Colleen's Corner - Steamboat Real Estate Blog

Your source for info on buying and selling Steamboat real estate, and living in this beautiful part of Colorado.

 

Aug. 21, 2019

2019 Mid Year Market Report

MARKET OVERVIEW

The Steamboat Springs and Routt County real estate market remained strong through the first half of 2019. Total residential sales volume in Routt County was at $275 million through the end of June, an 8% increase over the same time frame in 2018. Total sales volume was $295 million, up 4% year-over-year. In the residential segment of the market, there were 382 properties sold, almost exactly the same as the 384 that were sold through mid-year 2018. Despite an even number of transactions, the increase in sales volume can be attributed to an overall increase in property values. The median sales price for a residential property in Routt County went from $470,000 through mid year 2018, to $498,000 in 2019—an increase of 6%. View the full report here.

 

The market continues to see upward pressure on values due to
a lack of inventory in many segments, coupled with sustained demand from buyers—a classic supply vs. demand scenario. However, as we move into the second half of the year, demand and supply may be leveling off closer to equilibrium in some segments of the market. That will result in pricing pressures being diluted for many buyers, while sellers will continue to enjoy the advantage of an overall tighter housing supply. The macro-market conditions and trends noted above are a very high-level view, including all different types of properties throughout Routt County. The micro-market reports on the pages that follow are designed to break down the trends and statistics into smaller areas, by property type. This helps give you greater insight into the market conditions in specific segments that are relevant to you. The Steamboat real estate market is complex and extremely varied, based on a multitude of factors. Our team of real estate professionals is here to help you decipher exactly how market conditions, trends and stats pertain to you. Give us a call! View the full report here.

 

 

April 11, 2019

SUPPLY OR DEMAND? WHAT TURNED IN 2018

 

 

 

With a healthy national, state and local economy and eight years of steady growth in transactions that averaged a 15% increase year-over-year, why did the 2018 Steamboat Springs real estate market see a drop in transactions of 7%? A quick answer would be “Demand has dropped”. However, this drop of transactions may not be due to a reduction in demand, but a reduction in supply to meet demand. View the entire PDF of the 2019 report Here

Doug Labor, Broker Associate and Manager of the Steamboat Sotheby’s International Realty downtown office, breaks down the 2018 statistics and what they mean for buyers and sellers as we look forward to 2019.

In 2017 the Steamboat Springs Multiple Listing Service posted 1,373 transactions; fourth best recorded and highest since the 2008 crash. The 2008 market crash brought on a rash of listings in 2008, 2009 and 2010. It wasn’t until buyers started coming back in the market did the number of listings decline. From 2010 to 2016 listings declined 7% annually. However, in 2017 that percentage tripled to -21%, setting a stage coming into 2018 of the fourth lowest number of listings the MLS has seen.

Despite transaction decline, dollar volume increased 6% to $761 million; the second best in Steamboat MLS history. This is only the second time since 1996 this phenomenon occurred.

Less inventory led to less buying opportunities, and less buying opportunities led to fewer transactions in 2018. If lower demand was the reason, a reduction of property values would have been the result. However, the average price of all properties sold in the Steamboat Springs MLS increased 13% from 2017 to nearly $600,000; the second highest on record.

 

 

March 12, 2019

2018 RESORT REPORT

How Does Real Estate Compare in Resort Markets?

Living in a resort community offers a unique and attractive lifestyle, abundant with scenic views, recreational opportunities, and like-minded people. Buying and selling real estate in resort communities is unlike most transactions, which is why Steamboat Sotheby’s International Realty, with the help of other SIR affiliates, compiles a Resort Report focused on these one-of-a-kind communities. The Annual Resort Report analyzes 2018 year-over-year data from 12 prominent resort areas throughout the western half of the United States to inform consumers about the resorts’ performance, and what makes each one unique. There are many factors that can impact real estate in these resort communities, including the changing seasons, available amenities, transportation offerings, and shifts in employment. Representing an increase in demand for a resort-driven lifestyle, most of these communities reported an increase in average sold price and average sold price per square foot, in combination with a decrease in average days on market. Understanding the market is a critical piece to real estate success for both buyers and sellers. The 2018 Resort Report is assembled as a detailed resource for consumers to make informed decisions about their financial future.

