Steamboat Sotheby’s reports strengthening real estate market
June 3, 2017
Steamboat Sotheby's International Realty recently compiled data provided by the Steamboat Springs Board of Realtors for the first quarter of 2017, and the statistics confirm what many have been saying – Routt County is experiencing a strong real estate market, especially when compared with the same period in 2016.
For residential sales in Routt County, units sold in the first quarter of 2017 were at 182, up from 115 in the first quarter 2016, marking a 58 percent increase year-over-year. Median sales price jumped from $353,500 in 2016 to $432,500 in 2017, a 22 percent increase.
Steamboat Sotheby's International Realty captured more than 52 percent of the market share for noncommercial property sales in Routt County through the end of the first quarter, representing buyers and sellers across all price points and all types of properties. SSIR participated in 59 percent of sales less than $500,000, 61 percent of the closings from $500K to $1M, 81 percent of the sales from $1M to $2M and 100 percent of the transactions more than $2M.
With the announcement in April of the ski area acquisition by Aspen Skiing Co. and KSL Capital Partners, as well as the announcement in March of a potential merger between Yampa Valley Medical Center with UCHealth hospital system, there is a general feeling of confidence in the Steamboat market.