STEAMBOAT SOTHEBY’S INTERNATIONAL REALTY2017 MARKET REPORT

MAIN OFF ICE 970.879.8100 | MOUNTAIN 970.879.7800 | DOWNTOWN 970.870.8885 | STEAMBOATS IR .COM

Data Excludes Timeshares, Fractionals, Land & Commercial

970.879.8100 | STEAMBOATSIR.COM

TOTAL $ VOLUME

2015

2016

2017 $716,814,922

$617,907,780

$529,517,380

TOTAL UNITS SOLD

2015

2016

2017 1,373

1,193

1,074

$1.1B

$1.0B

$900M

$800M

$700M

$600M

$500M

$400M

$300M

$200M

$100M

$0

2250

2000

1750

1500

1250

1000

750

500

250

0

$ VOLUME

UNITS SOLDLISTINGS

PRIC

E R

AN

GE

UN

ITS

SOLD

PER

CEN

T O

F U

NIT

S SO

LD

TOTA

L $

VOLU

ME

981561481201058163422759181279

10%17%16%13%11%9%7%4%3%6%2%1%1%1%

$14,213,050$39,630,218$52,032,630$53,896,183$57,722,744$52,847,220$47,657,225$35,832,451$26,032,900$73,119,142$30,534,360$27,220,000$19,550,000$45,225,000

Less than $200,000$200,001 to $300,000$300,001 to $400,000$400,001 to $500,000$500,001 to $600,000$600,001 to $700,000$700,001 to $800,000$800,001 to $900,000$900,001 to $1,000,000$1,000,001 to $1,500,000$1,500,001 to $2,000,000$2,000,001 to $2,500,000$2,500,001 to $3,000,000Over $3,000,000

$ VOLU

ME

LIST

ING

S / U

NIT

S SO

LD

156

98

148

105

9

27

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

42

7 1812

120

81

63

59

UP, UP AND AWAY! 2017 MARKET REWIND

One of the most notable trends of 2017 compared to 2016 was the total number of closed transactions, which went up 15%, from 1,193 to 1,373. Total dollar volume was at nearly $717M, up 11% over 2016. Double digit growth in both number of transactions and total dollar volume in a single year is compelling for Steamboat’s diverse market because it shows a positive trend across the board.

Listing inventory declined 20% from 2016, the seventh straight drop in the market year-over-year. This supply/demand scenario is generally indicative of modest price increases continuing in the near future. In 2017, the median sales price for residential properties increased

13% compared to 2016, from $377K to $425K. The average residential sale price in Steamboat in 2017 was $609K—lower than that of its neighboring western resort communities.

The market has been improving at a consistent rate since 2008, and while interest rates are creeping up, they do not typically have as drastic an impact on resort markets as in urban markets. Steamboat is finally seeing the emergence of new multi-family developments for the first time in almost a decade, with a handful of new projects set to break ground in 2018. Expect to see the market trends of 2017 continue throughout 2018, with increased activity in the luxury and land segments of the market.

ROUTT COUNTY PRICE POINT SUMMARY BY UNITS SOLDSingle Family Homes, Townhomes and Condominiums

REAL ESTATE SNAPSHOT – PAST 19 YEARSNumber of Listings, Units Sold and Dollar Volume

Information provided by Steamboat Springs MLS

970.879.8100 | STEAMBOATSIR.COM

MED

IAN

PR

ICE

MED

IAN

PR

ICEU

NIT

S SOLD

UN

ITS SO

LD

SURROUNDING COMMUNITIES – Single Family Homes, Townhomes and CondominiumsMedian Price Sold, Units Sold and Average Days on Market

MED

IAN

PR

ICE U

NIT

S SOLD

Median Price Sold Units Sold Median Price Sold Units SoldMedian Price Sold Units Sold

