Market Update

BlogPorches 1

With over 200” of snow already this winter season, you can say that Steamboat has been blessed by the snow gods.

This winter is well underway with just under 12 weeks left in our season, and what a wonderful season it has been so far! As the snow continues to fall outside, we wanted to take an opportunity to look back at the Steamboat real estate market from August to November of 2019. These months saw some of our largest gross volume numbers of the year with August, October, and November all seeing over $90,000,000 in gross volume. This trend is typical of years past as buyers flock to Steamboat in the fall, not only for the stunning fall colors, but also to secure a vacation home before the winter season kicks off.

As of November 2019, gross dollar volume is up .41% over 2018 and down -7.22% in total number of transactions over 2018. As median list price continued to increase steadily through the fall, inventory has continued to decline which is consistent with the demand we have seen in our real estate market.

The Porches Numbers

Big news here, The Porches accounted for 74.67% of the dollar volume transactions in November of 2019 and 24.02% of the dollar volume transactions YTD as of November.

At The Porches, we have experienced an increase in the interest in fractional ownership as prices increase and quality inventory begins to dwindle. We have found buyers more intrigued by the option to pay for the time they are able to spend while still being able to own in a luxury property.

November 2019 YTD Numbers

$343,919,009 in gross volume for August 1, 2019 to November 30, 2019.

527 transactions for August 1, 2019 to November 30, 2019.

$348,664,528 in transactions in the mountain area YTD.

The mountain area accounts for 39.12% of the total number of transactions YTD.

The mountain area accounts for 44.02% of the total dollar volume of transactions YTD.

For more information on the Steamboat market or Porches ownership opportunities, contact The Porches sales team.