Steamboat Springs Real Estate Market Update - August 2017

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New Listings were down 20.4 percent for single family homes and 19.0 percent for townhouse-condo properties. Pending Sales decreased 22.2 percent for single family homes and 8.8 percent for townhouse-condo properties.

The Median Sales Price was up 5.6 percent to $596,000 for single family homes and 21.7 percent to $383,500 for townhouse-condo properties. Days on Market increased 10.3 percent for single family homes but decreased 20.1 percent for condo properties.

The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect housing. Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which may help lift the ongoing low inventory situation in 2018.

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