“The Steamboat real estate market saw one of its strongest years on record in 2018, with increases in average sales price, sold price per sq.ft. and total dollar volume. Avg. days on market declined by 24% and total properties sold declined by 5%, driven largely by the limited inventory. The Steamboat real estate landscape is quite diverse, with major differences between the micromarkets. And for the first time in over 10 years, new developments are on the horizon. Still, Steamboat Springs presents great value for buyers in an authentic, friendly resort community.”

-Pam Vanatta
Owner/Broker, Steamboat Sotheby’s International Realty

 

 

Jan. 30, 2019

SUPPLY OR DEMAND – WHAT TURNED IN 2018?

 

With a healthy national, state and local economy and eight years of steady growth in transactions that averaged a 15% increase year-over-year, why did the 2018 Steamboat Springs real estate market see a drop in transactions of 7%? A quick answer would be “Demand has dropped”. However, this drop of transactions may not be due to a reduction in demand, but a reduction in supply to meet demand.

Doug Labor, Broker Associate and Manager of the Steamboat Sotheby’s International Realty downtown office, breaks down the 2018 statistics and what they mean for buyers and sellers as we look forward to 2019.

In 2017 the Steamboat Springs Multiple Listing Service posted 1,373 transactions; fourth best recorded and highest since the 2008 crash.  The 2008 market crash brought on a rash of listings in 2008, 2009 and 2010. It wasn’t until buyers started coming back in the market did the number of listings decline. From 2010 to 2016 listings declined 7% annually. However, in 2017 that percentage tripled to -21%, setting a stage coming into 2018 of the fourth lowest number of listings the MLS has seen.



Despite transaction decline, dollar volume increased 6% to $761 million; the second best in Steamboat MLS history. This is only the second time since 1996 this phenomenon occurred.

Less inventory led to less buying opportunities, and less buying opportunities led to fewer transactions in 2018.  If lower demand was the reason, a reduction of property values would have been the result. However, the average price of all properties sold in the Steamboat Springs MLS increased 13% from 2017 to nearly $600,000; the second highest on record.

Although there were not as many 2018 transactions as 2017, there were some very interesting ones.  Following are some of the most notable sales and occurrences this past year:

Single Family Homes
SF homes typically represent about one-third of all MLS transactions.  377 single family homes were sold in 2018 at a median price of $585,000 and $259/square foot. Dollar-per-square-foot is an industry benchmark that equates to a price a property is valued, depending on its square footage size. Steamboat had 188 transactions with a $762,500 median price and $404/sf.  Although median price in Steamboat went up only 9%, median $/sf price went up a substantial 36% from its 2017 price of $298.

The highest priced single-family home (non-Farm & Ranch) was a 9,792 sf, 6 bedroom (br), 10 bath (ba) home on 9 acres (ac) adjacent to the Catamount Golf Course that sold for $4 million. It was originally listed for sale in 2007 at $7,895,000.  The least expensive home that sold was a quaint, 2BR/1BA, 700 sf home in Oak Creek on a .11-acre lot and sold for its $135,000 list price.

Slate Creek Ranch, located just north of town on Highway 129, captured the award for highest ranch sale. The ranch consists of 1,145 acres, stunning scenery, valuable water rights, intact mineral rights, excellent wildlife habitat, public land adjacency, stream-fed ponds, paved road access and usable improvements. Listed at $16.9 million, it sold via auction at $10 million.

Condominiums
The second most popular property purchase is a condominium. 2018 saw 310 condos snatched up, with all but nine in Steamboat. This was a substantial 14% from the prior year, most likely due to lack of inventory. Median Price in Steamboat was $365,000 (+4%) and $/sf was $371 (+9%).

