Market Update

BlogFamily walk 3

What a summer it has been so far in the Yampa Valley! The river is flowing, the wildflowers are in full bloom, and Steamboat has been bustling with visitors. We have experienced an increase in real estate interest and we are anticipating a busy fall as that is typically when buyers try to secure their home before the winter season.

As the winter 2019-20 season came to a rapid close, the real estate industry saw an astonishing 58.53% increase in gross volume of transactions in March over last year. Sticking with the usual trend, April can be a bit of a gamble for real estate sales, this year there was a significant decrease in gross dollar volume and number of transactions over April 2019. In May, the mountain area stole the show, accounting for 42.41% of the transactions for the month.   

While our spring numbers were not as strong as they might have been, the traffic that we have seen this summer has us hopeful that our summer numbers will be up from last year. From what we have seen, the mountain region of Colorado has seen a surge in interest. As buyers realize the importance of having a home outside of the cities to escape to, we have seen a rise in demand.

While demand is on the rise, inventory in Steamboat has continued to decrease steadily since fall of last year.

The Porches Update

We have had the privilege of both our whole and fractional owners using more of their time at The Porches this summer. It has been wonderful to see their families enjoy their home and create lasting memories.

Our Porches family has also continued to grow with the closing of two whole ownership homes and one fractional share so far this summer. With only two developer homes left in our inventory, we anticipate that it will not be long until we are sold out.  

March through May Numbers

$140,888,903 in gross dollar volume for March to May 2020.  

238 total transactions from March to May 2020.

The mountain area has accounted for $51,212,432 in dollar volume transactions from March to May 2020.

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