Monday, November 17, 2008

Steamboat Springs, Colorado - Real Estate Activity Update:

Steamboat Springs, Colorado - Real Estate Actvity Update

MLS Statistics by Area (January 1st, 2008 – November 17th, 2008)
Single Family Homes, Townhomes, Condos, Multi Family:

Mountain Area: 26 Pending, 203 Sold, 383 Active, 512 Expireds/Withdrawns (EW).

Downtown Area: 10 Pending, 28 Sold, 69 Active, 120 EW.

Fish Creek Falls Area: 7 Pending, 37 Sold, 60 Active, 90 EW.

West Steamboat: 0 Pending, 6 Sold, 26 Active, 13 EW.

Hayden: 6 Pending, 29 Sold, 31 Active, 56 EW.

Stagecoach: 2 Pending, 6 Sold, 26 Active, 13 EW.

These statistics represents 6 of the 25 Steamboat Springs Board of Realtors Search Areas in our local Multiple Listing Service (MLS). To view all search areas go to and click on Communities.

Commercial Property which can be retail, business, industrial or lodging in the entire MLS has 5 Pending, 100 Sold, 128 Active, and 103 EW. Many developments have space available including Howelsen Place, Sundance North, Torian Plum, The Grand, Pine Grove and Fox Creek Park to name a few. The Alpen Glow, The Victoria and The Olympian, are almost 100 percent sold or leased according to speakers at the Real Estate Expo in Steamboat Springs, Colorado last week.

The total volume of closed units in the Steamboat Springs, Colorado MLS since January 1st, 2008 is $247 million. This dollar volume is very comparable to the sales during the same time period in 2006 which was $289 million. This number is more significant then the sales volume of 2007 since during that year there was a huge influx of buyers based on the multiple acquisitions of major properties such as Intrawest purchasing the Steamboat Springs Ski & Resort Corporation & Starwood Hotels purchasing the Sheraton Resort plus there were several other major purchases during 2008 (see: The 2007 sales volume at the end of September was $524 million.

According to Bruce Carta from Land Title Guarantee Company the total number of sales or transactions at the end of the third quarter was 228. July had 94 transactions – August had 70 transactions – September had 64 transactions. In the last five years a typical month was over 100 transactions.

Although transaction numbers are down the price per square foot (PPSF) continues to rise. The following is an average PPSF for the following years: 2006=$290 PPSF & 2008=$450 PPSF.

Currently, we are seeing at least one property go under contact daily and an average of at least two closings per day.

The Third quarter produced the lowest unit sales volume since 2003. My guess is that many buyers are going to be anxious to sell soon, so now is a great time to be a buyer in the Steamboat Springs, Colorado real estate market.

To obtain information on any property in Steamboat Springs, Colorado or the surrounding areas with Buyer Representation, contact
Michelle Diehl, GRI Broker Associate at Prudential Steamboat Realty.
I am happy to help...

cell: (970)846-1086
office: (970)879-8100 ext. 434