One Steamboat Place was home to the highest priced condo sale, at $2.4 million, or $955/sf, at 2,513sf.  The slopeside, 4br / 4ba residence comes with yearly HOA dues of $46,101, but some of the finest services and amenities one could want. Walton Village had the least expensive condo sale at $152,000 for a 1br/1ba, 565sf ground floor unit.

Town Homes
Town homes fill the niche between condos and single-family homes, with 179 selling in 2018 and 159 of those in Steamboat. Steamboat $/sf values remained steady at $310, and median prices increased 4% to $600,000. Stagecoach, about 17 miles south of Steamboat, enjoys a good amount of townhome interest with 14 in 2018 and at a median price and $/sf value of $259,000 (+12%) and $179 (+14%), respectively.

Winning top town home honors was a ski in / ski out 6br / 7ba, 5,956 sf Ski Trail Lane home at $2,375,000. It also featured a top floor master with fireplace, home theater, fitness room and wine cellar. Glen Eden Resort, in Clark is home to a 2br/2ba, 837 sf townhome alongside the Elk River that holds the lowest priced sale at $105,000. Although Glen Eden zoning prohibits full time residency for its owners, it allows plenty of time for a second home owner to enjoy the fishing, pool, tennis, restaurant and bar onsite, and spectacular wilderness and recreation surrounding the property.

Land
Overall land transactions in 2018 declined 13% to 209. This is most likely due to the substantial drop in Stagecoach sales, which went from 72 to 34 (-53%).  Looking closer at Stagecoach shows the inexpensive (and nearly impossible to build on) parcels priced under $10,000 went from 30 sales in 2017 to a mere 9 in 2018. One would think the lack of housing inventory would help land sales. However, building costs, could be prohibiting sales. Generally, it is still less expensive to buy an existing home than it is to build. Steamboat Springs lot sales increased from 70 to 74 (+6%), yet median price substantially increased 33% to $327,000.

Upon first blush it appears the market is levelling off. Further investigation, however, suggests demand remains strong, but supply is short. Median days on market supports this thought, dropping over the past five years from 96, 91, 77, 70 to 49. Absorption rates similarly support this theory, moving from 64%, 70%, 82%, 119% to 116%. Some relief is in sight with new developments, but finished product is still far down the line, adding more pricing pressure for upward movement.

Nov. 6, 2018

STEAMBOAT SPRINGS MARKET ROUND-UP

 

We’ve had some surprising shifts in our market in 2018 through the first 3 quarters of 2018. Like all markets, pricing and volume is dictated by supply and demand. In a real estate market, supply is the inventory, or number of listings on the market. Demand is the number of transactions, or absorption of the available listings.

We sat down with Doug Labor, Steamboat Sotheby’s International Realty broker, manager of the downtown office on 9th Street and local statistician, to get the run-down.

Through the 3rd quarter of 2018, the market carried the 3rd lowest number of listings in the history of the Steamboat Springs Multiple Listing Service (dating back 1985). The 1134 listings for the first three quarters of the year post a 7% decrease from the same time period in 2017.

Surprisingly, in a highly active market, transactions dropped 9% when compared to the same period in 2017, to 960. This is most likely due to the limited availability of properties. In theory, if there were more listings, then there would have been more transactions.

Days on market, which is a benchmark most real estate practitioners use to help measure demand, was noticeably shorter. However, brokers agreed that it is taking longer for buyers to find properties than in the immediate past, due to the low supply.

Dollar volume increased 2% year over year, to $573M, which was the second highest in MLS history.

The dynamic between listings (supply) and transactions (demand) is what is referred to as absorption rate. Absorption rate is tracking at over 120%, meaning that there is more product being consumed than what is being added to the market.

