April (snow) showers bring May flowers… spring has gotten off to a typical start in Steamboat with rain and snow throughout much of April. As we head into May we are looking forward to warmer weather and blue sky days.
We wanted to take this opportunity to look back at the Steamboat real estate market from the beginning of 2020. January and February both saw an increase over 2018 with $50,735,354 in dollar volume in January, a 9.27% increase over 2018. February had $47,325,045 in dollar volume, while slightly less than January, this February saw a 34.78% increase in dollar volume over 2018.
Although dollar volume was up over 2019, the total number of transactions in January was down 11.11% from January 2019. This suggests that there is less inventory and a greater demand results in higher prices.
The mountain area accounted for $24,964,445 in dollar volume in February, 52.75% of the total dollar volume for February in Routt County. The mountain area also saw 28 transactions accounting for 41.18% of all transactions in Routt County. This is in line with the trend we have seen over the years in our real estate market with the mountain area being in higher demand than other areas.
The Porches Update
Here at The Porches we are thrilled to welcome two new fractional owners to our family as well as one whole owner as we head into the summer season. We look forward to having some new faces on the property and cannot wait to welcome them home.
$113,903,885 in dollar volume for December 2019, a 45.09% increase over December 2018.
$905,923,688 in dollar volume for 2019, a 4.46% increase over 2018.
The total number of transactions for 2019 were down 6.03% over 2018, while dollar volume was up which could be an indication of less inventory.
For more information on the Steamboat market or Porches ownership opportunities, contact The Porches sales team.