“Season’s Greetings!” from your friends at The Group Real Estate! The Yampa Valley has been blessed with plentiful and fluffy dustings in the early season, amounting to over 130 inches so far! With great snow and new flights in to Yampa Valley Regional Airport this year, the holiday season is bound to be bustling.

Number of Active Listings Down From Last Month

As of December 12, 2022, Routt County has 138 active residential listings. That’s down from 143 this time last month, and down from this time last year (191). The number of listings currently under contract (29) is down from this time last month (55), and also down from this time last year (47). Closed listings county-wide are also down somewhat, with 46 last month compared to 91 in November of 2021. The average sale price county-wide is holding steady at about $1.3M.

Homes Still In High Demand

The average days before a property goes under contract is holding relatively steady compared to last month, at about 30 days county-wide. Price-per-square-foot has actually increased, from about $610/sqft to $705/sqft in the City of Steamboat. Over the past year, the ratio of asking price to closed price was 100.22% (meaning that homes sold, on average, slightly above asking price). The closed price ratio is holding steady to last month at about 97%, meaning that homes sold, on average, slightly below asking price. Sales in the 90ish percent range are still close to asking price, meaning that homes are still in high demand.

Not As Bleak As It Appears

If we just focus on the past few months, one might think the outlook is bleak. After all, interest rates are higher than they have been, closed price ratio is down, days on market is increasing . . . But if one zooms out, one sees just how far our mighty valley has come: In December of 2017, the average closed price county-wide was $682K, and average price-per-square foot was $315; in December of 2019, the average closed price was $800k, and average price per square foot was $335. Average days in the MLS was 81 in 2017, and 65 in 2019. We’ve come a long way in a few short years!

Ultimately, whether you’re considering buying or selling, our agents are expertly trained in helping you zero in on what makes the most sense for you and your family. We’re here to help you with any and all of your questions. Give us a call to find out how.