Sellers are in the driver’s seat in Routt County with housing inventories down 50 percent from where they were at this time last year. Buyers looking to purchase in Steamboat, Hayden, Oak Creek and Clark should not be surprised to find themselves in a multiple-offer situation – no matter what price range they are in. As a county, the number of new listings for the month was equivalent to last year, but still down 17.4 percent year-to-date. To underscore the inventory situation, the current number of residential listings under contract in all of Routt County is 299 with available inventory at 239. Vacant land contracts have surged since May 30, with 55 out of 63 parcels executed during this time at an average list price of $455,888 and a median price of $305,000. The upper end market of $2 million plus realized 37 sales in 2019 and the market currently has 44 listings either under contract or closed in this price range.

Buyers with an understanding of the market are enlisting a broker who is actively looking for them. Some properties are going under contract with virtual showings with out-of-town buyers knowing time is not on their side. Typically, a seller would already have their property on the market for this prime selling season; however, we still see new listings trickling on the market.

Note: July 2020 statistics provided via the Colorado Association of Realtors, ShowingTime & ReColorado.