 The Paoli Group Website | The Paoli Group Blog | Members The Fourth of July weekend was a big hit, with the best fireworks show many locals have ever seen. Incredible! To help you stay on top of all the fun things happening, here is a link to a fairly complete calendar of activities. As you read through the stats for this past month, there are a number of under currents circling through the Steamboat real estate market worth noticing. While we are seeing an increase in transactions and volume over last year, we are also seeing a record number of properties fall into foreclosure.Here is a link to view sold transactions recorded within the Steamboat MLS system from May 1st to May 31st, Click Here to View Transactions . One interesting item of note is that 31 of the 42 transactions were below $500,000, 6 were between $500,000 and $1,000,000 and 5 were above $1,000,000. The average sale price was $447,395, with a median price of $319,500. Clearly the lower priced properties are gathering the most interest. While the number of properties on the market is increasing and interest in lower priced properties is obvious, just recently we saw a very positive sign from the Edgemont project at the base area. The Edgemont released a 30% price reduction for 3 condos only. Within the first week, these 3 all went under contract for close to $900/sqft. Obviously, there are buyers waiting on the sidelines for Steamboat to become more affordable, which is a good sign. Seeing the response by buyers to the Edgemont price reduction, combined with recent sales at the Highmark, we are optimistic that buyers are watching and waiting for what look to be good opportunities. Below is the monthly sales data provided by provided Bruce Carta of Land Title. If you have any questions or wish to discuss any of the items mentioned above, email or call 970.819.1432 All the best, Chris and Amy Summary for the month for May: There are a few trends this month; most noticeable is the really high number of Interval Sales – predominantly in Buildings 4 & 5 at The Village at Steamboat. The only notable concentration of Multi-Family project sales is in Highmark TH: • In May there were 7 Highmark TH Sales shown in the Steamboat Mountain Area • Gross Volume for Highmark: $6,062,000 • Average Price Per Unit: $866,000 • Average Price PSF: $453.69 There were less Bank sales this month, with only 4. Click here for spread sheet layout. • Total Volume for the month of May was $40,211,100 - $9,343,000 of that was from Interval/Fractional Units. • Total Units sold for the month was 190 which are the highest of any month of the year! • Of the 190 units sold 129 were from Interval/Fractional. • Volume YTD is up 217% from the same period last year. • Units sold YTD are up 158% from the same period last year. Notable sales for the month of May 2010: May 2010 Market Analysis for Routt County Chris Paoli Amy Brown
Broker Associate Colorado Group Realty, LLC Cell 970.846.2114 Fax 970.870.2803 amybrown@mybrokers.com
The Paoli Group Blog: www.steamboatcoloradorealestate.blogspot.com
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