June 1st, 2010

Posted On June 1, 2010

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It has been a busy week in the Steamboat real estate world. Not because activity is picking up, most brokers say the last few weeks we have been slowing down.

٠ The tax credit expiring is why buyers who were going to buy, did.

٠ With spring in Steamboat, more sellers are putting their places on the market.

I took part in a seminar about marketing on the web which was pretty good and I’m hoping to implement some of the ideas pretty quick. There was a big article in the Denver Post Sunday which highlighted Steamboat. Steamboat did $125 million in sales during the first three months of the year with 312 transactions. Our under $300,000 market is by far the most active which is representative of a market building a bottom, so that’s good news. We still have a third the sales volume we need to burn through our excess inventory so prices can stabilize.

There are currently 1275 listings on the market and during the first half of the year we have sold 167 properties. If that rate continues through the year, then we currently have a four year supply of homes available. We need to be at one year to have price stability.

Marcus & Millichap had a nice summary of the national real estate market in there recent blog post: http://blog.marcusmillichap.com/

If things don’t pick up pretty quickly this summer, Ski Town Realty will be revising the recovery forecast down AGAIN. Hope for job recovery across the US. As always stay up to date with my blog at http://www.SkiTownRealty.net

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