 The Paoli Group Website | The Paoli Group Blog | Members As we enter mid March, we are starting to get more optimistic that our market could be seeing some price stabilization and inventory reduction. Generally speaking, last year Sellers were too high with prices and Buyers were unwilling to pay up for properties. When sellers accept prices dictated by the buyers, transactions are happening. As this scenario plays out, and inventory is absorbed, the market will begin to correct itself. It is important to note, buying property in Steamboat is not just an investment purchase it is a lifestyle choice too. This is one reason we see so many buyers looking for property today.This months newsletter is jam packed with data, so we will be brief and let you plow through the information. Some notable items to check out below: 1. The US Nordic team did incredible at the Vancouver Olympics. Click here for more information 2. The Highmark property announced it is auctioning it’s remaining 15 units on March 12th. Click here for more information 3. Intrawest was on the verge of being foreclosed upon and fortunately renegotiated it’s debt Click here for more information 4. Warren Buffett predicts U.S. housing woes to End in ‘Year or So’. Click here for more information 5. Colorado Group Realty 2009 year end market statistics. Check out the first page photo of the Steamboat Springs Nordic Combined athletes at the 2010 Oympic Trials held in Steamboat Springs. 6. Steamboat Springs 2010 Real Estate Market Report Summary for the month of January: • The Sales Volume of $49,807,800 was 209% of the January 2009 amount of $23,760,000! • The total units sold for this month was 62% of the previous January 2009. • 109 units sold for January was down from the 156 sold in December of 2009. • 69 of the units sold were from Fractional/Timeshares. • 157 loans were reported closed for the month of January. This includes refinances, seconds and any loan associated with a sales transaction. Notable sales for the month of January over $2M:
• 1/12/2010 $2,564,000 Edgemont Condo Unit 2701 – Listed in the Steamboat Mountain Area. • 1/7/2010 $2,629,000 Edgemont Condo Unit 2604 – Listed in the Steamboat Mountain Area. • 1/4/2010 $2,700,000 OSP Condo at Apres Ski Way Unit 413 – Listed in the Steamboat Mountain Area. • 1/6/2010 $3,524,000 Edgemont Condo Unit 2801 – Listed in the Steamboat Mountain Area. • 1/25/2010 $6,579,000 Village @ Steamboat Condo Project Transfer for multiple interests totaling: 18,000,000 interests in their terms. Sale shown in Sales by Area & IntervalFractional Portion – not used for Average Unit Price or Median Unit Price. January 2009 Market Analysis for Routt County Chris Paoli Amy Brown
Broker Associate/Broker Assistant to Chris Paoli 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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