IT’S ALL IN THE NUMBERS
Want to know the ins and outs of the Steamboat real estate market? We sat down with The Porches own broker Beth Postemski to get the most up-to-date information on the trends.
The numbers are in, and as the old saying goes, the numbers don’t lie.
It looks like we’ve made a full recovery since the recession in 2008 with total sales in 2015 reaching the highest numbers we’ve seen in many years with a 7% increase to $700 million and YTD in 2016 at $377 million, a 22% increase over this time last year.
Average family home prices have increased, but there’s been a real uptick in the sale of luxury homes. It looks like Steamboat is starting to catch up and join the ranks of the “million-dollar club” with more homes priced at $2 million and above selling than ever before.
“The Porches contributed to the numbers and welcomed several new owners in 2016,” says Beth Postemski, Broker Associate, Steamboat Sotheby’s International Real Estate. “It seems as though people are looking at the total value of goods these days, not just the price per square foot. They’re attracted to properties like The Porches where they have so much more than just a home, they have a neighborhood of like kind owners and a staff making their ownership effortless.”
August was a great month with $68.4M in Gross Volume and 161 Transactions—one of the best August months Steamboat has seen in years. Compared to last August, Gross Volume was up by +9.59%, with the YTD. at +9.36%. Transactions were up 7.33% compared to last August and YTD up 3.53%.
New Construction is selling well and for a significant premium to existing places. Tight supply of homes should increase the demand for lots and new construction. Appreciation should continue this year due to limited inventory.
For more information on sales at The Porches, contact