Because of supply not being able to meet demand, property values and the average purchase price have gone up. The average purchase price jumped an amazing 12% year over year, to almost $600,000, the 3rd highest that the market has seen.
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Aug. 9, 2018

How's The Market

That is the million dollar question. While it is true that the Denver Metro area is experiencing a very hot seller’s market, other areas around the country, such as some cities in the Pacific Northwest, report that the market is showing some signs of cooling off. So what is happening in Steamboat Springs and Routt County? The answer may not be as cut-and-dry as one would think. In a rural market and more importantly, a resort market (of which Steamboat Springs and Routt County are both), the answer depends on many factors that cannot be considered or evaluated by looking at basic statistics or isolated sales data. One segment of the market may be very “hot”—a full-blown seller’s market—whereas other segments may be slow, stagnant, or possibly declining. So it is too simple a statement to say that Routt County’s real estate market is “hot.”

Generally speaking, Routt County is experiencing a very active market that is preferential to sellers in most categories. This is especially true in the single family home market, and for properties priced under $1M. The median sales price for single family homes in Steamboat increased 12.1% in the first half of 2018 when compared to the same time period in 2017 – from $681,000 to $775,000. In fact, the median sales price for single family homes in every area around Routt County has increased when compared to 2017. However, for homes priced over $1M, there are more listings and fewer sales – more supply than demand. So while we see values continuing to increase at a nominal rate with each sale that occurs, the absorption rate, or number of months that it will take for every property currently listed to be sold, is much higher for properties in the higher price ranges.

View the Full 2018 Mid Year Market Report

With property values increasing and accompanying inventory being depleted across most categories, there has been an increased interest in vacant land properties. In Steamboat Springs, the median sales price for vacant land went from $260,000 in January–June 2017, to $325,000 in 2018—an increase of 20%. We saw similar trends throughout most of Routt County, with median sales price in the South Valley Area increasing from $325,000 to $397,000 (+18.1%), and in the Elk River and North Routt areas from $160,750 to $219,000 (+26.6%).

Building costs are running approximately $350/sf to $500/sf, depending on quality, location and design. The condo and townhome markets have stayed relatively flat in Steamboat Springs, showing an increase in median sales price of 4.2% for condos, and 1.9% for town- homes. However, the average days on market for condos and townhomes has decreased substantially, down 38.5% for condos in the first half of 2018 when compared to 2017. Unlike more urban areas where there are many transactions and a property’s value can be fairly easily determined by looking at recent sales in the neighborhood/subdivision, the types of properties within a certain subdivision or area in Routt County can vary widely.

Property type, location and condition, as well as comparable properties, motivation of the seller to sell, and price point all influence value. With relatively few transactions in a given month, these variables and lack of sales can have a significant impact on the market value of the property. The information presented in these micro market reports will better help tell the story of current real estate market conditions in Steamboat Springs and Routt County, but there is no general answer to the question: “How’s the market?” Accurate analysis requires the skill and knowledge of a professional who is well-versed in all of the intricacies and nuances that exist in a rural and resort market like ours.

 

 

June 5, 2018

New Land at Grassy Creek

STEAMBOAT SPRINGS — Grassy Creek at Mount Harris represents a rarity in the current Routt County real state market. It's a rural subdivisions offering  35-acre-plus homesites in a gated community at prices from $151,00 to $226,00.

Narrowing the property search to include  a subdivision within 4 miles of a commercial airport with a long list of direct flights in ski season, makes Grassy Creek stand out even more.

Steamboat Sotheby's International Realty Steamboat Springs broker Michael de Jong observed that Grassy Creek would be an ideal place for private pilots and aircraft owners to build a retreat within 25 miles of Steamboat Ski Area.

The first residential construction of a 3,036-square-foot home is scheduled for this year at 36625 Aspen Bluff Terrace.The terrain in Grassy Creek is mountainous, but instead of being forested with aspens and evergreens, the landscape is covered with sage, montane shrubs and wild grasses. Shale escarpments slice through the hills.

