Steamboat Springs Q4 (YTD) 2024 Market Update Report
There is a lot of new Construction going on in and around the ski area and downtown Steamboat from High end Townhomes, High end and affordable Condo developments, some commercial components with retail:
- Preliminary Plat approval on 23 acres located at the Steamboat Springs Airport for Industrial Pak consisting of 25 Lots. Commercial industrial and Live work, some multi-family possibilities
- 6 new live work units on Elk River Road available this summer $1.4-1.5
- New city hall and fire station Opens on 10th street
- 134 Acres bordering the SS Airport on West side sells for $30MM, Plan is to do an Airpark, live-work and housing to begin in 2025/26
- Local Builder makes deal on 60 lots on west side of SS, Spec homes to start this year to build Spec houses constructing houses.
- Base Lodge west of town apartments and retail center Open and rented 100% occupancy, Additional 24 units being constructed for housing
- Gamble Residential Condo Development at base of Ski area b
DOWNLOAD FULL MARKET UPDATE REPORT
| 2023 YTD | 2024 YTD | %+- | |
| VELOCITY (Source Steamboat Springs – MLS) | |||
| Commercial Sales Volume |
$40,700,000 |
$39,364,000 |
-3.00% |
| Commercial Transactions | 44 | 33 | -15% |
| VACANCY RATE | 7% | 6% | -15% |
| CAP RATE | 6% | 7% | +15% |
| SALES TAX INDICATORS (Source – Town/City of Steamboat Springs) | |||
| All Sales Tax |
$41,300,000 |
$43,116,000 |
+1.98% |
| Lodging Taxes |
$8,411,000 |
$8,900,000 |
+6.72% |
