Guide to Steamboat Springs real estate market

ski mountain at Steamboat Springs

Ski towns are seeing a surge in interest in the midst of the pandemic and Steamboat Springs is no exception. Located in Northwest Colorado’s Yampa Valley, Steamboat Springs is a historic mountain town with resort-style amenities, a laid-back vibe, and one of the best tree skiing experiences in the country. 

A home in a ski town often comes with a high price tag. But in Steamboat Springs, you get the best of both worlds. It’s more affordable than other Colorado ski towns and offers mountain living at its finest. 

Here’s a closer look at Steamboat Springs’ real estate market.

Steamboat Springs market overview

Steamboat Springs’ real estate market started off strong in 2020 and continued its meteoric climb throughout 2021. 

  • Home values

With the influx of people looking to buy Steamboat Springs real estate, it’s no surprise that prices of homes for sale here have shot up. As of December, 2021, the median sales price for a Steamboat Springs property has risen to $865,000, a 28.8% jump from December, 2020.

The real estate properties in Steamboat Springs, from single-family homes to townhouses, have all seen a significant increase in home values. The median price of a Steamboat Springs single-family home is $1,664,275 as of December 2021, which is 49.9% higher than the previous year’s median home price of $1,110,000. 

Condominiums in Steamboat Springs also had an increase in price, with the median price sitting at $592,500, a 33.1% increase from the previous year. Not to be left behind, home values for Steamboat Springs townhouses have risen as well. The median price as of the end of 2021 is around $839,500, a 23.4% increase from the $680,240 median price of the previous year.

Low inventory also led to the rise in home values for a Steamboat Springs real estate property. The number of active listings is down by 55%, putting the current number of active residential listings at 60. 

  • Average time on the market

It doesn’t take long for a Steamboat Springs home for sale to get taken off the market. In fact, it takes an average of only 7 days on the market before getting snatched up. This is a 72% decrease from the 2020 average, showing just how sought-after Steamboat Springs properties are in today’s market.

  • Property types

Those looking to buy Steamboat Springs real estate have a wide selection of single-family homes, condominiums, and townhomes to choose from. 

Steamboat Springs single-family homes exude grandeur, comfort, and beauty. You may expect gourmet kitchens, lofty ceilings, and open floor plans. Unbeatable vistas of the neighboring snow-capped mountains. Traditional, Craftsman, and Contemporary architectural styles are available.

They are spacious, fully equipped, and ideally positioned near the city’s many outdoor attractions. These properties also offer topnotch community amenities like swimming pools, hot tubs, and fitness facilities.

Market prediction for 2022

Despite the significant increase in prices for Steamboat Springs properties, the real estate market here shows no signs of slowing down. All these market trends are expected to carry over into 2022. Experts predict the market will continue to grow and improve as more buyers recognize the benefits of owning real estate in a ski town like Steamboat Springs. 

Ready to buy a home in Ski Town, U.S.A.? Talk to a Steamboat Springs real estate agent today!

 

By Arslan Shah

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