STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY
2021 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
2021 YEAR IN REVIEW
The records were shattered again. After a record-setting real estate market in 2020, many felt that with such low inventory and uncertainty about the future of the pandemic, there would be no way 2021 could maintain the same trend in sales. Yet, 2021 seemed to be a continuation of the precedent set in 2020, but with an even more frenetic pace as inventory continued to fly off the shelf as quickly as it came on. In the low supply, high demand market in Steamboat, prices
were pushed to the highest ever seen in our market in every sector. When the total volume of sales in 2020 hit over $1.2B, bettering 2007 by 21% ($1.0B), most tenured Brokers didn’t expect to see sales volume soar to the $1.6B brought in 2021. With a severe lack of inventory, the total number of transactions remained relatively flat from 2020 to 2021, but the intense buyer demand continued to drive average prices, and therefore the total volume
up by more than 30% year-over-year. The pace at which the market moved in 2021 is reflected in the median days on market – listings were only active for 14 days in 2021, down 65% from 40 days in 2020, down 80% from 70 days in 2017. For more information about buying or selling real estate in Steamboat Springs or on how these stats pertain to you, reach out to one of our real estate professionals to help you navigate this varied and complex market.
REAL ESTATE SNAPSHOT – PAST 19 YEARS
TOTAL $ VOLUME
2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500
2019
L I S T I NG S
UNI T S S O L D
2021
2020
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
250 2003
$1.6B $1.5B $1.4B $1.3B $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
Total MLS Number of Listings, Units Sold and Dollar Volume
0
$810,742,595
2020
$1,220,808,440
2021
$1,632,212,535
TOTAL UNITS SOLD 2019
1,254
2020
1,663
2021
1,797
$ VOLUME
ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLD
97 0.8 7 9.8 1 0 0
| S T E A M B O AT S I R . C O M
3% 8% 13% 16% 9% 10% 9% 7% 5% 17% 10% 6% 3% 5%
73
TOTA L $ V OLU M E
23 73 112 145 82 86 82 66 46 152 90 55 26 48
P E R CE N T OF U N ITS S OL D
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
U NIT S S OLD
P R IC E R A NGE
Single Family Homes, Townhomes and Condominiums $3,644,145 $18,866,124 $39,269,320 $65,818,988 $45,244,060 $55,917,130 $62,048,574 $56,418,260 $43,749,250 $190,486,425 $154,669,613 $125,125,020 $72,521,782 $222,657,757
23
48
26
55
112
90
145 152
82
46 86
66 82
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
136
83
70
115
106
50
2018
2019
2020
2021
25 0
AVG D AYS ON M K T
CONDOMINIUMS
$500K
400
$500K
$746K
$889K
129
100
84
96
73
44
80 70 60 50 40 30 20 10 0
70 60 50 40 30 20 10 0
U N I T S SOLD
100 $353K
$365K
$391K
$446K
$599K
141
127
82
73
32
28
2018
2019
2020
2021
$100K
0
$0 AVG D AYS ON M K T
$278K
$250K
$340K
$430K
$398K
$550K
466
337
236
290
356
258
2016
$309K
2017
$100K
$200K
2021
$200K
$300K
2020
200
2019
$300K
$400K
2018
300
2017
$400K
ME D IA N P R IC E SOLD
$600K
2016
$644K
LAND
500 U N ITS S OLD
ME D IA N P R IC E SOLD
$625K
MEDIAN PRICE SOLD
$600K
AV G D AY S O N M KT
$550K
UNI T S S O L D
ME DIAN P RI CE S O L D
$0
$515K
2021
$1.70M
2020
$1.22M
2019
$1.07M
2018
$935K
2016
$818K
2016
$817K
2017
50
2017
75
ME D IA N P R IC E S OLD
100
200 175 150 125 100 75 50 25 0
U N ITS S OLD
125
$800K $700K $600K $500K $400K $300K $200K $100K $0
U N ITS S OLD
AV G D AY S O N M KT
150
U N ITS S OLD
$1.8M $1.6M $1.4M $1.2M $1.0M $800K $600K $400K $200K $0
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
49 2021
ME DIAN P RICE S OLD
0
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
$320K
$345K
$416K
73
70
40
MEDIAN PRICE SOLD
UNITS SOLD
M ED I AN P R IC E
$100K
$500K $400K $300K $200K $100K $0
AVG D AYS ON M K T
$380K
$385K
$487K
108
76
65 2021
127
10
$600K
2020
$758K
90 80 70 60 50 40 30 20 10 0
2019
$638K
$200K
2021
$465K
2020
20
$300K
2020
30
$400K
2019
40
M ED IA N P RI C E
$500K
50
2019
AV G D AY S ON MKT
60
STAGECOACH
U N ITS S OLD
$800K $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
INVENTORY BREAKDOWN
2021 Residential, Land, and Fractional Inventory UNITS SOLD, BY PROPERT Y T YPE, AL L AREAS
VOLUME SOLD, B Y R EGION
$149M 479
$66M
$42M $49M
511
$84M
$161M
110
224
$84M
$575M $137M
383
D O W N TO W N S INGL E FAMI LY HO ME S CONDOMINIUMS
TO WNHO ME S
S O U T H VA L L E Y
L AND
F RACT I O NAL S
M O U N TA IN
FISH CREEK
NORTH ROUTT
WEST STMBT
H AY D E N
ELK RIVER
S TA G E C O A C H / OAK CREEK
I NF O RMAT I O N P R O V I D E D B Y S T E A M B O AT S P R I N G S M L S
STEAMBOAT COMPARED TO OTHER RESORTS
AVE R A G E P R I C E S O L D
$1.13M
$1.10M
$1.06M
$903K
$745K
CRESTED BUTTE
WINTER PARK
PARK CITY
$1.26M
WHITEFISH
TELLURIDE
$1.82M
STEAMBOAT
JACKSON HOLE
$1.95M
BRECKENRIDGE
$2.03M
SUN VALLEY
$2.83M
BIG SKY
$3.23M
VAIL VALLEY
$6.88M 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
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.
97 0.8 7 9.8 1 0 0
| S T E A M B O AT S I R . C O M
UN ITS SOL D
AV ER A GE P RI C E S O LD
2021 Average Sold Price and Units Sold • Condominiums, Towhomes & Single Family Homes