2008 was a slow year for Stagecoach real estate. Only 31 properties sold between $32,000 and $6,250,000.
Sales recorded through the Steamboat Springs MLS (which doesn’t include Stagecoach for sale by owners, private sales, and other transactions where a Realtor was not involved) totaled $12,519,000 for the year.
When we take out the 664 acre parcel that sold for over $6M, 30 properties sold between $32,000 and $495,000. The median price was $214,000.
14 vacant land parcels sold for an average price of $79,800. The median price was $66,000.
- 1 in Overland
- 2 in Morningside
- 1 in Sky Hitch III
- 1 in High Cross
- 1 in South Station I
- 1 in Black Horse I
- 2 in Horseback
- 2 in South Shore
- 2 in Meadowgreen
- 1 in the Neighborhoods at Young’s Peak
1 Wagon Wheel condo sold for $195,000
9 Stagecoach Townhomes sold for an average price of $274,777
6 Stagecoach single family homes sold for an average price of $413,800 and a median price of $395,000.
There are currently 174 active listings in Stagecoach, and 202 listings expired in 2008 without being sold.
What do these numbers mean for 2009? Prices in Stagecoach will most likely come down before heading back up. The current absorption rate (with 31 properties selling in a year and 174 properties on the market) is 5 1/2 years. That means if no other properties came on the market, it would take over five years for all the active listings to be sold.
Most Stagecoach property owners still have equity in the real estate they bought, just not as much as in 2007. It is a buyer’s market as a new round of investors start looking at Stagecoach for the natural beauty, outdoor recreation, low prices, and proximity to Steamboat Springs.
Call (970) 819-6372 for more information on buying or selling in Stagecoach, Colorado.