 



De Jong and his wife, Colleen, have listed 19 lots in the subdivision on behalf of a limited liability company, OP Adventure Properties. In all, there are 40 35-acre homesites on the total 1,500 acres. There are currently six lots listed for sale, with a future release to come.

"We're pitching it for all the reasons buyers seek out 35-acre parcels (privacy, views and quiet), and want the amenities of asphalt roads and electricity to the lot lines, all about 25 minutes form Steamboat with no mountain passes and a solid HOA," he said.

And then, there is the wildlife viewing and limited big-game hunting Grassy Creek affords. Grassy Creek's rolling mountainous terrain is etched with sandstone escarpments and covered with the native shrubs that attract large numbers of elk and mule deer. Mountain lion sightings on the property are not a rarity.

De Jong explained the principal in OP Adventure Properties is offering property owners a lottery for autumn hunting privileges on his land.





Cyclists will enjoy 7 miles of rolling paved roads in the neighborhood, not to mention numerous mountain bike routes.

He acknowledged that Grassy Creek went through a rough stretch beginning in 2004 and 2005 when lending banks took over some of the lots from early buyers. The Oregon-based construction company that built the subdivision roads and put in some of the infrastructure, ended up owning a number of lots.

The principal in OB Adventure Properties was one of the original buyers and believed in the project enough to acquire those lots from the contractor, de Jong said.

Lot owners will need to arrange to have water wells drilled and septic systems built in connection with building a home at Grassy Creek. Thus far, de Jong said, two of three wells drilled in the development have produced good water.

Maintenance work that has taken place at Grassy Creek in 2018 includes new electronic gates at each of the entrances, road sealing and improvements to drainage on the roads.


Contributed By:
Tom Ross, call 970-871-4205, email tross@SteamboatToday.com or follow him on Twitter @ThomasSRoss1.

March 15, 2018

Executing the Perfect Move: A Guide for Those with Disabilities

While moving is an often stressful and irritating endeavor for most people, the task takes on a new level of challenge for people with disabilities. Simple tasks like taking a walkthrough of a potential new home, packing, lifting boxes, and unpacking/organizing are rendered somewhere between an annoyance and impossible if a physical disability is hampering your mobility and functionality. The end result of moving to a new place, however, can be exciting. For those with disabilities, executing the perfect move is all about preparation and knowing when (and how) to get some help. Here are some tips.

 

Finding the right property
When it comes to finding the right new home, there are basically two things you must figure out. First, what is my perfect property? And second, how do I find it once I know what I’m looking for?

Think about your disability. What limitations does it have? You may want to look for a one-story home if stairs give you trouble. You may want to buy a home that has a small yard, as keeping up with a large property could prove too taxing. Think about your financial situation. How much money do you have for repairs/renovations? The more money you have to spare, the less “complete” your new home has to be. You can modify your home to suit your particular disabilities. If you don’t want to spend a lot on home modifications, you’ll need to find a home that you can live in comfortably from day one.

Though physical walkthroughs can be taxing and difficult for those with disabilities, the internet lets us take virtual walkthroughs of most on-sale properties. Sites like Zillow, Redfin, and Trulia are great resources for you. Beyond that, look for your local real estate sites - they may be more detailed.

 

Consider financial help
Moving expenses add up - especially if you plan on hiring some help (which you should). There are organizations out there that provide financial assistance in the form of grants for some with disabilities preparing to move. These grants can cover the costs of movers, house cleaners, and packing specialists. National Institute on Life Planning for People with Disabilities and ADAPT are two such organizations to check out.

 

Packing and moving
Once you’ve found your new home and signed the paperwork, it’s time to think about your move. It’s daunting, yes, but it can be managed with a little help. The benefits of hiring a moving service are numerous. For one, you don’t have to risk injury. Also, professional movers can complete a job in a fraction of the time it would take you. Movers have experience transporting large and fragile items, so you’re actually less likely to wind up with broken and damaged possessions when you outsource the job.

