Walton Village condos see increases in sales, prices
February 3, 2014
Steamboat Springs — 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.
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."