Steamboat Condo Sales in Jan 2012

There were 19 Steamboat Springs condominium and townhome sales in January with an average sold price of $196,981.  It’s hard to believe that buyers couldn’t find a Steamboat condo to buy for under $300,000 at the peak of the market, and five years later, more than 50% of sales are for less than $150,000.

REO/Bank owned condos accounted for 36% of sales, mainly in the entry level market like Shadow Run, Meadowlark, Walton Village and Stagecoach Townhomes.

Positive trends we’re seeing include Steamboat developments finally selling out of the developer owned units.  The Highmark at Steamboat closed on the last available developer condo this month, and First Tracks at Wildhorse has only 1 more 2 BR available before resales will be the only way to buy a condo at First Tracks.

Edgemont has only 13 luxury ski in, ski out condos left of the 39 original residences, so buyers are looking in all price ranges for new developments with value pricing.  Here is a list of the sold condos:

AreaDevelopmentAddressBRAsking PriceSold Price% of ListREO Bank Owned Y/N
1-DOWNTOWN AREAHowelsen Place703 Lincoln Avenue B301Two$716,250 $693,500 97%No
2-FISH CREEK AREAFish Falls Cond465 TamarackOne$105,000 $98,000 93%No
3-MOUNTAIN AREAWalton Village Condo1385 Sparta Plaza RHO #4One$74,900 $74,900 100%Yes
3-MOUNTAIN AREAMeadowlark Condo3020 Village Drive #112Two$102,000 $95,000 93%Yes
3-MOUNTAIN AREAWildhorse Meadows - First Tracks2545 Cattle Kate Circle, Unit 3105Studio$99,000 $99,000 100%No
3-MOUNTAIN AREAWildhorse Meadows - First Tracks2545 Cattle Kate Circle, Unit 3104Studio$109,000 $109,000 100%No
3-MOUNTAIN AREAShadow Run Condos1555 Shadow Run Ct.Three$124,900 $121,900 98%Yes
3-MOUNTAIN AREAStorm Meadows Condos2355 Storm Meadows DriveOne$149,900 $147,000 98%Yes
3-MOUNTAIN AREARidgecrest Condo1805 River Queen LaneThree Plus$214,900 $210,000 98%Yes
3-MOUNTAIN AREAVillas @ Walton1454 Morgan CTTwo$249,000 $225,000 90%No
3-MOUNTAIN AREASnowflower Condos2200 Apres Ski Way, #205Two$350,000 $300,000 86%No
3-MOUNTAIN AREAThe Highmark at Steamboat Springs2525 Village DriveTwo$479,000 $420,000 88%No
SOUTH VALLEYTimbers Condo31500 Runaway Place Unit #405Two Plus$159,000 $125,000 79%No
3-MOUNTAIN AREAWalton Village Condo1280 Athens PlazaThree$189,000 $180,000 95%No
3-MOUNTAIN AREAWaterford Townhome2650 Medicine Springs Dr, Unit #1Three$439,900 $423,000 96%No
5-WEST STEAMBOATWest End Village2302 Penny LaneThree$204,900 $225,000 110%No