HAYDEN

2015 2016 2017

83 58145

NORTH ROUTT

60

50

40

30

20

10

0

60

50

40

30

20

10

0

60

50

40

30

20

10

0

$500K

$400K

$300K

$200K

$100K

$0

$500K

$400K

$300K

$200K

$100K

$0

$500K

$400K

$300K

$200K

$100K

$0

2015 2016 2017

276 144 207

STAGECOACH

2015 2016 2017

83 107103

AVG DAYS ON MKT

AVG DAYS ON MKT

AVG DAYS ON MKT

AVG DAYS ON MKT

AVG DAYS ON MKT

AVG DAYS ON MKT

AVG DAYS ON MKT

200

175

150

125

100

75

50

25

0

UN

ITS SO

LDMedian Price Sold Units Sold

MED

IAN

PR

ICE

SOLD

S INGLE FAMILY HOMES

2012

2013

2014

2015

2016

2017

200

150

100

50

0

$600K

$500K

$400K

$300K

$200K

$100K

$0

$900K$800K$700K$600K$500K$400K$300K$200K$100K

$0

UN

ITS SO

LD

Median Price Sold Units SoldM

EDIA

N P

RIC

E SO

LD

TOWNHOMES

2012

2013

2014

2015

2016

2017

500

400

300

200

100

0

$500K

$400K

$300K

$200K

$100K

$0

UN

ITS SO

LD

Median Price Sold Units Sold

MED

IAN

PR

ICE

SOLD

CONDOMINIUMS

2012

2013

2014

2015

2016

2017

70

60

50

40

30

20

10

0

$500K

$400K

$300K

$200K

$100K

$0

UN

ITS SO

LD

Median Price Sold Units Sold

MED

IAN

PR

ICE

SOLD

LAND

2012

2013

2014

2015

2016

2017

102 88136180

129148173159 337466420323

113 84117135152 118

155 172 228 216

169 140

$550

K

$550

K

$628

K

$711

K

$818

K

$818

K

$250

K

$256

K

$280

K

$305

K

$325

K

$370

K

$409

K

$418

K

$483

K

$223

K

$235

K

$263

K

$300

K

$247

K

$363

K

$410

K

$456

K

$484

K

$520

K

$495

K

$582

K

STEAMBOAT SPRINGS – Downtown, Fish Creek and Mountain AreasMedian Price Sold, Units Sold and Average Days on Market

$310

K

$202

K

$346

K

$364

K

$278

K

$250

K

Information provided by Steamboat Springs MLS

970.879.8100 | STEAMBOATSIR.COM

Above information provided by Steamboat Springs MLS

STEAMBOAT COMPARED TO OTHER RESORTSAverage Sold Price and Units Sold

Above information provided by individual Rocky Mountain MLS areas where a Sotheby’s International Realty office exists.

Age

ncy

B

Age

ncy

C

Age

ncy

D

Age

ncy

E

Age

ncy

B

Age

ncy

C

Age

ncy

D

Age

ncy

E

45%

40%

35%

30%

25%

20%

15%

10%

5%

0%

1000

900

800

700

600

500

400

300

200

100

0

UNITS SOLD IN 2017% VOLUME SOLD IN 2017

$1,600,000

$1,400,000

$1,200,000

$1,000,000

$800,000

$600,000

$400,000

$200,000

$0

2000

1750

1500

1250

1000

750

500

250

0

CONDOMINIUMS, TOWNHOMES & SINGLE FAMILY HOMES

UN

ITS SO

LD

Average Price Sold Units Sold

AV

ERA

GE

PR

ICE

SO

LD

Asp

en

Tellu

ride

Jack

son

Hol

e

Lake

Tah

oe

Vail V

alle

y

Park

City

Big

Sky

Ste

amboat

Sum

mit

Cty

Cre

sted

But

te

Sun

Valle

y

$4.33M $1.36M $1.40M $1.50M $1.13M $1.16M $814K $609K $700K $684K $682K

MARKET SHARE 2017Top 5 Real Estate Agencies in Steamboat

Steamboat Sotheby’s now has threelocations to serve clients’ needs.

NOW 3 LOCATIONS

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56 NINTH STREET

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