STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY
2020 MARKET REPORT
MAIN OFFICE
970.879.8100
| M O U N TA I N
970.879.7800
| DOWNTOWN
970.870.8885
| S T E A M B O AT S I R . C O M
2020 YEAR IN REVIEW
Unprecedented and unpredictable. Two adjectives describing the 2020 Steamboat Springs real estate market. The year started with the announcement of a pandemic, forever changing life as we knew it. From a real estate perspective, a “COVID Freeze” fell upon the market in February. Buyers stopped buying, and sellers pulled their properties off the market.
elsewhere for a healthier lifestyle and small-town living. The exodus for those wanting a change seemed to hit towns like Steamboat Springs around the end of May, and the market literally went from freeze to boil overnight. What ground was lost from the first five months of 2020 was all made up, and then some, with the last seven months, as nearly every major record was broken for the Steamboat Springs MLS. The only record that was not broken
The pandemic and ability to work remotely gave some a reason to look
was the total number of transactions. 2020 posted 1,655, missing the record of 1,729 in 2007, but still bettering 2019 by 33% (1,164). Total dollar volume was $1.217 billion, bettering 2007 by 21% ($1.003B) and 2019 by 50%. The amazing fact with these results is that sellers still held off placing their properties on the market, causing buyers to scramble with an offer as soon as something came available. I N F O R M AT I O N B Y D O U G L A B OR, STEAMBOATSIR
REAL ESTATE SNAPSHOT – PAST 19 YEARS
TOTAL $ VOLUME
2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500
2018
L I S T I NG S
UNI T S S O L D
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
250 2002
$1.2B $1.1B $1.0B $900M $800M $700M $600M $500M $400M $300M $200M $100M $0
LIS TIN GS / U N ITS SOLD
$ VOLU ME
Number of Listings, Units Sold and Dollar Volume
0
| S T E A M B O AT S I R . C O M
2020
$1,220,808,440
TOTAL UNITS SOLD 2018
1,273
2019
1,241
2020
1,649
104
TOTA L $ V OLU M E
P E R CE N T OF U N ITS S OL D
U NIT S S OLD
P R IC E R A NGE
97 0.8 7 9.8 1 0 0
4% 12% 19% 17% 12% 10% 9% 8% 4% 13% 8% 4% 1% 3%
$810,742,595
35
Single Family Homes, Townhomes and Condominiums 35 104 170 148 107 87 77 71 35 118 68 33 10 28
2019
$ VOLUME
ROUTT COUNTY PRICE POINT SUMMARY BY 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
$760,864,870
$5,486,500 $26,859,475 $59,880,032 $67,024,445 $59,372,706 $56,858,840 $57,969,725 $60,505,750 $33,399,650 $144,218,129 $118,100,719 $72,481,633 $27,467,950 $128,635,000
28 10
33 68
118 170 35 71 148
77 107
87
E X C L U D E S T I M E S H A R E S / F R A C T I O N A L S , LAND & COMMERCIAL
I N F O R M AT I O N P R O V I D E D B Y S T E A M BOAT SPRINGS MLS
STEAMBOAT SPRINGS – DOWNTOWN, FISH CREEK AND MOUNTAIN AREAS
Median Price Sold, Units Sold and Average Days on Market
$1.22M
180
136
88
83
115
106
2017
2018
2019
2020
25 0
$644K
$746K
117
113
84
91
96
73
