From the Prudential Steamboat Realty Market Report…
2007 was yet another record-breaking year in Routt County with sales volume topping out at $1.587 billion which is 42% greater than the 2006 record of $1.21 billion. Last year’s market was driven by lack of supply, healthy interest rates and market exuberance all of which led to significant jumps in appreciation in every segment of the market. Intrawest’s January 07 announcement of its intent to purchase the Steamboat Ski Area also fueled strong sales. Large scale developers have discovered Steamboat as evidenced by a number of extensive land and redevelopment purchases this past year. These iconic sales include: Steamboat 700 purchase of the Brown property west of Steamboat for $24.6 million, Bear Claw III parcel for $25 million (the new home of Edgemont), sales of the Sheraton Hotel and Golf Course for $57 million, and the Thunderhead and Ski Time Square buildings for $53.9 million. These one-time events in Steamboat were huge factors driving sales volume in 2007, the hottest year on record for Routt County.
2007 was yet another record-breaking year in Routt County with sales volume topping out at $1.587 billion which is 42% greater than the 2006 record of $1.21 billion. Last year’s market was driven by lack of supply, healthy interest rates and market exuberance all of which led to significant jumps in appreciation in every segment of the market. Intrawest’s January 07 announcement of its intent to purchase the Steamboat Ski Area also fueled strong sales. Large scale developers have discovered Steamboat as evidenced by a number of extensive land and redevelopment purchases this past year. These iconic sales include: Steamboat 700 purchase of the Brown property west of Steamboat for $24.6 million, Bear Claw III parcel for $25 million (the new home of Edgemont), sales of the Sheraton Hotel and Golf Course for $57 million, and the Thunderhead and Ski Time Square buildings for $53.9 million. These one-time events in Steamboat were huge factors driving sales volume in 2007, the hottest year on record for Routt County.
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