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:
|Area||Development||Address||BR||Asking Price||Sold Price||% of List||REO Bank Owned Y/N|
|1-DOWNTOWN AREA||Howelsen Place||703 Lincoln Avenue B301||Two||$716,250||$693,500||97%||No|
|2-FISH CREEK AREA||Fish Falls Cond||465 Tamarack||One||$105,000||$98,000||93%||No|
|3-MOUNTAIN AREA||Walton Village Condo||1385 Sparta Plaza RHO #4||One||$74,900||$74,900||100%||Yes|
|3-MOUNTAIN AREA||Meadowlark Condo||3020 Village Drive #112||Two||$102,000||$95,000||93%||Yes|
|3-MOUNTAIN AREA||Wildhorse Meadows - First Tracks||2545 Cattle Kate Circle, Unit 3105||Studio||$99,000||$99,000||100%||No|
|3-MOUNTAIN AREA||Wildhorse Meadows - First Tracks||2545 Cattle Kate Circle, Unit 3104||Studio||$109,000||$109,000||100%||No|
|3-MOUNTAIN AREA||Shadow Run Condos||1555 Shadow Run Ct.||Three||$124,900||$121,900||98%||Yes|
|3-MOUNTAIN AREA||Storm Meadows Condos||2355 Storm Meadows Drive||One||$149,900||$147,000||98%||Yes|
|3-MOUNTAIN AREA||Ridgecrest Condo||1805 River Queen Lane||Three Plus||$214,900||$210,000||98%||Yes|
|3-MOUNTAIN AREA||Villas @ Walton||1454 Morgan CT||Two||$249,000||$225,000||90%||No|
|3-MOUNTAIN AREA||Snowflower Condos||2200 Apres Ski Way, #205||Two||$350,000||$300,000||86%||No|
|3-MOUNTAIN AREA||The Highmark at Steamboat Springs||2525 Village Drive||Two||$479,000||$420,000||88%||No|
|SOUTH VALLEY||Timbers Condo||31500 Runaway Place Unit #405||Two Plus||$159,000||$125,000||79%||No|
|3-MOUNTAIN AREA||Walton Village Condo||1280 Athens Plaza||Three||$189,000||$180,000||95%||No|
|3-MOUNTAIN AREA||Waterford Townhome||2650 Medicine Springs Dr, Unit #1||Three||$439,900||$423,000||96%||No|
|5-WEST STEAMBOAT||West End Village||2302 Penny Lane||Three||$204,900||$225,000||110%||No|