Second Home Dreams?
Every one of the beautiful homes that we manage is owned by someone who came to Steamboat on vacation and fell in love with this wonderful place where you can ski beautiful tree-lined runs in the winter and hike or bike our incredible network of trails in the summer.
If owning a second home in Steamboat is a dream you have also nurtured then here’s some insight from our friends at Steamboat Sotheby’s on where the market stands just past the halfway point of 2018.
Real Estate Update: 2018 so far
The market remains very active and sales are continuing at a brisk pace although a little off from the year-to-date pace of 2017. The average price of sold properties has increased slightly from $566,000 in 2017 to $594,000 today, an increase of 5%. The number of sold transactions, however, has dropped 9% and the sold dollar volume has decreased 4%. This drop can be attributed to the lower inventory which is approximately 10% lower at this time of the year than it was in 2017. Last year, there were 1,236 listings and this year, the inventory is down to 1,103, the lowest level that we have seen since 2007.
Without any large projects scheduled for completion over the next year, it is doubtful that this number will change dramatically as the current demand is exceeding the supply. I look for the prices to continue to climb, perhaps slower than they have over the past year as interest rates continue to rise.
Cam Boyd
Broker/Owner
Steamboat Sotheby’s International Realty
What’s on the Market today?
For a sneak peek at some of the exceptional properties available (including some that we already manage that you even can stay in and "try before you buy") visit our real estate page: CLICK HERE
