HOW'S THE MARKET?
Fall is in the air! With a change in the seasons, we’re also starting to see a bit of a shift in market conditions. There are currently 186 active residential listings in Routt County. This is a jump from last year (159), but still a marked decline from pre-pandemic numbers in September 2019 of 548 residential listings county-wide. While it's true that properties are taking longer to go under contract (17 days in 2022 versus 7 days this time last year), it’s a far cry from the 49 days on market in September of 2019. Similarly, although we’re seeing price cuts, the average sold price for single-family homes today ($1.6M) is higher than it was in September of 2019 ($750K).
The story the numbers tell is this: The market is stabilizing. We’re not in a free-fall like the nation experienced after the Great Recession. Interest rates seem to be having a cooling effect on purchases. Routt County had about 18% fewer closings than this time last year. In April 2022, nearly 70% of transactions were cash purchases; today, the purchases seem to be about 50% cash purchases. But we’re still above pre-pandemic numbers.
And it’s still not a balanced market. Recall that six months’ of available inventory is a balanced market. In September 2019, we had nearly nine months of available inventory; we have 2.8 months of available inventory today (up from 2.7 months of available inventory last month). These numbers are good for both our sellers (who haven’t missed out on the appreciation of the past two years) and our buyers (who are entering a stabilizing market).
Our office is one month in on its incorporation with The Group Real Estate, and we couldn’t be more excited. Our new, blue-and-white signs are dotting the neighborhood, and we have you all to thank for that. Thank you also to everyone who was able to come to our annual Client Appreciation Party. We had a great time and would love to hear from you as to how you think it went.
We would also like to congratulate The Group’s own Geoff Petis for being awarded the Steamboat Springs Chamber Navigator Award for “Young Professional of the Year.” Since 2016, these awards have been given to those who exemplify an exceptional commitment to the community and their respective business, and which make Steamboat an incredible place to live and work. All of our agents at The Group give back to our community in some way, and we’re proud to have such philanthropists in our ranks. Congratulations Geoff!
Whether you’re considering buying or selling, or whether you’d like to provide feedback on our Client Appreciation Party, one of our experienced agents is here to help you with any and all of your questions. Give us a call to find out how!
ALL THE FUN AT THE ROUTT COUNTY FAIR
Last month, community members from all over the county gathered at the Hayden Fairgrounds for the Routt County Fair for the 108th time. The long-time, annual event started in 1914 and continues to unite everyone from ranchers to townsfolk.
Under new management, the fair kept its legendary line-up of events from gymkhana and junior livestock sales to jam making contests and quilting. Last year, 133 head of livestock sold for almost $610K. As one of the livestock sale sponsors, The Group continues to promote a cause where the money raised support Routt County 4H and Future Farmers of America. Adonna Allen, President of the Routt County Junior Livestock Sale Committee, said 4H members typically use their proceeds to reinvest in next year’s project or their college education.
Participants of all ages entered contests ranging from the 4H Dog Training Show and Dressage, to the Demolition Derby – dubbed as “a heavy metal mayhem of collision.” Youth Rodeo daredevils took to the arena for bull riding, mini bronc riding, mutton bustin’ and pig catching, where contestants get to take home the pig if they catch it.
Attendees viewed the best efforts from green-fingered residents in the Exhibition Hall and the handiwork of seamstresses, artisans, and cake makers. Evenings brought crowds in for barbecues, the bonfire and live music by local favorite Chase the Wind and a sold-out concert by country star Ned Ledoux.
Even the missing poultry show could not affect the celebratory atmosphere. Organizers came up with a quirky stuffed animal replacement event to avoid the spread of avian flu, which proved highly entertaining for younger attendees.
As organizers calculate the monetary success of the 2022 fair, it’s clear that the Routt County Fair maintained its coveted spot on the local calendar for years to come.
CLIMBING TO THE TOP
A group of sixth grade boys at the Steamboat Springs Middle School came out of the Steamboat Climbing Collective gym and the first thing they asked is “when can we come back?” Their mutual enjoyment of an afternoon spent bouldering and belaying is apparent.
The future of the 2,245SF gym on the west side of Steamboat was in jeopardy until Karla Lankford saved it from liquidation. Lankford was the majority owner of a climbing gym in Boulder for a decade before retiring. That retirement was short-lived (to several weeks). She contacted Chris Hampson, her past Chief Operating Officer, and Manager Holly Seamans to see if she could lure them to join her on a new venture. They agreed and re-opened the doors to the Steamboat Climbing Collective in March 2022.
After months of improvements, the gym welcomed back climbers old and new with 22 feet top rope walks with five ropes and two Auto Belays, bouldering walls at various heights and steepness, a kilter board with an adjustable frame and a kid’s climbing area with a slide.
The gym offers classes from foundation skills aimed at kids ages four and up, to competitive programming for youth. Adults can practice at leisure or sign up for an instructional session, including Ladies Only nights. Lankford is sensitive to the fact that climbing has traditionally been a male dominated sport which can be intimidating, so the gym reacted to stage an alternative opportunity for women.
Users can purchase monthly memberships, punch cards or daily-use tickets. On opening Lankford said, “I’m looking forward to establishing a family-friendly gym where people of all ages can climb.” Based on its current popularity, that’s exactly what she’s done.
Fall open gym hours are Monday and Wednesday, 12-8PM, Tuesday, Thursday, and Friday, 10:30AM-8PM, Saturday and Sunday, 10:30AM–6PM.
TEST DRIVE AN ELECTRIC CAR IN STEAMBOAT
Did you know there are 100 towns in Colorado that offer electric car charging stations and Steamboat Springs is one of them? Stations are spread throughout downtown Steamboat, the mountain and west of town. In a move towards energy efficiency Steamboat Springs Transit operates a fleet of hybrid buses to serve the community.
A statewide effort has begun to install more high-speed chargers, 30 to 50 miles apart, to encourage electric car users. Two of the first high-speed charging stations have been installed at the Kum and Go on Anglers Drive funded mostly by a $250K grant from the Colorado Energy Office.
On September 18th at the Howelsen Rodeo Ground parking lot from 10AM to 3PM, locals have an opportunity to test drive a range of electric vehicles for free including the Tesla 3, Ford F150 Lightening, Nissan Leaf, Kia Niro and a 5th that is yet to be decided. The EV Ride and Drive Event is the third in a series of educational opportunities on the benefits of electric cars staged by Yampa Valley Electric Association, Yampa Valley Sustainability Council, Clean Energy Economy for the Region, Northern Colorado Clean Cities and the City of Steamboat.
For more information or to sign up go to
THREE CHEERS TO OUR WONDERFUL CLIENTS
A huge thank you to clients, old and new, for joining us as we cemented our transition into The Group Real Estate.
Around 600 people came out to celebrate with us at our Client Appreciation Party on September 2nd. The Yampa River proved the perfect backdrop to our first event as The Group.
Clients sampled local flavors by The Mountain Chef while musicians Jon Gibbs and Willie keep everyone entertained. Thanks to all who came and made it an evening full of fun!