Steamboat Springs October Market Report
September to mid-October, Autumn set in and the colors in Steamboat were amazing, especially during the full moon. We are now in our shoulder season, the time between Summer visitors and Winter visitors. It’s quiet, and our market has begun to show it.
Here’s the data for last month:
Looking at the numbers, year over year things have been pretty much flat. Though there is an increase in single family home listings, the number sold is similar. With the difference in days on market, I suspect those homes had good value over competing properties.
Reading data from across the nation, we are following suit to many markets, including Denver. Though interest rates are still low, so are wages and any upward movement in interest rates causes less affordability. The most interesting conversation I’ve had recently was when a new family was dismayed they could not get 3.5% for a loan. Though they still qualified for a good loan, but took a couple weeks to adjust to the market change.
In our bedroom communities, there has been slow down as well, with value priced homes and condos sitting on the market with little activity. The strongest sector is newer homes in Hayden that are priced at $300,000.
With Winter seasonality upon us, I wouldn’t be surprised to see the market remain flat, possibly trending down in some sectors.