Stagecoach Colorado is a buyers market, where Buyers are the ones who can take there time and find what property they want for the price they want to pay. A buyers market differs from a sellers market where there is so little real estate available the seller can pretty much name their price–and get it.
So where are the buyers? After years of appreciation, Stagecoach is experiencing a slow year. In fact, there are over 200 lots available right now in Stagecoach. That’s about one out of every ten lots for sale.
Since May 1, a traditionally active time in Stagecoach, only nine properties have sold. Five lots, three townhomes, and one single family home.
Only one other property is currently under contract. (A Morningside lot).
What does this mean to buyers and sellers?
If you don’t need to sell your property, don’t list it. There is a multi-year supply of lots that won’t be absorbed by buyers this year. Unless you have a great lot with an equally stellar price, you are one of many. Wait until supply and demand come back in line and sell it then.
If you are looking to buy, however, it doesn’t get much better than this for timing. You have so many choices right now and room to negotiate. The market will rebound, and as Steamboat prices rise, Stagecoach prices will follow.
Buyers looking for a single family home can buy a brand-new place under $400,000. In fact, there are 10 single family homes in Stagecoach currently available for under $400,000. Know what that gets you in Steamboat? Not much.
Stagecoach also offers the lowest priced land available in Routt County. The lowest priced listing is currently $22,900 in South Station I. These lower priced lots without roads up to grade are definitely speculative, but have you seen the stock market lately? Oil futures? Stagecoach offers real property….something they aren’t making any more of, last time I checked.