Colorado Group Realty Insider - February 2018
If you’re looking to sell an entry-level home or upgrade into a larger one, 2018 could be your year! Similar to Steamboat, several of our feeder markets (Boulder, Denver, and Fort Collins) are currently experiencing dual markets. A dual market represents the opportunity for owners of entry-level housing to sell at premium prices and move up to highe price points by taking advantage of larger discounts in that market segment. It’s the perfect sell high, buy low scenario— one that maximizes the ability to fully leverage two markets.
Data shows that sellers of entry-level housing within Steamboat city limits receive close to 98% of asking price. Sellers in all other market segments combined receive 95% of asking price. While 3% may seem negligible, it’s actually significant given average price points in Steamboat. Months of supply (how many months it would take for the current inventory of homes on the market to sell, given the current pace of home sales) is another way to gauge the promise of a dual market. A healthy and well-balanced market usually provides a six-month supply. For entry-level housing in Steamboat, the average months of supply is 2.6. In higher price points, it’s 4.8. Steamboat’s entry-level market is decidedly a seller’s market.
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