see prices going up,” she said.

Lee Findell, of Colorado Group Realty, has a lower-level, corner unit in Walton Village listed for $119,000 and said three showings already are scheduled for this week.

The renovated condo has been on the market for less than two weeks, Findell said, and is starting to get some traction among potential buyers.

“Right now, the market in this entry level is certainly transitioning into a higher price point,” he said. “It can change week to week.”

To reach Michael Schrantz, call 970-871-4206, email mschrantz@SteamboatToday.com or follow him on Twitter @MLSchrantz

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Comments

Scott Wedel 6 months, 3 weeks ago

So where is the paragraph stating why it matters what is happening with pricing at Walton Creek?

If that is supposed to be a general indicator of the "affordable" market then why not look at all of the sales and listings of that price range as compared to one particular development?

And "escalating prices" is a meaningless description because are smaller rundown units selling first and then nicer larger units? If property values are increasing then is it $1 or 20%?

Why do so many of this paper's real estate articles read as if press releases by local realtors?

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John St Pierre 6 months, 3 weeks ago

Scott

All the articles are to create an illusion real or not that the real Estate market is back and you should rush in and buy property before the prices rise.... The Pilot generates a lot of $ from Real estate ad's. Unfortunately most of the "local" community newspapers these days are just advertising vehicles sprinkled with news to keep you interested.

Guess would be too much to have some investigative reporting from time to time... but that would step on the toes of those who advertise in the paper

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Scott Wedel 6 months, 3 weeks ago

John,

Well, the above article isn't merely suggesting "this is a good time to buy", but arguing to hurry up and buy the Walton Pond condo listed by Lee Findell.

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john bailey 6 months, 3 weeks ago

hey , what did happen to that promise of more investigative reporting awhile back? is NW Colorado lacking in crime, corruption and backhanding dealings ?

1

jerry carlton 6 months, 3 weeks ago

Easy solution. Pay to read the Denver Post and quit reading the free paper.

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