HOW'S THE MARKET?
The resort wraps up their ski season this year on April 20th, but that doesn’t mean the fun has to stop! There are plenty of amazing events at the base of the mountain this year including concerts, a pond skim, and the cardboard classic. As the skiing on the mountain winds down, dual sport days wind up. The fishing heats up as the days heat up, some of the trails and dirt roads are great for biking, and the river starts to rise and activities like paddleboarding start back up. Many people find the time to fit two of these adventures into a day, thus the term dual sport days. Many other folks jet off to fun adventures, while others choose to stay in town and enjoy the quiet time. However you choose to spend this April, we here at The Group hope that you have a great spring.
As of March 20, 2025, Routt County has 229 active residential listings, up from 204 in February. Pending properties remained fairly steady at 48 in February, compared to 51 in January and 41 a year ago in February 2024. Closed listings in February (25) continued a downward trend from October, with 27 in January, 44 in December, 54 in November, and 71 in October.
According to Freddie Mac, the national average for a 30-year fixed-rate mortgage was 6.67% as of March 20, 2025, a 0.2% decrease from the previous month. Rates remain just below 7%, and the Fed recently noted they are not planning to make any major shifts to their policy because they believe the economy is slowing and they expect inflation to rise slightly in the coming months.
This edition of the Steamboat Insider is great. We delve into real estate investments and compare how an investment in another resort town could compare to an investment in Steamboat over the past 10 years. From there, we take a look at the Steamboat school system and consider how it may play a part in gauging a move here. Then we wrap it up by covering some of the iconic events that Steamboat Resort hosts in April. Additionally, make sure to check out “Steamboat by the Numbers” at the back of this issue. We found a few of the stats to be quite interesting and surprising!
At The Group, we hope you have a great April. It signals the start of a new season and the start of new things to come. Inventory tends to begin ramping up around this time, so if you are planning to list your home, or start looking for one, reach out to your trusted real estate advisor at The Group so they can help you get the ball rolling. We appreciate your faith in us, and we look forward to serving you.
WHY STEAMBOAT IS A SKI TOWN WORTH INVESTING IN
The lure of life in the mountains has long been a draw for home buyers and real estate investors. Post pandemic purchases skyrocketed and left markets depleted of supply. Ski towns like Aspen and Telluride have become havens for the super-rich, leaving many buyers looking to markets in Vail and Crested Butte, and with lower price tags, Steamboat Springs, Breckenridge and Winter Park.
Investing in Colorado's highly coveted mountain towns presents a lucrative opportunity, driven by their popularity and the rising demand for accommodations. During the 2022/23 ski season, Colorado's ski resorts saw a record-breaking 14.8 million visits, highlighting the strong appeal of these destinations.
Aspen is renowned as the most exclusive and expensive market, attracting ultra-high-net-worth buyers. While it offers excellent long-term investment potential it requires significant capital. Telluride is the less developed and commercialized alternative, but limited accessibility keeps inventory low, and its remote location can be a deterrent.
Vail remains a draw for the luxury market with its global reputation, but competition can be fierce given its proximity to the I70 corridor and rental demand. In recent years higher property taxes and increasing short-term rental regulations have stalled the rising growth trajectory for Breckenridge which saw post pandemic price increases of up to 40%. Winter Park is also witnessing a flatlining in sales volume.
Due to their proximity to the Denver metro area, Summit County (Breckenridge) and Grand County (Winter Park) are impacted by Denver real estate trends as they are considered “drivable” destinations for second homeowners. Steamboat Springs is considered an off-the-beaten-path option and is less affected by what happens on the front range.
The town of Steamboat is known for its laid-back, family-friendly atmosphere and its strong ranching roots. Recent investment of around $220 million at the Steamboat Resort, makes it the second largest ski area in Colorado and increased home values reflect demand.
The addition of more direct flights to Steamboat in recent years has also made it an attractive option for international buyers and the rising location neutral national workforce.
Based on the median sales price of a single-family home, Steamboat remains one of the most affordable Colorado ski towns. The resort’s commitment to growth and its resident’s passion for community, gives buyers even more reason to invest.
HOW FAR WILL YOUR MONEY GO FOR A PROPERTY IN A COLORADO SKI TOWN?
EDUCATION WITH THE STEAMBOAT SPRINGS SCHOOL DISTRICT EXTENDS BEYOND THE CLASSROOM
Purchasing property in Colorado's mountain towns offers more than just scenic beauty and recreational opportunities, it also provides access to some of the state's top-performing school districts and a growing emphasis on career and technical education (CTE) alongside traditional academics.
Steamboat Springs School District has a long track record for strong academics. Additionally, the district partners with Colorado Mountain College to offer concurrent enrollment options giving students access to gain college credit and industry-ready qualifications.
