Today I looked at the number of pending contracts for Steamboat condos for sale. Pending contracts are those that are in escrow. The buyer and seller have not yet closed and the deed has not changed hands. A few may fall out of escrow for various reasons (inspection issues, low appraisals, etc.), but most of the buyers will take possession of their new condo.
Here is a quick snapshot of what Steamboat condos are selling:
- There are 28 Steamboat condos pending.
- 17 of them (60%) are listed for $300,000 or less
- 23 of them (82%) are listed for $500,000 or less.
- One Steamboat Place has 2 condos under contract. Both are priced around $2,000,000.
- Over 30% sold within 30 days of being listed for sale.
- 65% have two bedrooms.
- 7% have one bedroom.
- 28% have 3-4 bedrooms.
So what do these stats tell you if you are thinking about buying a Steamboat condo?
- Buyers need to make offers quickly if they are looking at well-maintained condos under $300,000 because they won’t be on the market long.
- One Steamboat Place is popular with luxury condo buyers.
- Sellers with condos priced from $500,000-$1,000,000 need to price aggressively to attract limited buyers.