In July, 42 Steamboat Spring condos, townhomes and fractional ownership residences sold for $13,705,350 in dollar volume. All but six condos sold for less than $500,000, showing the trend of buyers purchasing entry level housing instead of renting because 1) rentals are hard to find and 2) low interest rates and rising prices are causing buyers to lock in housing costs.
Interestingly, 70% of buyers financed their Steamboat condo. Over the past couple of years, we’ve seen about 50% of buyers pay cash instead of financing. Low interest rates and renters moving up to homeownership have both contributed to the decision to finance.
Some of the developments with multiple sales include Residences of Old Town, Rockies, Sundance Creek, Sunray Meadows, The Phoenix, Walton Village and Whistler Village. Scroll down to see the full list of Steamboat condo sales.
Call us at (970) 846-8284 with your questions or to set up a time to look at Steamboat properties.
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