Sales of single family homes in Stagecoach are definitely improving. So far this year there have been 28 homes sold in Stagecoach. In comparison, there were 14 sales in 2014 between January 1st and Mid-September. That is double what had sold last year. Up until mid-September, the 2015 sales have well surpassed the sales for all of 2014 (there were 18 sales in 2014). What’s also encouraging is that the average sales price of homes has increased as well. Through September of last year, average price of a home in Stagecoach was $304,000 and this year it was $379,000.
We believe there are three reasons Stagecoach is enjoying such a great year: rising rents, market becoming a seller’s market, and the possibility of rising interest rates. There has been a buying frenzy in the lower end of the market in the Steamboat and surrounding areas. The lower-end price points up to $400K have been the biggest driver in the Steamboat market this year. As the rent costs are going up, many locals are starting to look for a place of their own. Because the inventory if properties in their price range is limited, more are turning to Stagecoach to get more for their money. Also, there is a sense of urgency from the buyers because our area is becoming more of a seller’s market. Many buyers are afraid that if they don’t act now, they may miss out on a deal and prices will only increase. Finally, the threat of rising interest rates is also a factor in the increase in sales. At lower interest rates, buyers can afford more home. Since there is a lot of talk about the interest rates possibly going up, buyers are concerned that they will be able to afford less if they delay their purchase.
To see all the available single family homes in the Stagecoach area, click here. if you’re a buyer or a seller in Stagecoach and would like to discuss your options, please give us a call at 970-819-5063.