The Porches whole ownership residences

Over the past 6 weeks, there have been seven Steamboat luxury sales with four others going under contract to close at a later date.  All of the sales are within  Steamboat city limits in some of Steamboat’s most popular neighborhoods.

Steamboat home in Agate Creek Preserve

Steamboat luxury home buyers are back as buyers take advantage of price decreases to buy high-end properties. There are deals to be had as Steamboat luxury buyers–who recently bought properties for more than $1M–are seeing savings average 15% off the list price. Newer properties are selling best because savvy buyers know they can purchase a primary or vacation home for less than it would cost to build.

The inventory of luxury properties is dwindling and land purchases are becoming more common because buyers aren’t finding what they want. One luxury home in Strawberry Park listed for $4,900,000 is under contract after only a few weeks on the market showing the demand for premium residences.

If you would like to discuss what is available in Steamboat Springs, please call us at 970.819.6372 or search Steamboat luxury homes here.

One Steamboat Place

These Steamboat luxury properties represent those that have sold or gone under contract with asking prices over $1,000,000  between July 1, 2011 and August 15, 2011.  Now that One Steamboat Place is back on the market after a recent debt restructuring, four whole ownership residences and several fractional ownership residences are under contract and two closed last week.

The luxury home real estate market has seen a recent uptick in activity.   Reasons:  buyers are using cash they withdrew from the stock market before the recent instability; ski-in, ski-out buyers want to have a place purchased and furnished before the ski season starts to capitalize on rental income; prices have been reduced so that more buyers are looking–that place a buyer had their eye on may sell to someone else if they don’t buy now.

Search for your next property here, or call us at 970.819.6372 to discuss your real estate needs.

Current Steamboat luxury home buyers  have been watching the market and know the sold prices of recent listings.  They know–often more than sellers–when a listing is priced to sell.

For a list of the better single family home and land deals on the market, call us at (970) 819-6372.

June Steamboat Real Estate sales over $1.5M:

Commercial properties:

• $2,900,000 Comfort Inn.  This commercial property is used for lodging, is 24,382 SF and was built in 1995.  It has 2.44 AC Land Area.  PPSF is $118.94
• $2,600,000 Sleepy Bear Mobile Home Park.  This commercial property is located on 6.59 AC.  PPAC is $394,537.

Residential Properties:

• $2,500,000 26325 RCR #13.  320 acre ranch property in southern Routt County with 4 Brm 3 Bath, built in 1978, 1,560 SF.
• $2,376,000 0175 Deer Clover Lane in the Fish Creek Area – New Construction, 6 Brm 8.5 Bath, 7,847 SF on 1.02 acres.
• $2,050,000 32535 & 32545 McKinnis Trail in Fox Estates – 5 Brm 5.5 Bath, built in 2008 with 6,617 SF on 2.22 acres.
• $1,500,000 41975 RCR #36 –35.666 acre Vacant land parcel.

Steamboat Springs home and ski mountain

I was recently reading an article about high-end Aspen home sales (which have been even more non-existent than other resort real estate markets) and wondered if we’re seeing the same trends in the Steamboat luxury real estate market.  Aspen had five home sales between $13.75 million and $20 million since late December.  Two more are pending.  There are still 49 homes in Aspen for sale at prices above $10 million, so they aren’t exactly running out of homes to sell.

In Steamboat, our real estate prices aren’t quite so stratospheric although we are certainly seeing our share of buyers.  Since December, nine Steamboat luxury homes have sold above $2,000,000 with two more pending.

There are quite a few properties priced above $2,000,000 for sale in Steamboat.  If you are looking for a luxury home without the eye-popping price tag of a similar home in Aspen, it’s worth looking at a few.  Some of these Steamboat homes can be purchased at less than replacement cost making a luxury home purchase a good investment if you plan to hold–and more importantly, use–the home for several years.  Please call us at 970.819.6372 to discuss your options.

These are the Steamboat Springs properties over $2M that have sold (or are under contract) since December:

Lake Catamount in Steamboat

$3,490,000 The Porches whole ownership 2067 Indian Summer Drive – 5 Bedroom 5.5 Bath, 10,431 sq ft.  This home is two Porches residences combined into one with many unique upgrades.

