WHAT IS PROPELLING THE HOT MARKET?
Population Increase – Steamboat’s population is almost 13,000, which is a 23.2% growth rate since 2000.
Infrastructure – The Yampa Valley Regional Airport now offers direct flights to 17 major U.S. cities, which is more than neighboring mountain towns, including Eagle and Vail.
Local Neutral Employment – Steamboat is home to around 2,000 location-neutral workers. An increase in broadband speeds, shared office opportunities and resources are enabling workers to network, work from home and benefit from an active lifestyle away from cities.
Low Unemployment Rate– Steamboat’s Unemployment rate is 2.4%, compared to the national rate of 3.9%
Schools – Steamboat Springs School District RE-2 consistently places within the top 10 districts in the state making it attractive to families looking to relocate or remain in town and seek a large dwelling.
Alterra Mountain Company – The recent purchase of Steamboat Resort promises to be beneficial as more capital investments are made and the shared season pass, Ikon, brings more visitors.
Lifestyle Benefits – The Yampa Valley offers residents a healthy and outdoor lifestyle with the advantage of a strong community atmosphere, good restaurants and a thriving arts and culture scene that an international resort warrants.
Home values have been appreciating steadily in Routt County in a handful of market sectors and we are constantly asked what the driving trend is. In short, demand outweighs supply and the influx of people choosing to call Steamboat Springs home keeps rising.
Compared to 2017, the median sales price for a single family home in Steamboat increased by 12% in the first half of 2018; the price rose from $681,000 to $775,000. The median sales price for vacant land increased from $260,000 to $325,000 over the same timeframe. The same trend was noted for South Valley, the Elk River Valley and North Routt.
Although prices have stayed relatively constant for condos and townhomes, the average days on the market are 38% less in 2018 than they were in 2017.