Villas at Walton Creek selling close to asking prices
September 30, 2017
STEAMBOAT SPRINGS — One of the most in-demand, mature neighborhoods in the Steamboat Springs real estate market this summer and fall has been the modestly priced Villas at Walton Creek where the nine buyers since June 1 have virtually paid the asking price for the rare combination of a livable condominium with an attached garage.
"The sale-to-list price is extremely high on these sales at 98.4 percent, a few points higher than the overall market," Martin Dragnev of Colorado Group Realty said this week. "They're also selling quickly — from list date to contract signing the average is only 27 days on the market. That's extremely fast when you consider that includes the time needed for negotiations."
Steamboat Today reported in the first week in September that a 1,053-square-foot two-bedroom Villas home sold for $389,500. That compares to a sale price of $351,000 in 2006 for a three-bedroom condo in the same neighborhood.
That compares to a three-bedroom Villas at Walton Creek condo that sold for $220,000, when it was new, and a two-bedroom unit that sold for $177,000 in 2002.
Ryan Cox of Steamboat Sotheby's International Realty said a Villas condo he had listed this summer sold to a longtime local couple who fit into a trend of retirement age people seeking to downsize in the Yampa Valley to spend part of the year elsewhere.
"And that's another component the Villas has," Cox said. "They allow nightly rentals," a capability that appeals to residents who tend to come and go from their Steamboat residence.
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But it's the added comfort of not having to walk across a snowy parking lot to get from the front door of the home to the family car, that makes the Villas stand out in the condo market, Cox said.
Lani Holmberg, a member of The Prestige Team at Steamboat Sotheby's, said another appealing feature of the Villas is the well-kept lawns that wind throughout the neighborhood and include several hot tubs, and a barbecue area with picnic tables.
Holmberg also listed a Villas unit with a local couple that was retiring, and she and teammates Lori Thompson and Annamarie Shunny helped the sale along by ensuring it had new floor coverings and a fresh coat of paint.
Dragnev said he is working with the sellers of the only Villas home on the market this month, and it attracted two offers within the first two days on the market.
"The Villas appeal to a wide pool of buyers because they are suitable for both year-round residents as well as investors, he said.