Post on 07-Sep-2018
STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY2017 MARKET REPORT
MAIN OFF ICE 970.879.8100 | MOUNTAIN 970.879.7800 | DOWNTOWN 970.870.8885 | STEAMBOATS IR .COM
Data Excludes Timeshares, Fractionals, Land & Commercial
970.879.8100 | STEAMBOATSIR.COM
TOTAL $ VOLUME
2015
2016
2017 $716,814,922
$617,907,780
$529,517,380
TOTAL UNITS SOLD
2015
2016
2017 1,373
1,193
1,074
$1.1B
$1.0B
$900M
$800M
$700M
$600M
$500M
$400M
$300M
$200M
$100M
$0
2250
2000
1750
1500
1250
1000
750
500
250
0
$ VOLUME
UNITS SOLDLISTINGS
PRIC
E R
AN
GE
UN
ITS
SOLD
PER
CEN
T O
F U
NIT
S SO
LD
TOTA
L $
VOLU
ME
981561481201058163422759181279
10%17%16%13%11%9%7%4%3%6%2%1%1%1%
$14,213,050$39,630,218$52,032,630$53,896,183$57,722,744$52,847,220$47,657,225$35,832,451$26,032,900$73,119,142$30,534,360$27,220,000$19,550,000$45,225,000
Less than $200,000$200,001 to $300,000$300,001 to $400,000$400,001 to $500,000$500,001 to $600,000$600,001 to $700,000$700,001 to $800,000$800,001 to $900,000$900,001 to $1,000,000$1,000,001 to $1,500,000$1,500,001 to $2,000,000$2,000,001 to $2,500,000$2,500,001 to $3,000,000Over $3,000,000
$ VOLU
ME
LIST
ING
S / U
NIT
S SO
LD
156
98
148
105
9
27
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
42
7 1812
120
81
63
59
UP, UP AND AWAY! 2017 MARKET REWIND
One of the most notable trends of 2017 compared to 2016 was the total number of closed transactions, which went up 15%, from 1,193 to 1,373. Total dollar volume was at nearly $717M, up 11% over 2016. Double digit growth in both number of transactions and total dollar volume in a single year is compelling for Steamboat’s diverse market because it shows a positive trend across the board.
Listing inventory declined 20% from 2016, the seventh straight drop in the market year-over-year. This supply/demand scenario is generally indicative of modest price increases continuing in the near future. In 2017, the median sales price for residential properties increased
13% compared to 2016, from $377K to $425K. The average residential sale price in Steamboat in 2017 was $609K—lower than that of its neighboring western resort communities.
The market has been improving at a consistent rate since 2008, and while interest rates are creeping up, they do not typically have as drastic an impact on resort markets as in urban markets. Steamboat is finally seeing the emergence of new multi-family developments for the first time in almost a decade, with a handful of new projects set to break ground in 2018. Expect to see the market trends of 2017 continue throughout 2018, with increased activity in the luxury and land segments of the market.
ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLDSingle Family Homes, Townhomes and Condominiums
REAL ESTATE SNAPSHOT – PAST 19 YEARSNumber of Listings, Units Sold and Dollar Volume
Information provided by Steamboat Springs MLS
970.879.8100 | STEAMBOATSIR.COM
MED
IAN
PR
ICE
MED
IAN
PR
ICEU
NIT
S SOLD
UN
ITS SO
LD
SURROUNDING COMMUNITIES – Single Family Homes, Townhomes and CondominiumsMedian Price Sold, Units Sold and Average Days on Market
MED
IAN
PR
ICE U
NIT
S SOLD
Median Price Sold Units Sold Median Price Sold Units SoldMedian Price Sold Units Sold
HAYDEN
2015 2016 2017
83 58145
NORTH ROUTT
60
50
40
30
20
10
0
60
50
40
30
20
10
0
60
50
40
30
20
10
0
$500K
$400K
$300K
$200K
$100K
$0
$500K
$400K
$300K
$200K
$100K
$0
$500K
$400K
$300K
$200K
$100K
$0
2015 2016 2017
276 144 207
STAGECOACH
2015 2016 2017
83 107103
AVG DAYS ON MKT
AVG DAYS ON MKT
AVG DAYS ON MKT
AVG DAYS ON MKT
AVG DAYS ON MKT
AVG DAYS ON MKT
AVG DAYS ON MKT
200
175
150
125
100
75
50
25
0
UN
ITS SO
LDMedian Price Sold Units Sold
MED
IAN
PR
ICE
SOLD
S INGLE FAMILY HOMES
2012
2013
2014
2015
2016
2017
200
150
100
50
0
$600K
$500K
$400K
$300K
$200K
$100K
$0
$900K$800K$700K$600K$500K$400K$300K$200K$100K
$0
UN
ITS SO
LD
Median Price Sold Units SoldM
EDIA
N P
RIC
E SO
LD
TOWNHOMES
2012
2013
2014
2015
2016
2017
500
400
300
200
100
0
$500K
$400K
$300K
$200K
$100K
$0
UN
ITS SO
LD
Median Price Sold Units Sold
MED
IAN
PR
ICE
SOLD
CONDOMINIUMS
2012
2013
2014
2015
2016
2017
70
60
50
40
30
20
10
0
$500K
$400K
$300K
$200K
$100K
$0
UN
ITS SO
LD
Median Price Sold Units Sold
MED
IAN
PR
ICE
SOLD
LAND
2012
2013
2014
2015
2016
2017
102 88136180
129148173159 337466420323
113 84117135152 118
155 172 228 216
169 140
$550
K
$550
K
$628
K
$711
K
$818
K
$818
K
$250
K
$256
K
$280
K
$305
K
$325
K
$370
K
$409
K
$418
K
$483
K
$223
K
$235
K
$263
K
$300
K
$247
K
$363
K
$410
K
$456
K
$484
K
$520
K
$495
K
$582
K
STEAMBOAT SPRINGS – Downtown, Fish Creek and Mountain AreasMedian Price Sold, Units Sold and Average Days on Market
$310
K
$202
K
$346
K
$364
K
$278
K
$250
K
Information provided by Steamboat Springs MLS
970.879.8100 | STEAMBOATSIR.COM
Above information provided by Steamboat Springs MLS
STEAMBOAT COMPARED TO OTHER RESORTSAverage Sold Price and Units Sold
Above information provided by individual Rocky Mountain MLS areas where a Sotheby’s International Realty office exists.
Age
ncy
B
Age
ncy
C
Age
ncy
D
Age
ncy
E
Age
ncy
B
Age
ncy
C
Age
ncy
D
Age
ncy
E
45%
40%
35%
30%
25%
20%
15%
10%
5%
0%
1000
900
800
700
600
500
400
300
200
100
0
UNITS SOLD IN 2017% VOLUME SOLD IN 2017
$1,600,000
$1,400,000
$1,200,000
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
2000
1750
1500
1250
1000
750
500
250
0
CONDOMINIUMS, TOWNHOMES & SINGLE FAMILY HOMES
UN
ITS SO
LD
Average Price Sold Units Sold
AV
ERA
GE
PR
ICE
SO
LD
Asp
en
Tellu
ride
Jack
son
Hol
e
Lake
Tah
oe
Vail V
alle
y
Park
City
Big
Sky
Ste
amboat
Sum
mit
Cty
Cre
sted
But
te
Sun
Valle
y
$4.33M $1.36M $1.40M $1.50M $1.13M $1.16M $814K $609K $700K $684K $682K
MARKET SHARE 2017Top 5 Real Estate Agencies in Steamboat
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