Sold Stats for the week of August 1, 2006 : "My Steamboat Connection" Real Estate Blog

"My Steamboat Connection" Real Estate Blog

Sold Stats for the week of August 1, 2006

After attending our weekly office meeting yesterday morning and the real estate board's multiple listing meeting and tour this morning, the message is the same: Sellers, now is the time to adjust your price if you are not getting the action you need or expected- especially if you have priced your property higher than your REALTOR recommended! Agent after agent announced price reductions and followed by saying "my seller really wants to get this sold by the end of September/November..." Although we do have an influx of tourists during our winter months, let's face it, properties are harder to show. Weather and snow make some showings challenging or sometimes impossilbe and rented units make much of the rest of the inventory very hard to show. Summer is winding down, kids are going back to school and snowfall is just around the corner.

If you REALLY need to sell quickly, now would be the time to consider reducing your price and you may want to go as low as 5% under comparable sales in your neighborhood or association. Since our market has had such huge gains, this may not be as bad as it sounds. Of course, it is imperative that your home is in top shape, clutter free and has exceptional curb appeal.

As previously promised, following are the SOLD stats for the week beginning August 1, 2006. The information below was gathered from the Steamboat Springs Multiple Listing Service. It is my goal to provide you with these stats on a weekly basis. The information is a general overview, if you would like more detailed information, please call me at (970) 871 -1157 Direct or Mailto: stacy@stacy-brown.com.

Average DOM is "Days on Market"

No. of Listings Dollar Volume Average Price Median Price Average DOM

RESIDENTIAL

    CONVENTIONAL 15 $10,909,063 $727,271 $345,000 458

    CASH 9 $4,608,435 $512,048 $385,000 197

Analysis by Area

1-DOWNTOWN AREA 1 $715,000 $715,000 $715,000 225

2-FISH CREEK AREA 3 $1,804,863 $601,621 $685,963 261

3-MOUNTAIN AREA 14 $6,273,135 $448,081 $284,950 492

4-STRAWBERRY PARK 1 $5,000,000 $5,000,000 $5,000,000 67

MOFFAT COUNTY 1 $370,000 $370,000 $370,000 55

OC PBURG YAMPA 1 $345,000 $345,000 $345,000 203

SO ROUTT RURAL 1 $298,000 $298,000 $298,000 281

SOUTH VALLEY 1 $510,000 $510,000 $510,000 75

STAGECOACH 1 $201,500 $201,500 $201,500 62

Totals 24 $15,517,498 $646,562 $377,500 360

LAND

    CONVENTIONAL 3 $152,400 $50,800 $38,000 72

    CASH 5 $547,000 $109,400 $81,000 189

Analysis by Area

GRAND COUNTY 1 $34,900 $34,900 $34,900 35

NORTH ROUTT 2 $147,000 $73,500 $73,500 244

OC PBURG YAMPA 1 $81,000 $81,000 $81,000 241

STAGECOACH 2 $96,500 $48,250 $48,250 53

W 40 CORRIDOR 2 $340,000 $170,000 $170,000 146

Totals 8 $699,400 $87,425 $73,500 145

Non Co-op Sales 7 $2,691,335 $384,476 $370,000 287

Co-op Sales 25 $13,525,563 $541,023 $262,400 312

All Sold Listings 32 $16,216,898 $506,778 $280,200 306

On average, these Properties are selling at 98% - 101% of Original List Price- which is very encouraging. This tells us that those properties that are priced right, are selling! Again, if you would like specific information on a neighborhood or condominium project, just contact me.