STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY
2019 MARKET REPORT
MAIN OFFICE
970.879.8100
| M O U N TA I N
970.879.7800
| D OW N TOW N
970.870.8885
| S T E A M B OAT S I R . C O M
2019 MARKET SUMMARY
The new course the Steamboat Springs real estate market set in 2018 did not alter more than a few degrees in 2019. The number of transactions posted by the Steamboat Springs MLS dropped 2% from 2018. This is most likely due to the low supply of properties for sale in the market over the past three years. Less inventory led to less buying opportunities, therefore the slight drop in overall transactions.
Except for 2006 (1,065), 2019 carried the second lowest number of listings throughout the year, calling it a tie with 2007 at 1,081.
prices to increase, which is seen by the sharp increase in average price from $522,000 to nearly $651,000 in 2019. From 1995 to 2019, the Average Price for properties in the Steamboat Another key indicator is Absorption Rate, or the inventory bought, which is Springs MLS has increased an average of 9.17% annually. The 2019 Average the dynamic between supply (listings) Price of $650,780 is the highest the and demand (transactions). After nine MLS has ever recorded. Likewise, the straight years of a higher supply than 2019 Median Price was $419,000, also demand, over the last three years, the market has seen the opposite with more highest on record. demand than supply. With supply not I N F O R M AT I O N B Y D O U G L A B OR, STEAMBOATSIR meeting demand, one would expect
Speaking of low supply, listings declined for the ninth straight year.
REAL ESTATE SNAPSHOT – PAST 19 YEARS
Number of Listings, Units Sold and Dollar Volume 2,250
$1.0B $900M
1,750
$800M
1,500
$700M
1,250
$600M
1,000
$500M
750
$400M $300M
500
$200M
250
L I S T I NG S
UNI T S S O L D
2019
2018
2017
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
$100M
| S T E A M B O AT S I R . C O M
7% 15% 15% 14% 9% 9% 6% 6% 2% 8% 5% 1% 1% 2%
TOTA L $ V OLU M E
P E R CE N T OF U N ITS S OL D
U NIT S S OLD
P R IC E R A NGE
97 0.8 7 9.8 1 0 0
$716,814,922
2018
$760,864,870
2019
$810,742,595
TOTAL UNITS SOLD 2017
1,373
2018
1,273
2019
1,241
64
20 913
$ VOLUME
Single Family Homes, Townhomes and Condominiums 64 135 138 121 83 79 52 53 22 72 43 13 9 20
2017
$0
ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLD
Less than $200,000 $200,001 to $300,000 $300,001 to $400,000 $400,001 to $500,000 $500,001 to $600,000 $600,001 to $700,000 $700,001 to $800,000 $800,001 to $900,000 $900,001 to $1,000,000 $1,000,001 to $1,500,000 $1,500,001 to $2,000,000 $2,000,001 to $2,500,000 $2,500,001 to $3,000,000 Over $3,000,000
$ V OLU ME
LISTIN GS / U N ITS SOLD
2,000
0
TOTAL $ VOLUME
$1.1B
$9,863,410 $34,714,604 $49,895,274 $55,167,745 $47,368,880 $55,472,250 $44,672,325 $47,447,985 $22,846,000 $87,343,230 $73,984,800 $29,010,000 $25,172,000 $139,356,250
43 72
135
22 53 52
138 79 121
83
E X C L U D E S T I M E S H A R E S / F R A C T I O N A L S , LAND & COMMERCIAL
0 0 0,0 04 $ ot 1 0 0,0 03 $ 0 0 0,0 07 $ ot 1 0 0,0 06 $
00 0, 00 0,1 $ ot 1 0 0,0 09 $
0 0 0,0 03 $ ot 1 0 0,0 02 $
0 00 ,
0 0 0,0 06 $ ot 1 0 0,0 05 $
0 0 0,0 0
0 0 0,0 09 $ ot 1 0 0,0 08 $
0 0 0,0 0