80 70 60 50 40 30 20 10 0
70 60 50 40 30 20 10 0
U N I T S SOLD
LAND
$391K
$445K
173
148
129
87
73
52
0
$0 AVG D AYS ON M K T
$364K
$278K
$250K
$340K
$430K
$398K
420
466
337
272
290
356 2020
$365K
2019
$370K
$100K
2018
$325K
$200K
2015
$305K
$300K
2017
100
$400K
2016
$100K
ME D IA N P R IC E SOLD
200
2020
$200K
2019
300
2018
$300K
2017
400
2016
$400K
$500K U N ITS S OLD
500
2015
$630K
MEDIAN PRICE SOLD
CONDOMINIUMS ME D IA N P R IC E SOLD
$582K
AVG D AYS ON M K T
$500K
AV G D AY S O N M KT
$495K
UNI T S S O L D
ME DIAN P RI CE S O L D
$0
$520K
2020
$1.07M
2019
$930K
2015
$818K
2015
AV G D AY S O N M KT
$818K
2016
$0
$711K
2018
50
$200K
2017
75
$400K
2016
100
$600K
200 175 150 125 100 75 50 25 0
U N ITS S OLD
125
$800K
$800K $700K $600K $500K $400K $300K $200K $100K $0
U N ITS S OLD
$1.0M
150
U N ITS S OLD
$1.2M
ME D IA N P R IC E S OLD
TOWNHOMES
175 U N ITS S OLD
ME D IA N P R IC E S OLD
SINGLE FAMILY HOMES
UNI T S S O L D
ME DIAN P RI CE S O L D
U N I T S SOLD
MEDIAN PRICE SOLD
SURROUNDING COMMUNITIES – SINGLE FAMILY HOMES, TOWNHOMES AND CONDOMINIUMS
Median Price Sold, Units Sold and Average Days on Market
174 2020
ME DIAN P RICE S OLD
UNI T S S O L D
IN FORM ATION P ROV IDE D B Y S T E A MB O AT S P RI NG S ML S
$0 AVG DAY S ON M KT
$286K
$320K
$345K
64
73
70
MEDIAN PRICE SOLD
UNITS SOLD
$300K $200K $100K $0
AVG D AYS ON M K T
$380K
$385K
$487K
53
108
76 2020
127
0
$100K
$400K
2019
214
10
$500K
2018
$638K
2020
$465K
$200K
2019
$640K
2019
20
$300K
2018
30
70 60 50 40 30 20 10 0
M ED I AN P R IC E
$400K
M ED IA N P RI C E
$500K
50 40
2018
AV G D AY S ON MKT
60
STAGECOACH
U N ITS S OLD
$700K $600K $500K $400K $300K $200K $100K $0
HAYDEN
U N ITS S OLD
M ED IA N P RI C E
NORTH ROUTT
MEDIAN PRICE SOLD
S T E A M B O AT S I R . C O M |
UNITS SOLD
9 7 0.8 7 9.8 1 00
STEAMBOAT COMPARED TO OTHER RESORTS
$975K
$938K
$531K
$418K TAOS
$1.11M
SANTA FE
$1.12M
STEAMBOAT
BIG SKY
$1.35M
CRESTED BUTTE
TELLURIDE
$1.54M
SUN VALLEY
JACKSON HOLE
$1.57M
BRECKENRIDGE
$1.63M
LAKE TAHOE
$2.31M
PARK CITY
$2.72M
VAIL VALLEY
$7.24M ASPEN
$3,000,000 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0
2,400+ 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0
UNITS SOLD
AVE R A G E P R I C E S O L D
A B OV E INFORMAT I O N P RO V I DE D B Y I NDI V I DUA L RO CK Y M O U N TA I N M L S A R E A S W H E R E A S O T H E B Y ’ S I N T E R N AT I O N A L R E A LT Y O F F I C E E XISTS.
MAIN OFFICE
STEAMBOAT SIR MARKET SHARE 2020
Units Sold in 2020
500
20%
400
15%
300
10%
200
5%
100
0%
0
M O U N TA I N
1855 SK I T IM E SQUA R E D R
AGENCY E
25%
610 M A R K ET PL A C E P LZ
AGENCY D
600
AGENCY C
30%
AGENCY E
700
AGENCY D
35%
AGENCY C
800
AGENCY B
40%
AGENCY B
% Volume Sold in 2020
DOWNTOWN
ABOVE INFORMATION P ROV ID E D B Y S T E A MB O AT S P RI NG S ML S
97 0.8 7 9.8 1 0 0
| S T E A M B O AT S I R . C O M
56 N IN T H ST RE E T
U N ITS S OLD
AVE R A GE P R IC E S OLD
2020 Average Sold Price and Units Sold • Condominiums, Towhomes & Single Family Homes