How to Read Today’s Steamboat Springs Real Estate Market. Simple Steps to Discovering Your Property’s Market Value

Step 1. You must be objective. Take off your seller’s hat and put on the hat of an impartial analyst. Look at your property through the eyes of the buyer.

Step 2. Look at the following general market data:

  • The local, state and national economic picture with emphasis on employment and population growth

  • Interest rates

  • Housing supply/demand for the community and for your specific neighborhood

  • How quickly are properties selling “Days on Market”

Step 3. Compare your property to comparable properties in the following four categories to appraise how yours objectively stacks up:

  • Current competitive listings

  • Current competitive properties under contract or waiting to close

  • Recent competitive “SOLDS” (past 24 months with special emphasis on the last 6 months)

  • Properties that failed to sell in the past 12 months