Movers are a no-brainer, but so too are packers. Reputable packing services can smartly and efficiently box up your various belongings in much less time (and effort) than it would take you. We’re talking hours vs. weeks here. Just compare rates before going with a particular service.

 

Unpacking, organization, and settling in
If you think moving is daunting, wait until you get into your new home and have to unpack and organize everything! Here’s the golden rule: unpack one room at a time. You need a plan of action and it works better if you go at it in an organized manner. Complete an entire room before moving on to the next. If you need some help, ask friends and family. Take it slow. You have all the time you need.

If you take two things away from this, then let it be preparation and help. Take advantage of the many services available to assist you. Moving doesn’t have to be excruciating. In fact, moving into a new, more manageable home can give those with disabilities more freedom to live their lives independently.

Article contributed by
Patrick Young of Able USA
patrick@ableusa.info

 

 

Feb. 6, 2018

2017 MARKET REWIND – UP, UP & AWAY!

There’s no question that heading into 2018, the Steamboat market is healthy and only getting stronger as major market trends point to double-digit growth in transaction and dollar volume. With a demand that clearly outweighs the supply, the market shows no signs of slowing down. As new construction and renovation projects are on the rise, even more encouraging is that appreciation of existing residential homes is the strongest it’s been in recent years, a sign that the Steamboat economy is healthy overall.

We gathered some data from Doug Labor, Broker and Manager at Steamboat Sotheby’s International Realty, then caught up with David Baldinger Jr., Steamboat Sotheby’s International Realty Owner/Broker to take a look back at the market trends in 2017 and to find out what they mean for the outlook as we head into 2018.

Total transactions and dollar volume are up.
“The most compelling trend of 2017 compared to 2016 was seeing that our transaction volume, or the total number of closed transactions, went up about 14%, which is a really good sign,” Baldinger Jr. says. “It’s a similar trend from the previous year, but it didn’t drop or fall flat; it’s gone up and it’s strong, double-digit growth. That’s what we look for in a healthy market.” There were 1,193 transactions in 2016 and 1,363 in 2017.

“Our dollar volume is the highest it’s been since the financial crisis eight years ago, and it’s up 11% from 2016. To see that kind of double digit growth in a single year is compelling for Steamboat’s diverse market because it shows a positive trend across the board,” Baldinger Jr. says. He points out that statistics don’t always tell the whole story of Steamboat’s market because part-time residents and vacation homeowners in a resort market behave differently than full-time residents in an urban market might. There is also a vast disparity in property value, location and type throughout the Steamboat market, from ski-in/ski-out condos and luxury single family homes to high-dollar ranch properties. So, while the numbers don’t lie, they do require a little more fine-tuned analysis and interpretation (which is what we’re here for).

Demand is up. Supply is down.
“Inventory has gone down by 20%, which is generally indicative of a modest price increase coming in the near future, as the demand might drive the prices up somewhat,” Baldinger Jr. says. Because of the limited supply of houses on the market, new construction and renovations are on the rise, especially for properties $1 million and up. “That’s a big change from a few years ago,” Baldinger Jr. says. “When we see a lot more home starts and remodel projects, that’s usually also indicative of a slightly rising home market.”

The residential housing market is up.
“The residential housing market for homes under $800,000 was very active in 2017,” Baldinger Jr. says. “These are families and full-time residents who are seeing significant appreciation on their properties in all areas, including on the mountain, Fish Creek, downtown and West Steamboat.” Baldinger Jr. says there has also been a high volume of sales in those areas with continued low inventory, an encouraging sign that the Steamboat economy as a whole is thriving.

“Values saw a double digit increase in 2017, which means everyone’s home is close to 10% more valuable than it would have been in 2015 or 2016, which leads to an overall optimistic outlook. It’s reflective of the local economy and the business market.” Baldinger Jr. adds that Steamboat has advantages over other mountain towns because of its geography – a wide, long, valley that allows for a more diverse offering of real estate that’s still relatively affordable compared to other markets.

