June sets real estate record in Steamboat despite COVID-19, bringing more primary homeowners to community – Steamboat Pilot and Today

This June and July have mostly been banner months for people from all parts of the country checking out Steamboat’s offerings and buying properties, according to Darrin Fryer, an associate/broker with Steamboat Sotheby’s International Realty. And it’s not just second homeowners coming into the community.
Tom Ross

STEAMBOAT SPRINGS — Negative impacts from the COVID-19 pandemic on the local real estate market may have been short-lived, according to local real estate experts.

The last six to seven weeks have brought a major boon to real estate in Steamboat Springs, bringing in buyers from around the country. It’s made up for a couple of stagnant months due to the pandemic.

Steamboat’s housing inventory remains low — a problem for buyers since well before the onset of COVID-19 — and prices continue to increase as properties receive multiple offers.

According to Colorado Group Realty, 132 properties on the market went pending in June, compared to just 38 in April when in-person showings were banned. The largest rise was in single-family home contracts, which were up 50% versus multi-family home contracts that were up 6.8%.

Through June, there have been a total of 414 transactions in Steamboat, totaling $273 million, compared to 543 sales for $329 million during the same period in 2019.

But it was June that really had an impact.

“In June, more properties went under contract than in any previous month in recent history,”

Global Real Estate

Author: Global Real Estate