STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY 2017 MARKET REPORT
MAIN OFFICE
970.879.8100
| M O U N TA I N
970.879.7800
| D OW N TOW N
970.870.8885
| S T E A M B OAT S I R . C O M
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.
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.
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
REAL ESTATE SNAPSHOT – PAST 19 YEARS Number of Listings, Units Sold and Dollar Volume
TOTAL $ VOLUME 2250
LISTINGS
UNITS SOLD
2015
$1.0B
$ VOLUME
2000
$900M
1750
2016
$800M
1500
$700M
1250
$600M
1000
$500M $400M
750
$ VOLUME
$300M
500
$200M
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
$0
2002
0
2001
$100M 2000
250 1999
LISTINGS / UNITS SOLD
$1.1B
$529,517,380 $617,907,780
2017 $716,814,922
TOTAL UNITS SOLD 2015 1,074 2016 1,193 2017
1,373
ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLD Single Family Homes, Townhomes and Condominiums
970.879.8100 |
ST EAM B OAT S I R .C OM
10% 17% 16% 13% 11% 9% 7% 4% 3% 6% 2% 1% 1% 1%
TOTAL $ VOLUME
98 156 148 120 105 81 63 42 27 59 18 12 7 9
PERCENT OF UNITS SOLD
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 $3,000,000 Over $3,000,000
UNITS SOLD
PRICE RANGE
98 $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
971218
59 27 42
156 63
81 148 105 120 Data Excludes Timeshares, Fractionals, Land & Commercial
Information provided by Steamboat Springs MLS
STEAMBOAT SPRINGS – Downtown, Fish Creek and Mountain Areas
$495K
$582K 2017
2015
84
2016
$484K 2014
$520K
$456K 2013
113
70 60
$400K
50
$0 AVG DAYS ON MKT
$250K
0
420
466
337 2017
$100K
$278K
30
2016
$200K
$364K
40
228
216
323
2015
$300K
$346K
100
0
Units Sold
LAND
Units Sold
Median Price Sold
117
2014
129
135
$202K
$370K
148
2017
2015
$325K
$280K 2014
173
2016
$256K 2013
$305K
$250K 2012
200
159
140
50
20
UNITS SOLD
$200K
MEDIAN PRICE SOLD
$500K
300
172
169
2013
500
155
$410K
$100K
2012
$200K
$310K
CONDOMINIUMS
UNITS SOLD
MEDIAN PRICE SOLD
100
$300K
Median Price Sold
$300K
$0
150
$400K
$0
400
AVG DAYS ON MKT
200
$500K
AVG DAYS ON MKT
$400K
$100K
TOWNHOMES
Units Sold
Median Price Sold $500K
$600K
2012
88
200 175 150 125 100 75 50 25 0
MEDIAN PRICE SOLD
$818K
136
2017
2015
$818K
$628K 102 2014
180
2016
$550K 118 2013
$711K
$550K 152 2012
AVG DAYS ON MKT
SINGLE FAMILY HOMES
UNITS SOLD
$900K $800K $700K $600K $500K $400K $300K $200K $100K $0
UNITS SOLD
MEDIAN PRICE SOLD
Median Price Sold, Units Sold and Average Days on Market
10 0
Units Sold
Median Price Sold
SURROUNDING COMMUNITIES – Single Family Homes, Townhomes and Condominiums Median Price Sold, Units Sold and Average Days on Market HAYDEN
STAGECOACH $500K
60
$400K
50
$400K
50
$400K
50
207
2015
2016
2017
Median Price Sold
0
Units Sold
Information provided by Steamboat Springs MLS
$100K $0
AVG DAYS ON MKT
145
83
58
2015
2016
2017
Median Price Sold
20 10 0
Units Sold
$100K $0
AVG DAYS ON MKT
$363K
144
10
30
$200K
$247K
$483K
276
20
40
$300K
$300K
$418K
$0 AVG DAYS ON MKT
$409K
$100K
30
$200K
$263K
30
$200K
$300K
$235K
$300K
40
$223K
40
MEDIAN PRICE
60
MEDIAN PRICE
$500K
103
83
107
2015
2016
2017
Median Price Sold
970.879.8100 |
20 10
UNITS SOLD
60
UNITS SOLD
$500K
UNITS SOLD
MEDIAN PRICE
NORTH ROUTT
0
Units Sold
S T E A MBOATS IR. C O M
ST EAMBOAT COM PA RE D TO OT H E R R E S O RT S Average Sold Price and Units Sold
$1,600,000
2000
$1,400,000
1750
$1,200,000
1500
$1,000,000
1250
$800,000
1000
$600,000
750
$400,000
500 250 $1.50M
$1.13M
$1.16M
$814K
$609K
$700K
Jackson Hole
Lake Tahoe
Vail Valley
Park City
Big Sky
Steamboat
Summit Cty
$684K
$682K
Sun Valley
$1.40M
Crested Butte
$1.36M
Telluride
$0
$4.33M
Aspen
$200,000
0
Units Sold
Average Price Sold
Above information provided by individual Rocky Mountain MLS areas where a Sotheby’s International Realty office exists.
NOW 3 L O C AT IO NS Steamboat Sotheby’s now has three locations to serve clients’ needs.
M A RKET SHA RE 2 0 1 7 Top 5 Real Estate Agencies in Steamboat
% VOLUME SOLD IN 2017
UNITS SOLD IN 2017
45%
1000
40%
900
35%
800
Main Office 6 1 0 M A R K E T P L ACE PL Z
700
30%
600
25%
500
20%
400
15%
300
Agency E
Agency D
1 8 5 5 S K I T I M E S Q UARE DR
Agency C
0
Mountain
Agency B
0% Agency E
100 Agency D
5% Agency C
200
Agency B
10%
Above information provided by Steamboat Springs MLS
Downtown 970.879.8100 |
ST EAM B OAT S I R .C OM
5 6 N I N T H S T REET
UNITS SOLD
AVERAGE PRICE SOLD
CONDOMINIUMS, TOWNHOMES & SINGLE FAMILY HOMES