Significant Sales in 2017.
In the residential segment of the market, there were 104 sales over $1M in 2017. Of those Steamboat Sotheby’s International Realty participated in 73% of the transactions, and represented both buyer and seller in over a quarter of the transactions.

The sale of Wildflower Meadows, a 155-acre property with 10,000+ sq.ft. estate home just minutes from downtown Steamboat, marked the highest residential sale of the year, and in the history of Steamboat, at a price of $9M on January 31, 2017. Steamboat Sotehby’s International Realty represented both buyer and seller in the transaction.

This ranch in the Elk River Valley sold for $9,790,000, making it the highest sale in Routt County in 2017. Meg Firestone of Steamboat Sotheby’s International Realty represented the buyer.

The sale of 1900 acres in the Elk River Valley on January 6, 2017 at a price of $9,790,000 marked the highest sale of the year in Routt County. This ranch property had not been offered for sale in almost 40 years, and Steamboat Sotheby’s International Realty represented the buyer in the transaction.

For a complete list of significant sales in Routt County in 2017, or to find out about current opportunities, contact your broker at Steamboat Sotheby’s International Realty.

The de Jong Team with Steamboat Sotheby's International Realty
Colleen de Jong (970) 846-5569    |   Michael de Jong (970) 846-3661   Cristin Frey (303) 912-7557

Click Here to view of PDF of the 2017 Annual Market Report

Jan. 15, 2018

New Construction Never Looked so Green

Chadwick Flats

Ski Town USA™ (yes that is actually the registered trademark of Steamboat Springs) has come a long way from its former years of sports bars with Western themes. Nestled along the Yampa River in northwest Colorado, the town has seen a recent renaissance, bringing an array of new après-ski bars, haute cuisine restaurants and late-night haunts, as well as upscale lodging options such as One Steamboat Place, that rival those found in Vail or Aspen.  Steamboat also boasts 165 named ski runs, the driest snow in the state and the crowds no where near the size of those you’ll find in Winter Park or Summit County. And this off-the-beaten-track resort town is still affordable, all things considered.

 

Just 3 years ago, a 1,500 square foot, ski-in/ski-out condo in Steamboat averaged about $724,000.  Today that same slopeside condo would likely sell for 11% higher or $800,000 based on price per square foot. But those numbers are still very modest compared to the cost of a similar property in Vail or Aspen (about $2.9 million). For those who seek a getaway with the modern sleekness of new construction and the amenities of a thriving resort town, Steamboat offers an excellent option, at a fraction of the price point of its neighboring resort towns. 

 

Located about 2 minutes from the slopes of the Steamboat Ski Area, Chadwick Flats is one of the town’s newest and greenest developments. The brand new, high-end 5 bedroom, 5 bath residences feature panoramic views of the stunning landscape of the Yampa Valley, luxurious finishes, gourmet kitchens, 2-car garages and door-to-door shuttle service.

 

Steamboat’s first multi-family project to receive both the Steamboat Green Building Program and ENERGY STAR certifications, the homes are designed and built to efficiency standards well above most other homes on the market today, resulting in savings of up to 30% on utility bills. Ideal for the environmentally conscious consumer who wants to reduce their footprint, one of the unique aspects to the project is that 3 solar panels at the solar garden in nearby Craig, CO are allocated to each owner at Chadwick Flats, as part of a collaborative project of the Yampa Valley Electric Association and Clean Energy Collective, a Louisville-based solar energy company.

 

Phase 2 is set to break ground in the spring and there is currently a furnished model ready to tour. In 10 years you could be saying, “Woulda, coulda, shoulda …,” or you could be skiing champagne powder through carved aspen glades just minutes from your dream home.

 

The last residence in phase 1 st Chadwick Flats is currently offered for sale at $1,649,000.

 

Chadwick Flats is exclusively represented by Colleen de Jong at 970-846-5569 colleen.dejong@steamboatsir.com or 970-846-5310 Arlene.zopf@steamboatsir.com