When we begin to look at how real estate sales in 2016 compared with the year prior, we're seeing some interesting trends. All signs point to the market in Steamboat Springs and surrounding areas getting stronger.
Homes with under 1 acre saw 17 more sales in 2016 (207) than in 2015 (190), an increase of 9 percent. On average, these homes sold for over $85,000 more in 2016 ($632,790) than in 2015 ($546,334).
Homes with more acreage saw 13 more sales in 2016 (83) than in 2015 (70), an increase of over 18 percent. Homes in this category saw increased sales at the beginning and end of the summer buying season and the average sales price increased over 20 percent from 2015.
Homes and ranches in Routt County saw steady sales in 2016, with three sales over $9 million, compared to 2015's highest sale of $5.75 million. Routt county ranches are again catching the eye of high-end buyers.
Single family homes in Routt County spent fewer days on market in 2016, and even with historically low inventory for buyers to choose from, 10% more homes sold in 2016 than in 2015.