The integration of career and technical education alongside traditional academics ensures that students are well-prepared for life post high school. The choice of pathways currently include:
Colorado Mountain College reports more than 40% of students registered at CMC, across all their campuses, are in concurrent enrollment programs earning credits which transfer to any public university in Colorado.
Since 2009, the program has aided students in earning a total of 200,551 credits — equivalent to approximately 1,671 bachelor’s degrees or nearly $21 million in free college credits.
Hands-on learning opportunities with SSSD extend beyond classrooms and into the community. Students on CTE pathways have opportunities for internships and practical experience, while local businesses benefit from offering skill-based learning.
Students in the carpentry core class trying to earn a certification from the National Center for Construction Education and Research are working on a renovation project at Perry Mansfield Performing Arts School and Camp. While students in the Certified Nursing Assistant program can do their clinical work at Casey’s Pond, the senior living community.
Additional CTE pathways are in the planning stages and will continue to grow based on funding and local resources, without taking the emphasis away from academia. Steamboat Springs High School continues to offer a range of Advanced Placement courses with a participation rate of 48%.
In 2024, SSSD — which has 2,517 enrolled students, earned an overall "Accredited" rating, based on district and school performance frameworks from the Colorado Department of Education (CDE). SSSD earned 73 out of 100 points on the performance framework, just shy of the "Accredited with Distinction" rating (74+ points).
SSSD students surpassed state benchmarks in the 2024 PSAT/SAT assessments, emphasizing the district’s commitment to academic excellence.
Routt County, like many areas with high-performing school districts offers home buyers a chance to invest in a community which values education. Those areas tend to be characterized by higher property values, safer neighborhoods and a family-friendly environment. Students in the SSSD not only benefit from academic opportunities but an invested community there to support a healthy start in life.
SPRINGTIME AT STEAMBOAT RESORT IS REASON TO CELEBRATE
Steamboat Resort isn’t just about epic powder days—it’s an economic powerhouse that keeps the good times (and dollars) rolling all year long. Their ambitious "Full Steam Ahead" expansion project, which added 650 acres of skiable terrain and the nation’s longest gondola elevated Steamboat to be the second largest ski area in Colorado.
By March 9, 2025, the resort recorded 245 inches of snowfall, currently below the average of 289 inches, but with over one month to go, there’s still plenty of time for some late season powder. With spring now in the air, the iconic bluebird days are upon us. For the resort, it means the month-long celebration of Springalious festivities have begun.
From the legendary Splashdown Pond Skim to the ever-popular Cardboard Classic, Steamboat’s spring party scene never disappoints. Among the lineup of sun-soaked events is the Bud Light Rocks the Boat free concert series, featuring:
All concerts are free and take place from 3:30 to 5 p.m. at the Steamboat Stage in the base area. A full list of events can be found at www.steamboat.com.
As the season winds down, final stats will reveal total skier visits and snowfall. The 2023/24 season saw 941,026 skiers—an impressive 6.58% increase from the previous year. Steamboat earned several accolades, including:
- Best Family-Friendly Ski Resort – Travel + Leisure
- Best Ski Town in Colorado – Condé Nast Traveler
- Top Overall Ski Resort in North America – On the Snow
The resort’s surging popularity underscores its economic impact and growing appeal. With over $200 million invested in infrastructure and improvements in recent years, Steamboat remains committed to shaping the future of both the resort and the broader community.
REAL ESTATE BY NUMBERS
$4,875. The average rent, according to Zillow, for all bedrooms and all property types in Steamboat Springs, CO. This is an increase of $375 in year over year change.
$1,078,623. The average home value in Routt County, up 5.5% from last year. The area's strong tourism industry, limited housing supply, and growing demand for vacation homes continues to drive appreciation.
16.0%. The percent increase of inventory for one-bedroom homes in Routt County. According to a report released by Rocket at the end of February 2025, since the start of the year Routt county saw the inventory for two-bedroom homes increased by 10.7%, three bedroom homes increased by 12.5%, and five-bedroom homes increased by 8.5%.
6.63%. The percent the average 30-year fixed mortgage rate has decreased since the pandemic. This reduction boosts buying power and offers existing homeowners potential refinancing opportunities.
54. The average number of days a home was listed in Routt County in February 2025. This is down by 20.7% compared to the previous year. Recent sales showed 9.1% of homes sell over list price and 85.3% sell under list price.
Credits:
Created with images by Sensay - "Education concept - school backpack with books and other supplies, blackboard background" • yanik88 - "Girl skier in flight after jumping from a kicker in the spring against the backdrop of mountains and blue sky. Close-up wide angle. The concept of closing the ski season and skiing in spring" • Lubos Chlubny - "Modern mountain home with illuminated pool at dusk in winter"