2015 is proving to be a transitional year in real estate here in Steamboat Springs and around the country. (The stories out of Denver and the Front Range show their markets are even crazier than ours with 50 showings the first day and 20 offers on the same property. Whew).
Our low inventory has frustrated buyers who either aren’t finding what they are looking for or are finding prices higher than recent comps with sellers willing to wait for the next buyer rather than settling for a lower price.
The February stats really illustrate what is going on. Land Title emailed the final numbers showing February was quite a bit slower than last year with only $16.2 in Steamboat real estate Gross Sales Volume (down 58% from last year) and 49 Steamboat real estate transactions (down 50% from last year).
The reason sales are down is because there aren’t enough condos, townhomes, and single family homes in move-in-ready condition for the buyers who want them. They are forced to stay on the sidelines instead of buying, and when prices are now rising an average of 11% a year, people are ready to buy.
Call us at (970) 846-8284 if you have questions, and here are sales from March 2015:[table id=71 /]