Well, as they say, August is like the Sunday of Summer! It sure did bring a surprise with new listings in Routt County up over 61 percent for single-family and over 67 percent for multi-family. So, what happened? For one, the market is seeing sellers who decided not to list in May and June because of COVID concerns, reconsider and list their properties due to the active market. Even with the increase of new listings, there is not enough inventory to meet the demand. While YTD listings are down 9 percent from last year, September also seems to be off to a good start with new listing activity. Not all sellers are leaving this beautiful valley; there are many who are cashing in on their equity, listing their homes and buying another home in the Yampa Valley. The average sales price in Steamboat Springs is $1,278,219 for a home and $581,551 for multi-family; fortunately, more affordable housing options are available in Hayden, Oak Creek/Stagecoach and Clark/Steamboat Lake.

The $2 million-plus upper end market continues to flourish with 55 homes either under contract or sold compared to 37 sales in 2019. The Steamboat ski rea is opening with extra COVID precautions on November 21. As Steamboat Resort seeks approval for a 650-acre expansion making it the second largest Colorado ski resort and construction of the longest gondola in North America (the Wild Blue Gondola), a real estate investment in the Steamboat Springs area looks to stay promising.

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