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