MAIN OFFICE 970.879.8100 | MOUNTAIN 970.879.7800 | DOWNTOWN 970.870.8885 | STEAMBOATSIR.COM STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY 2022 MARKET REPORT
2022 YEAR IN REVIEW
While supply & demand and interestrate fluctuation might suggest falling real estate prices, we simply did not see that in the Steamboat Springs real estate market in 2022. We saw somewhat significant decreases in the number of sales, with the overall number of transactions (1,194) in our MLS down 34% from 2021 and the number of new listings down 19% (1,527), yet we still surpassed the $1-billion mark in sales volume, the second-highest on record.
Particularly in the second half of last year our market really started to shift. The absorption rate in the first half of 2022 was at an all-time high at 122%, but in the last two quarters of the year, it dropped to 65%. Townhomes in Steamboat really saw a jump in median price, almost doubling yearover-year. The mountain area makes up more than half of all dollar volume sold, thanks to condos making up a large portion of the inventory in the
REAL ESTATE SNAPSHOT – PAST 19 YEARS
Total MLS Number of Listings, Units Sold and Dollar Volume
mountain area and the large number of properties sold there.
T he market conditions and trends noted are a high-level view, including all different types of properties throughout Routt County. The reports that follow are designed to break down the trends and statistics in smaller areas by property type. This helps give you greater insight into the market conditions in specific segments that are relevant to you.
ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLD
Single Family Homes, Townhomes and Condominiums
EXCLUDES TIMESHARES/FRACTIONALS, LAND & COMMERCIAL 970.879.8100 | STEAMBOATSIR.COM INFORMATION PROVIDED BY STEAMBOAT SPRINGS MLS TOTAL $ VOLUME 2020 2021 2022 $1,273,213,514 $1,632,212,535 $1,220,808,440 TOTAL UNITS SOLD 2020 2021 2022 1,194 1,797 1,663 7 22 56 57 67 40 62 50 54 117 98 39 25 58 1% 2% 6% 6% 8% 4% 7% 6% 6% 13% 11% 4% 3% 6% $1,161,500 $5,709,850 $19,718,225 $25,515,641 $36,981,540 $26,253,285
Less
$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
$2,000,001
$2,500,001
PRICE RANGE UNITS SOLD PERCENT OF UNITS SOLD TOTAL $ VOLUME $ VOLUME UNITS SOLD LISTINGS 2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500 250 0 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 LISTINGS / UNITS SOLD $1.6B $1.5B $1.4B $1.3B $1.2B $1.1B $1.0B $900M $800M $700M $600M $500M $400M $300M $200M $100M $0 $ VOLUME 22 7 57 67 62 50 54 117 98 39 25 58 40 56
$46,675,900 $43,066,484 $50,830,819 $147,686,845 $169,528,858 $89,292,968 $68,634,350 $290,130,222
than
to $2,000,000
to $2,500,000
to $3,000,000 Over $3,000,000
STEAMBOAT SPRINGS – DOWNTOWN, FISH CREEK AND MOUNTAIN AREAS
Median Price Sold, Units Sold and Average Days on Market SURROUNDING
Median Price Sold, Units Sold and Average Days on Market
STEAMBOATSIR.COM | 970.879.8100 INFORMATION PROVIDED BY STEAMBOAT SPRINGS MLS
COMMUNITIES – SINGLE FAMILY HOMES, TOWNHOMES AND CONDOMINIUMS
MEDIAN PRICE SOLD UNITS SOLD MEDIAN PRICE UNITS SOLD 50 40 30 20 10 0 $1.0M $800K $600K $400K $200K $0 174 82 49 AVG DAYS ON MKT NORTH ROUTT 2020 2021 2022 $638K $758K $975K MEDIAN PRICE SOLD UNITS SOLD MEDIAN PRICE UNITS SOLD 70 40 40 90 80 70 60 50 40 30 20 10 0 $500K $400K $300K $200K $100K $0 AVG DAYS ON MKT HAYDEN 2020 2021 2022 $345K $416K $470K MEDIAN PRICE SOLD UNITS SOLD MEDIAN PRICE UNITS SOLD 70 60 50 40 30 20 10 0 $700K $600K $500K $400K $300K $200K $100K $0 76 38 65 AVG DAYS ON MKT STAGECOACH 2020 2021 2022 AVG DAYS ON MKT 175 150 125 100 75 50 25 0 UNITS SOLD MEDIAN PRICE SOLD UNITS SOLD MEDIAN PRICE SOLD SINGLE FAMILY HOMES 2017 2018 2019 2020 2021 2022 $1.8M $1.6M $1.4M $1.2M $1.0M $800K $600K $400K $200K $0 70 106 48 50 115 83 $818K $935K $1.22M $1.07M $1.71M $1.70M AVG DAYS ON MKT 500 400 300 200 100 0 $800K $700K $600K $500K $400K $300K $200K $100K $0 UNITS SOLD MEDIAN PRICE SOLD 82 32 16 28 73 127 MEDIAN PRICE SOLD UNITS SOLD CONDOMINIUMS 2017 2018 2019 2020 2021 2022 $353K $365K $391K $446K $750K $599K AVG DAYS ON MKT MEDIAN PRICE SOLD UNITS SOLD MEDIAN PRICE SOLD TOWNHOMES 200 175 150 125 100 75 50 25 0 $1.6M $1.4M $1.2M $1.0M $800K $600K $400K $200K $0 UNITS SOLD 2017 2018 2019 2020 2021 2022 100 84 73 41 44 96 $550K $625K $644K $746K $1.44M $889K AVG DAYS ON MKT $700K $600K $500K $400K $300K $200K $100K $0 80 70 60 50 40 30 20 10 0 UNITS SOLD MEDIAN PRICE SOLD 2017 2018 2019 2020 2021 2022 236 356 139 258 290 337 MEDIAN PRICE SOLD UNITS SOLD LAND $250K $340K $430K $398K $618K $550K $487K $554K $684K
970.879.8100 | STEAMBOATSIR.COM STEAMBOAT COMPARED TO OTHER RESORTS 2022 Average Sold Price and Units Sold • Condominiums, Towhomes & Single Family Homes ABOVE INFORMATION PROVIDED BY INDIVIDUAL ROCKY MOUNTAIN MLS AREAS WHERE A SOTHEBY’S INTERNATIONAL REALTY OFFICE EXISTS. AVERAGE PRICE SOLD UNITS SOLD $3,500,000 $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 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 ASPEN JACKSON HOLE TELLURIDE PARK CITY VAIL VALLEY BIG SKY SUN VALLEY BRECKENRIDGE WHITEFISH STEAMBOAT CRESTED BUTTE WINTER PARK $7.02M $1.38M $2.42M $3.53M $3.47M $1.93M $2.14M $1.29M $910K $921K $1.25M $1.14M AVERAGE PRICE SOLD UNITS SOLD INFORMATION PROVIDED BY STEAMBOAT SPRINGS MLS INVENTORY BREAKDOWN 2022 Residential, Land, and Fractional Inventory 346 UNITS SOLD, BY PROPERTY TYPE, ALL AREAS VOLUME SOLD, BY REGION SINGLE FAMILY HOMES DOWNTOWN TOWNHOMES MOUNTAIN FISH CREEK WEST STMBT CONDOMINIUMS SOUTH VALLEY FRACTIONALS ELK RIVER LAND NORTH ROUTT STAGECOACH / OAK CREEK HAYDEN 157 249 90 277 $127M $487M $138M $100M $40M $52M $31M $30M $65M
