Steamboat Springs Market Update Q3 2022
Lack of inventory continues in Steamboat Springs. 60% of all closings were CASH.
Short-Term Rentals is an issue. Steamboat City Council continues discussion.
The City of Steamboat Springs is considering dormitory type housing to be built in Industrial Zoning. In addition:
- 65 Live/Work units and Industrial lots proposed at entrance of Steamboat Springs Airport
- Overland Park – 100+ homesites; small and large lots; recently sold with all approvals in place
- Steamboat Ski Area begins Phase II of $200M redevelopment: New Gondola to new Ski School area between Bashor & Thunderhead lifts is coming along very well.
| 2021 Q3 | 2022 Q3 | %+- | |
| VELOCITY (Source –RE Colorado) | |||
| Commercial Sales Volume | $6M | $2M | -66% |
| Commercial Transactions | 8 | 3 | -60% |
| VACANCY RATE | 7% | 5% | -2% |
| CAP RATE | 6.5% | 6% | -10% |
| SALES TAX INDICATORS (Source – Steamboat Springs) | |||
| All Sales Tax | $3M | $3.1M | +3% |
| Lodging Taxes | n/a | n/a |
Click here to download the full market report for Steamboat Springs Q3 2022