$3,200,000 Lake Catamount – 30355 Harrison Trail – Gorgeous 4 Bedroom 6.5 Bath , 6,428 sq ft home overlooking Lake Catamount on 59.34 acres with a private dock.

$3,000,000 Graystone on the Green Subdivision (17 lots) aka 1305 Clubhouse Circle – 17 Vacant Residential Building Sites totaling: 7.188 AC Land.  This was a Bank Sale with a division of Fortress as the buyer.  Fortress owns the Steamboat ski area and is involved with several base area developments.

$2,900,000 Marabou Ranch – 43441 Elk Run – 4 Bedroom 3 Bath 3,296 SF Living Area on 6.73 AC Land.  This sale is located in the Elk River Area.

$2,400,000 Lake Catamount home at 30600 Lakeshore Trail–4 Bedroom 5 Bath, 5056 sq ft living area on .52 acres in the Lake Catamount Cabin area.

$2,210,000 The Sanctuary–Bank owned home at 2880 Golf Stream Court–5+ Bedroom, 5+ Bath home with 8424 sq ft on .50 acres next to Fish Creek.

Stats courtesy of Bruce Carta at Land Title.

Fish Creek at The Sanctuary

The Sanctuary in Steamboat Springs is one of Steamboat’s most popular luxury neighborhoods.  (Learn more about The Sanctuary)  There have been eight sales within the past year, and three of those sales closed in January 2011.

See all the homes for sale in The Sanctuary at Steamboat here or call 970.819.6372 for more details about purchasing a home in The Sanctuary at Steamboat.

The Porches Luxury Residences

These Steamboat Springs luxury homes have sold since October, 2010:

One Steamboat Place (whole ownership) Condo @ Apres Ski Way sold for $3,050,000 This One Steamboat Place residence is a new ski in ski out 4 Brm 4.5 Bath, 2,532 sq ft at the Steamboat Ski Area base.

Ledges Townhome at 2540 Ski Trail Lane sold for $2,350,000 – Short sale.  This luxury duplex was never occupied and is located directly beneath the gondola in the Steamboat Mountain Area.

Strawberry Park Area luxury home on 35 acres sold for $1,900,000 –33875 RCR #38

Elk River Ranch on 261 acres sold for $1,575,000– 25490 RCR #52E.  This 3 BR home was built in 1984 and included water rights.  There is also a small cabin on the property.

Anglers Retreat– 665 Creel Lane –sold for $1,525,000.  This Anglers Retreat home had an incredible lot and outdoor living area right on Fish Creek.  It has 3 Brm 3.5 Bath and was built in 2002.

The Porches–2069 Indian Summer Drive—sold for $3,490,000. This whole ownership Porches townhome was actually two side-by-side townhomes combined into one 10,431 sq  ft. ultra luxury residence unlike any other place at The Porches .  The original owners upgraded everything from the chandeliers from Europe to the zebra skin inlays in some of the built-in furniture to create an over-the-top masterpiece.

The average sold price of a Steamboat luxury home is  $1,630,000 in 2010 YTD with the highest priced luxury home selling for $4,300,000.

Average Days on Market was 250 days  to sell a Steamboat luxury home, condo, or townhome priced over $1M.

What is Selling in Steamboat Springs over $1,000,000:

• 60% are Steamboat single family homes
• 15% are luxury condos (Edgemont, Bear Lodge @ Trappeurs, Emerald Lodge @ Trappeurs)
• 26% are townhomes:
  • 27% have three bedrooms
  • 55% have four bedooms
  • 16% have 5+ bedrooms

Most popular Steamboat Luxury Neighborhoods (based on number of sales):

• Anglers Retreat—5 sales (sold prices ranged from$1,030,000-$1,525,000)
• The Sanctuary—4 sales (sold prices ranged from $1,050,000-$2,850,000)
• Dakota Ridge—4 sales (sold prices ranged from $1,250,000-$3,000,000)
• Stonewood at Eagle Ridge Townhomes—3 sales (Sold prices ranged from $1,060,000-$1,555,000)