Happy opening day; the earliest one in the history of Steamboat Resort! As we wax and sharpen our skis and boards, we also enter into the winter months where real estate activity is historically much slower compared to the summer months.

Through October, total sales volume in Routt County remained healthy at just over $600M. 998 year to date transactions is 9% less than this time last year; however, the average size of a transaction continues to surge, now at $605K. This is quite the increase, up $85K from the $520K at this time in 2017.

Inventory (or lack thereof ) has caused these price gains. In Steamboat, inventory has held in a very tight range for the last two years, generally between 350-450 active listings. While the number of active listings usually dips in the winter and rises in the spring, inventory did recently fall to a two-year low of 336 listings. Homeowners are staying in their homes longer than ever, contributing to the national inventory shortage. People now stay in their homes an average of 13 years, up from eight years in 2010. Of course, finding an affordable move up or move down option often forces people to stay put longer.

Numerous big developments promise to add significant inventory to our market and continue to make their way through different stages of planning and build-out. Construction at Alpenglow Village, the 72-unit apartment complex from the Yampa Valley Housing Authority, is in full swing for completion summer of 2020. Activity in the 92-home neighborhood, Sunlight, is bustling while downtown’s RiverView roads and utilities are nearing completion. West Steamboat Neighborhoods, Overlook Park, Urban Street at the Mountain and other developments represent substantial boosts to inventory in Steamboat. Come chat with us about these projects; we’d love to share timing, pricing and other details with you.