1st Quarter Market Update
Summer is upon us and we couldn’t be more excited for a season filled with great events and a plethora of outdoor activities. Increased precipitation in April has cascaded the Valley in vibrant shades of green this May. As the days are getting longer and the wildflowers are starting to bloom, there is no better time to look at buying a home in Steamboat.
The first quarter of 2018 has seen an interesting trend in the real estate market. Steamboat kicked off the year with $55,381,825 gross volume for transaction in January, a 20.59% increase over 2017. April had a slower growth with 101 transactions and $57,504,500 gross volume, a respectable 3.06% over 2017. These numbers reflect the seasonality of Steamboat as a town, during peak season we tend to see more buyers than in the slower off-season months i.e. April and May.
We expect to see an up tick in buyers starting in June and heading into the summer months. Right now, Steamboat is considered to be a buyers’ market, our inventory is low while prices have not been driven up just yet. This is something that is anticipated to change as inventory continues to dwindle.
The mountain area continues to be the most desired location in Steamboat; accounting for $82,862,000 in dollar volume and 40.67% of the total number of transactions as of April 30, 2018. Located in the base area The Porches of Steamboat is a private neighborhood unlike any other in a mountain town. Just 400 yards from the mountain and within minutes of downtown we offer the experience of a true community with unparalleled ease of access to all Steamboat has to offer.
We are looking forward to another incredible summer season in Steamboat Springs.
1st Quarter Numbers
$139,864,775 in gross volume for January 1, 2018- March 31, 2018.
258 transactions for January 1, 2018- March 31, 2018.
$56,388,800 in transactions in the mountain area for January 1, 2018- March 31, 2018.
The mountain area accounts for 38.37% of the total number of transactions in the first quarter of 2018.
For more information on the Steamboat market or Porches ownership opportunities, contact The Porches sales team.