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:
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