Buying real estate in many markets including Steamboat, is kind of like playing the game, The Price is Right. Given the multiple offer scenarios, the Seller is certainly determining which Buyer-contestant has the right price.  The biggest disparity is that in the game, whomever comes closest to the price without going over wins; whereas, with current real estate conditions, if you are not bidding over the (list) price you are likely going to lose.  Two single-family home sales over $10M skewed the average sales price to over $2M with the median sales price sitting at about $1.3M with days on market at 35.  New listings were basically the same as the prior year, however, the townhouse-condo market saw an increase of 71%, which was devoured by the insatiable buyer demand resulting in a 200% increase in pending sales.  The average sales price for multi-family was $846,918 in April with the median $715,000 and days on market at 23 days! The record low days on market reflects the high number of cash transactions and Sellers taking a sure thing without appraisal delays or possibilities of appraisal objection- even though a buyer may be willing to absorb the appraisal gap. Active listings for single & multi-family were a low standing inventory of 45 for each category with a month or less supply.  May & June typically bring a new crop of listings and we look forward to those just as we look forward to the new buds and flowers spring brings.  As Edwin Way Teale said, “The world’s favorite season is the spring. All things seem possible in May.” It is possible to buy a home in the Yampa Valley – retain an experienced and dedicated real estate broker for your best chances of success and while competing might be stressful, keep your eye on the prize!

Note: April 2021 statistics provided via the Colorado Association of Realtors, ShowingTime & ReColorado