How's The Market?

Opening Day is right around the corner on November 22, and our
residents and visitors alike are hoping for the mercury to drop and
the snow to start flying! If the Farmer’s Almanac is to be believed,
snow and colder temperatures are on the way.



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How's The Market?

Although winter doesn’t officially start for another two months, the
Yampa Valley has already seen its first snowfall, which is great news for
all the winter sports enthusiasts. Opening Day at the Steamboat Resort
is November 22, 2023, which is only a short 38 days from October 15
(not that any of us are counting down!).



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How's The Market?

The Yampa Valley has been blessed this summer with an excellent mix
of both rain and sunshine. With temperatures gradually cooling and
some Colorado towns seeing the white mana from heaven already
starting to fall, rest assured that winter is right around the corner.

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Residents and visitors of the Yampa Valley have been soaking up
the sun during these Dog Days of Summer, taking advantage of
everything our region has to offer, from tubing and fishing the Yampa,
to Saturday Farmer’s Markets, to the Hot Air Balloon Rodeo which,
like the mythical phoenix, has risen after a brief hiatus.



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How's The Market?

The summer in the Yampa Valley is in full swing, with events galore,
gorgeous weather, and an active real estate market.

As of July 13, 2023, Routt County has 159 active residential listings.
That’s up from 127 this time last month, and down from this time last
year (240). The number of currently-pending listings (108) is up from
this time last month (100), and also up from this time last year (87).
The county-wide closed listings in June were down (54) compared to
the month prior, May (64), and down compared to June of 2022 (89).

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How's The Market?

When the newsletter came out last month, the Yampa Valley had not received much
springtime precipitation. As anyone paying attention to the verdant landscape can
attest, we’ve had a lot of rain to keep things very green and colorful well into June.

As of June 13, 2023, Routt County has 127 active residential listings. That’s up from
79 this time last month, and down from this time last year (120). The number of
currently-pending listings (100) is up from this time last month (79), and also up from
this time last year (69). Closed listings in May county-wide were up (64) compared
to the month prior, March (49), and down compared to May of 2022 (81).

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How's The Market?

We haven’t seen a lot of springtime precipitation, but much of the county is wet.
With near-recordbreaking snowfalls, the warm weather is melting the snowpack
quite quickly, and with that will come increased river flows. The city and the county
have resources available to help homeowners who are at increased flood risk, so
please contact them with questions!




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How's The Market?

Routt County hasn’t seen the famous April showers, but early April snow-showers
brought the snow total to over 440” for the season. And while the spring weather
seems to be upon us, there’s always a chance snow will return, so don’t put away
those shovels just yet!





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How's The Market?

The recent weather in the Yampa Valley—along with the time change—makes
it feel like spring is in the air. Before putting away your wool socks, though,
remember that March is historically Steamboat’s snowiest month. Perhaps relying
on that piece of history (along with the 376” we’ve received so far), the Resort
has extended the closing date from April 9 to April 16.





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How's The Market?

We hope that everyone’s year is off to a great start! Although the Yampa valley
has had a brief respite from the snow, the mountain has tallied over 330” inches
so far, with more snow on the way! Our 110th Winter Carnival came and went in
spectacular fashion, as it does every year. And while the temperatures have been
cool, the same can’t be said for our real estate market.

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How's The Market?

With temperatures in the Yampa Valley hovering around freezing, and with a
couple of decent early-season snowfalls, winter is right around the corner! The
snowy weather for our alpine enthusiasts is a welcome sight, and likely puts the
opening day of November 23 at Steamboat Resort right on track!

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How's The Market?

The Yampa Valley was blessed with a wet spring and summer, which has resulted
in a brilliant palate of golds, oranges, and reds in our hills. With recent dry
weather, it’s the perfect time to get out on those trails and appreciate Mother
Nature’s autumn bounty.

