The market has turned and people are buying again. There were 43 Steamboat condos that sold in October ranging in price from a $60,000 Stagecoach Townhome to a $915,000 Stonewood Townhome. The average price was $396,845 reflecting the return of the mid-range buyer who sat patiently on the sidelines for the past several years.
In fact, about half the Steamboat condo sales in October had a purchase price between $300,000-$700,000. Only five were bank-owned. Sellers are also seeing–and getting– offers closer to their asking price. The average list-to-sold ratio was 95%, meaning most buyers were able to negotiate a 5% discount off the list price when they closed on their condo last month.
When you compare this years’ sales to those from a year ago it’s apparent the mid-range buyer has returned. In October 2011, there were 28 condo/townhome sales– and 21 of those sold for less than $350,000. Six were bank-owned.
Prices are now about 30-35% lower than they were at the peak and appear to have stopped sliding downward. Please call us at 970-846-8284 for specifics or for a short list of available Steamboat condos for sale.
See the table below for full sales details and sort by price, development, etc.
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