Condo and Townhome Inventory Low in Steamboat

As we’re approaching the end of 2015, it’s apparent that the hottest price points in Steamboat are running low on inventory. The condo and townhome sales in Steamboat for 2015 have been great. 488 units sold in the last 12 months. Condos under $500K represented over 80% of all sales.

The supply for condos under $200K, is only 2 months, increasing to 4.3 months for $200-300K and 9.9 months for condos priced $300-500. Anything under a 6 months’ supply is considered tight, and points towards a seller’s market. Above that, and the market dynamic is more geared toward a buyer’s market.

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For townhomes, the surprising price segment is $500,000-$750,000. While the lower end townhomes under $300K are also running low on inventory, this segment is at only 3.3 months of supply. There were 55 townhome sales in this price range in Steamboat in the past 12 months, while there are currently only 15 on the market.

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