I N F O R M AT I O N P R O V I D E D B Y S T E A M BOAT SPRINGS MLS
STEAMBOAT SPRINGS – DOWNTOWN, FISH CREEK AND MOUNTAIN AREAS
Median Price Sold, Units Sold and Average Days on Market
180
136
88
83
109
2015
2016
2017
2018
2019
ME D IA N P R IC E S OLD
$0 AVG D AYS ON M K T
CONDOMINIUMS
$582K
$630K
$644K
135
117
113
84
91
96
0
U N I T S SOLD
$391K
159
173
148
129
87
73
20
$100K
0
$0 AVG D AYS ON M K T
$346K
$364K
$278K
$250K
$340K
$430K
323
420
466
337
272
290 2019
$365K
30
$200K
2018
$370K
40
2017
$325K
50
$300K
2016
$305K
60
$400K
2014
$280K
70
2015
100
ME D IA N P R IC E SOLD
$100K
2019
200
2018
$200K
2017
300
2016
$300K
2015
400
$500K
UNI T S S O L D
ME DIAN P RI CE S O L D
U N ITS S OLD
$400K
2014
$495K
LAND
500 U N ITS S OLD
ME D IA N P R IC E SOLD
$520K
MEDIAN PRICE SOLD
$500K
$0
$484K
UNI T S S O L D
ME DIAN P RI CE S O L D
AV G D AY S O N M KT
50
$100K
2019
102
$200K
2018
$1.07M
100
$300K
2017
$930K
$400K
2016
$818K
150
$500K
2015
$818K
200
2014
$711K
2014
AV G D AY S O N M KT
$628K
$700K $600K
U N ITS S OLD
$1.0M $900K $800K $700K $600K $500K $400K $300K $200K $100K $0
TOWNHOMES
200 175 150 125 100 75 50 25 0
U N ITS S OLD
ME D IA N P R IC E S OLD
SINGLE FAMILY HOMES
10 0
U N I T S SOLD
MEDIAN PRICE SOLD
SURROUNDING COMMUNITIES – SINGLE FAMILY HOMES, TOWNHOMES AND CONDOMINIUMS
Median Price Sold, Units Sold and Average Days on Market
214
127
2018
2019
ME DIAN P RICE S OLD
0
UNI T S S O L D
IN FORM ATION P ROV IDE D B Y S T E A MB O AT S P RI NG S ML S
$0 AVG DAY S ON M KT
$263K
$286K
$320K
58
64
73
MEDIAN PRICE SOLD
UNITS SOLD
$400K
50 40
$300K
30
$200K
20
$100K $0
AVG D AYS ON M K T
$361K
$380K
$385K
88
53
108 2019
207
10
60
2018
$465K
$100K
$500K
2017
$640K
$200K
2019
$483K
2017
20
2018
30
$300K
2017
40
70 60 50 40 30 20 10 0
M ED I AN P R IC E
$400K
M ED IA N P RI C E
$500K
50
MEDIAN PRICE SOLD
S T E A M B O AT S I R . C O M |
10
U N ITS S OLD
AV G D AY S ON MKT
60
STAGECOACH
U N ITS S OLD
$700K $600K $500K $400K $300K $200K $100K $0
HAYDEN
U N ITS S OLD
M ED IA N P RI C E
NORTH ROUTT
0
UNITS SOLD
9 7 0.8 7 9.8 1 00
STEAMBOAT COMPARED TO OTHER RESORTS
$2,000,000
2,000
$1,800,000
1,800
$1,600,000
1,600
$1,400,000
1,400
$1,200,000
1,200
$1,000,000
1,000
$1.26M
$1.21M
$1.14M
$1.13M
$839K
$792K
$764K SUN VALLEY
$1.66M
STEAMBOAT
$1.76M
CRESTED BUTTE
$1.84M
BIG SKY
$0
$4.35M
BRECKENRIDGE
$200,000
PARK CITY
400
VAIL VALLEY
$400,000
LAKE TAHOE
600
JACKSON HOLE
$600,000
TELLURIDE
800
ASPEN
$800,000
200 0
UNITS SOLD
AVE R A G E P R I C E S O L D
A B OV E INFORMAT I O N P RO V I DE D B Y I NDI V I DUA L RO CK Y M O U N TA I N M L S A R E A S W H E R E A S O T H E B Y ’ S I N T E R N AT I O N A L R E A LT Y O F F I C E E XISTS.
MAIN OFFICE
STEAMBOAT SIR MARKET SHARE 2019
% Volume Sold in 2019
Units Sold in 2019
45%
800
40%
700
35%
610 M A R K ET PL A C E P LZ
600
30%
500
25%
M O U N TA I N
400
20%
300
AGENCY E
AGENCY D
0
1855 SK I T IM E SQUA R E D R
AGENCY C
0% AGENCY E
100 AGENCY D
5% AGENCY C
200
AGENCY B
10%
AGENCY B
15%
DOWNTOWN
ABOVE INFORMATION P ROV ID E D B Y S T E A MB O AT S P RI NG S ML S
97 0.8 7 9.8 1 0 0
| S T E A M B O AT S I R . C O M
56 N IN T H ST RE E T
U N ITS S OLD
AVE R A GE P R IC E S OLD
2019 Average Sold Price and Units Sold • Condominiums, Towhomes & Single Family Homes