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February was one of the best months I have experienced in Steamboat Springs. It started with the week-long 100th Annual Winter Carnival, which included various ski races, flash mobs (see picture below), snow sculptures, a biathlon, ski jumping, a torchlight parade, fireworks and famous Diamond Hitch Parade.
The middle of the month included several double-digit powder days and a Valentine's Day fireworks display.
The month is ending with another good snowfall total. Steamboat's average total of snow for the year is 349 inches, we're at 261 inches for the season with two months left and the weather report for today includes a chance of snow at 100%. Oh...and I had a client close on a condo for $367,500 with their lender's appraiser valuing it at $460,000!
Website Statistics are Now Updated
See what's happening in the Steamboat Springs real estate market in an easy
and quick glance!
I just updated my website with several of the graphs I use to track the market.
You can answer a number of questions from visiting my site, including:
To find out answers to these questions, as well as answers to your own questions, click here
This is undoubtedly the most comprehensive market information on the web, and it is only available to my clients.
Also, if you have any particular questions that cannot be answered here, please email me and I'd be happy to find it!
Sign of the Times to Come?
I received an email from an Exclusive Buyer's Broker from Boulder today informing me that she had a client who placed an offer on a home in Fort Collins, CO and they were competing with 23 other offers. They did not get it, and the winning buyer was $11,000 over list price.
Who knows if that type of market will come uphill to Steamboat Springs, but our market is certainly improving, and we are only sitting with 1,632 listings today. Between 2008 - 2012 the Steamboat Springs MLS averaged 1,989 listings. We're down 18%.
In an interview with Steamboat Pilot & Today real estate editor Tom Ross last Friday, part of our discussion was my findings from the following graph, which represents, on a quarterly basis, how listings have consistently been coming down since 2010 QII (pink line) and purchases have steadily increased since 2009 QI (blue line).
History can repeat itself in markets, and should these trends continue, a supply decrease and demand increase will only increase prices, as shown when comparing the Quarterly Listings and Sales (supply/demand graph) above with the following Average Purchase Price graph.
The good news for buyers is there is a lag time from supply/demand activity and price adjustments, but not much.
The bad news for buyers is not only have general listings dropped in numbers, but the number of QUALITY listings have dropped, too. It took me longer than usual to select my Best Buy picks...
Best Buys on the Market
There are currently 1,632 properties listed for sale in the Steamboat Springs MLS. The following are my personal picks. Please remember I do not list properties for sale. I am an exclusive buyer's broker. These properties have to earn their place on my Best Buy list. Please give me a call and I'd be happy to further discuss their merits and how these properties deserve to be included in this elite group. Together, we can develop an offer strategy to make one of them your Steamboat home.
Virtual tours are available for many of these properties,
so email me and I'd be happy to send you the link.
If I had $1m to Invest in Steamboat, This Would be the Property I'd Buy
Rarely does a property like this come on the market...let alone at a reasonable market rate price. Located right next to the Christie PeakExpress lift, this slopeside 4br/3ba, 2,750 sf townhome has all the room a large family of skiers needs. Priced at only $361/sf, neighboring condominiums are being purchased at $862/sf. Just reduced AGAIN, now $995k.
Top Floor 3 BR Timber Run Condo!
Spacious 3br/2ba condo only a few blocks from the ski area. Very functional floor plan with vaulted ceilings, master bedroom on main level and two upstairs bedrooms. There is a unique, large lock off space suitable for a variety of uses; ski tuning, laundry room, private hot tub, etc. Complex offers year 'round swimming pool, hot tubs, BBQ area, shuttles to mountain and town. Last 3BR sold for $290,000. This is now offered at only $257,500 and it is fully furnished!
Spectacular Stagecoach Lot with Pond
Bank owned and priced to sell. Beautiful wooded lot that borders greenbelt with pond. Aspen grove that affords privacy. 5 minutes from Stagecoach reservoir, 25 minutes to the Steamboat Ski Area and close to CR 16 for easy access year round. Over a half-acre with utilities to the lot line. Bank needs to get this sold. Only $17,500!
Walk to the Wildhorse Gondola!
Great home site in ideal location in the heart of the mountain area. Flat and easily buildable with all utilities to lot line, Wildhorse Meadows offers amazing
amenities for owners including access to the Wildhorse Gondola which drops you directly in the heart of Gondola Square, hot tub grottos, pool, athletic
facilities and a neighborhood park. Originally sold for $510,000, now listed at $215,000.
Quality Home in a Quality Steamboat Neighborhood
3br/2.5ba beauty! Premier lot with two sides bordering open space and trail system. The main level open floor plan with wood floors, vaulted t&g ceiling and gas fireplace. The kitchen features GE Profile stainless steel appliances and office/breakfast nook. Spacious main level master suite with walk-in closet, master bath with soaking tub and steam shower. Aspen-filled lot providing some privacy but also Emerald Mountain, Howelsen Hill and Steamboat Ski area views. Just reduced $60k to $725,000.
These are a few of the wonderful opportunities that currently exist in Steamboat Springs. I would be happy to conduct a personal search for you. Please send me an email and you'll have properties to look over within 24 hours.
I am VERY EXCITED to announce that my third edition of The Official Steamboat Springs Buyer's Guide
is going to the printers this week! It has grown to 78 pages and provides my clients with tips that will save time and money
, provide valuable market insight
, along with important buying considerations
when purchasing a Steamboat Springs property.
If you would like a copy, please give me a call, toll free, at 877.970.8885 x101, or send me an email and I'd be happy to send it to you as soon as it gets off the press.
Doug Labor, GRI, RRP, ABR, ABRM, CEBA, e-PRO
Buyer's Resource Real Estate of Steamboat
Exclusively Representing Buyers
Offering 30 years of experience to help you locate the best property that meets your needs. I will assist in negotiating the lowest price and best terms, while looking out for your best interests...at no cost to you!