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STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY

2020 MARKET REPORT

MAIN OFFICE

970.879.8100

| M O U N TA I N

970.879.7800

| DOWNTOWN

970.870.8885

| S T E A M B O AT S I R . C O M


2020 YEAR IN REVIEW

Unprecedented and unpredictable. Two adjectives describing the 2020 Steamboat Springs real estate market. The year started with the announcement of a pandemic, forever changing life as we knew it. From a real estate perspective, a “COVID Freeze” fell upon the market in February. Buyers stopped buying, and sellers pulled their properties off the market.

elsewhere for a healthier lifestyle and small-town living. The exodus for those wanting a change seemed to hit towns like Steamboat Springs around the end of May, and the market literally went from freeze to boil overnight. What ground was lost from the first five months of 2020 was all made up, and then some, with the last seven months, as nearly every major record was broken for the Steamboat Springs MLS. The only record that was not broken

The pandemic and ability to work remotely gave some a reason to look

was the total number of transactions. 2020 posted 1,655, missing the record of 1,729 in 2007, but still bettering 2019 by 33% (1,164). Total dollar volume was $1.217 billion, bettering 2007 by 21% ($1.003B) and 2019 by 50%. The amazing fact with these results is that sellers still held off placing their properties on the market, causing buyers to scramble with an offer as soon as something came available. I N F O R M AT I O N B Y D O U G L A B OR, STEAMBOATSIR

REAL ESTATE SNAPSHOT – PAST 19 YEARS

TOTAL $ VOLUME

2,500 2,250 2,000 1,750 1,500 1,250 1,000 750 500

2018

L I S T I NG S

UNI T S S O L D

2020

2019

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

250 2002

$1.2B $1.1B $1.0B $900M $800M $700M $600M $500M $400M $300M $200M $100M $0

LIS TIN GS / U N ITS SOLD

$ VOLU ME

Number of Listings, Units Sold and Dollar Volume

0

| S T E A M B O AT S I R . C O M

2020

$1,220,808,440

TOTAL UNITS SOLD 2018

1,273

2019

1,241

2020

1,649

104

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

4% 12% 19% 17% 12% 10% 9% 8% 4% 13% 8% 4% 1% 3%

$810,742,595

35

Single Family Homes, Townhomes and Condominiums 35 104 170 148 107 87 77 71 35 118 68 33 10 28

2019

$ VOLUME

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

$760,864,870

$5,486,500 $26,859,475 $59,880,032 $67,024,445 $59,372,706 $56,858,840 $57,969,725 $60,505,750 $33,399,650 $144,218,129 $118,100,719 $72,481,633 $27,467,950 $128,635,000

28 10

33 68

118 170 35 71 148

77 107

87

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

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

$1.22M

180

136

88

83

115

106

2017

2018

2019

2020

25 0

$644K

$746K

117

113

84

91

96

73

80 70 60 50 40 30 20 10 0

70 60 50 40 30 20 10 0

U N I T S SOLD

LAND

$391K

$445K

173

148

129

87

73

52

0

$0 AVG D AYS ON M K T

$364K

$278K

$250K

$340K

$430K

$398K

420

466

337

272

290

356 2020

$365K

2019

$370K

$100K

2018

$325K

$200K

2015

$305K

$300K

2017

100

$400K

2016

$100K

ME D IA N P R IC E SOLD

200

2020

$200K

2019

300

2018

$300K

2017

400

2016

$400K

$500K U N ITS S OLD

500

2015

$630K

MEDIAN PRICE SOLD

CONDOMINIUMS ME D IA N P R IC E SOLD

$582K

AVG D AYS ON M K T

$500K

AV G D AY S O N M KT

$495K

UNI T S S O L D

ME DIAN P RI CE S O L D

$0

$520K

2020

$1.07M

2019

$930K

2015

$818K

2015

AV G D AY S O N M KT

$818K

2016

$0

$711K

2018

50

$200K

2017

75

$400K

2016

100

$600K

200 175 150 125 100 75 50 25 0

U N ITS S OLD

125

$800K

$800K $700K $600K $500K $400K $300K $200K $100K $0

U N ITS S OLD

$1.0M

150

U N ITS S OLD

$1.2M

ME D IA N P R IC E S OLD

TOWNHOMES

175 U N ITS S OLD

ME D IA N P R IC E S OLD

SINGLE FAMILY HOMES

UNI T S S O L D

ME DIAN P RI CE S O L D

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

174 2020

ME DIAN P RICE S OLD

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

$286K

$320K

$345K

64

73

70

MEDIAN PRICE SOLD

UNITS SOLD

$300K $200K $100K $0

AVG D AYS ON M K T

$380K

$385K

$487K

53

108

76 2020

127

0

$100K

$400K

2019

214

10

$500K

2018

$638K

2020

$465K

$200K

2019

$640K

2019

20

$300K

2018

30

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 40

2018

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

MEDIAN PRICE SOLD

S T E A M B O AT S I R . C O M |

UNITS SOLD

9 7 0.8 7 9.8 1 00


STEAMBOAT COMPARED TO OTHER RESORTS

$975K

$938K

$531K

$418K TAOS

$1.11M

SANTA FE

$1.12M

STEAMBOAT

BIG SKY

$1.35M

CRESTED BUTTE

TELLURIDE

$1.54M

SUN VALLEY

JACKSON HOLE

$1.57M

BRECKENRIDGE

$1.63M

LAKE TAHOE

$2.31M

PARK CITY

$2.72M

VAIL VALLEY

$7.24M ASPEN

$3,000,000 $2,750,000 $2,500,000 $2,250,000 $2,000,000 $1,750,000 $1,500,000 $1,250,000 $1,000,000 $750,000 $500,000 $250,000 $0

2,400+ 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 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 2020

Units Sold in 2020

500

20%

400

15%

300

10%

200

5%

100

0%

0

M O U N TA I N

1855 SK I T IM E SQUA R E D R

AGENCY E

25%

610 M A R K ET PL A C E P LZ

AGENCY D

600

AGENCY C

30%

AGENCY E

700

AGENCY D

35%

AGENCY C

800

AGENCY B

40%

AGENCY B

% Volume Sold in 2020

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

2020 Average Sold Price and Units Sold • Condominiums, Towhomes & Single Family Homes

Profile for Steamboat Sotheby's International Realty

2020 Annual Market Report  

2020 Annual Market Report  

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