If you are in the market for a luxury home in Steamboat, you’ll be happy to hear it’s still a buyers market out there. While buyers purchasing at lower price points are frustrated with low inventory and multiple offers, buyers looking to spend $1M+ have plenty of inventory to choose from.
There were 46 Steamboat luxury homes above $1,000,000 that have sold this year which is almost identical to the number of luxury homes (47) that sold in the previous 12 months. Homes priced between $1M-$2M have the most sales, and as prices rise we are seeing more sales at the higher end of that range. (See the chart below.) With 66 homes for sale between $1M-$2M, there is a two year inventory of availability.
The opportunities get even better for buyers looking above $2M. There are currently 54 homes for sale >$2,000,000 even though only 12 homes have sold above $2M in each of the past two years. (That’s about 4 1/2 years of inventory.) If you’re a buyer, that should get your attention. There are deals to be made! The homes that sell best are concentrated in or near Steamboat in popular luxury neighborhoods like The Sanctuary, Strawberry Park, Lake Catamount, and the Burgess Creek area.