Routt County currently has 155 active residential listings; that’s down from this
time last month (185) and down from this time last year (184). The number of
current pending listings (52) is also down from this time last month (77) and
also down from this time last year (102). Closed listings county-wide have also
diminished with 75 last month compared to 120 in September 2021. The median
sale price has also fallen from a high of nearly $1.6M in May 2020 to about $1.2M
last month.



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How's The Market?

Fall is in the air! With a change in the seasons, we’re also starting to see a bit of
a shift in market conditions. There are currently 186 active residential listings in
Routt County. This is a jump from last year (159), but still a marked decline from
pre-pandemic numbers in September 2019 of 548 residential listings county-wide.
While it's true that properties are taking longer to go under contract (17 days in
2022 versus 7 days this time last year), it’s a far cry from the 49 days on market in
September of 2019. Similarly, although we’re seeing price cuts, the average sold
price for single-family homes today ($1.6M) is higher than it was in September
of 2019 ($750K).

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How's the Market?

In case you missed it, here is the big news out of our office this month: On August
1, 2022, Colorado Group Realty was acquired by The Group, Inc. Real Estate, out of
Fort Collins. When Colorado Group Realty formed in 1995, the founding agents of
Colorado Group Realty modeled themselves after The Group, which had been in
practice since 1976. Both The Group and Colorado Group Realty have maintained
a close relationship since that time.

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How's The Market?

As we bask in another epic Yampa Valley summer, the local real estate market continues
to flow steadily. Last month, there were only 117 residential properties for sale in Routt
County; this month, we’re up to 177. This is welcome news for buyers, who haven’t
experienced inventory at this level since last summer. More inventory has proven to
mean more transactions: there were 89 closings county-wide in June, which is nearly
double the amount we had in January 2022 (which only had 48 closings).


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How's The Market?

The heat is on! Not only with the gorgeous weather in the Yampa Valley, but also with
our real estate market. This time last month, there were only 69 offerings county-wide;
now we’re up to 117. We’ve jumped from less than one month of available inventory
to 1.3 months of inventory.

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How's The Market?

How's the Market?
We hear a common refrain from would-be buyers on the streets: “But there’s
just no inventory!” The numbers tell a different story. There are currently 69
offerings across Routt County, the same number as last month, but there were
84 closings county-wide. The average days on market also remains incredibly
low, currently at just seven days.
The numbers tell us a couple of things: First, that listings go under contract
almost as quickly as they’re put on the market. Second, while standing inventory
has remained persistently low, the number of actual closings has ticked up
showing that there is inventory; it just sells fast. This has been the trend in Routt
County for the last dozen years, however the pandemic super-charged it.


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How's The Market?

While the weather in Steamboat this time of year may keep us guessing, one
thing that has remained consistent from the past month is the number of
available listings. Across Routt County, residential offerings continue to sit at
only 69 properties. There were 58 closings countywide in the month of March,
which means that there are roughly the same number of properties closing as are
hitting the market. Average days on market is also holding steady at seven days.
The median close price for single family homes in Steamboat Springs continues
its ascent, rising from about $1.5M in February 2022, to $1.65M in March 2022.
Those looking for a single-family home in Steamboat for under $2M continue
to be challenged as there are only 11 listings currently in that category.

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How's The Market?

With warmer weather approaching, we will hopefully soon get a thaw in the
persistently low inventory. Last month, there were only 51 residential offerings
across Routt County; as of this writing, we’ve ticked up slightly to 69. Indeed, there
appears to be a slow gradual increase of new listings throughout the county as the
year progresses, with 13 new listings in December 2021; 16 new listings in January
2022; and 21 new listings in February 2022. That said, we’re still a long way off from
what is considered a balanced supply of inventory of around six months. Currently,
we only have a meager two months of supply.



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How's The Market?

Although it may seem like 2022 is off to a slow start, there’s no need to worry;
while there are currently only 51 offerings throughout Routt County, there were 48
transactions county-wide in January (compared with 67 in January 2021). January
had $47M in sales volume in the county, which was down only 14% from last year
but still up significantly from January 2020 when there was only $29M in volume.


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