Steamboat Springs, Colorado, has rapidly emerged as a premier destination for homebuyers seeking a true sense of community within an idyllic mountain setting. Known for its year-round outdoor activities and close-knit small-town charm, Steamboat’s robust market demand continues to grow. For this In the Know, Chris Paoli, Managing Partner of The Agency Steamboat Springs, highlights why this mountain town is captivating buyers nationwide.
What activities and lifestyle draw people to Steamboat Springs?
Steamboat is truly a four-season outdoor playground. While most people connect Steamboat Springs with “champagne powder” and its famous ski resort, those who love this town know how amazing the other three seasons are. From mountain biking, hiking, hunting, kayaking and fly fishing to pickleball and a thriving arts community, Steamboat is an adult playground set in a true small town. It’s a step back in time with kids walking to school and riding bikes to the ice cream shop and ranchers moving livestock on rural roads.
In a few words, how would you describe the feel of the area? What is the community like?
A common statement from visitors is, “Everyone is really nice!” Steamboat at its core is a real, small town where people work and play and kids grow up with the freedoms allowed by a close-knit community.
Steamboat is truly a four-season outdoor playground. From mountain biking, hiking, hunting, kayaking and fly fishing to pickleball and a thriving arts community, Steamboat is an adult playground set in a true small town.
What kind of homes do you find in Steamboat Springs?
Steamboat has a broad mix of housing styles and options. From the historic mining camp homes downtown to the architecturally on-trend new homes, there are options for almost any desire.
How’s the real estate market in Steamboat Springs right now?
Steamboat is benefiting from an incredible $250 million investment by the Steamboat Resort Corporation and a dynamic culinary experience, which is resulting in strong demand. Combine this with a challenging market to create new inventory and we have strong pricing.
Who is buying property in Steamboat Springs right now?
One of Steamboat’s greatest strengths is its appeal to a broad pool of buyers. There is truly something for everyone, which results in a uniquely dynamic community full of all demographics. From young families to retirees, and everything in between, there is a vibrant sub community to join.
One of Steamboat’s greatest strengths is its appeal to a broad pool of buyers. There is truly something for everyone, which results in a uniquely dynamic community full of all demographics.
What neighborhoods are attracting buyers most right now?
We are seeing strong demand in all categories of property. From Ski Area condos and homes looking to enjoy the newly improved ski area to the amazing walkability of downtown, properties within the city limits are in high demand. In some of our newer neighborhoods like Alpine Mountain Ranch, owners are pushing the limits of Steamboat’s architecture with eye-catching new construction.
What are some home amenities or features you see buyers seek out right now?
Buyers come to the mountain and love the views. Steamboat is closing the gap with the design trends that are hitting the East and West coasts first. Buyers coming from major markets like Dallas, Miami, Chicago, San Francisco and New York are bringing their design passions to the mountains.
Have you seen any increase in buyers or renters from a certain region?
We are very fortunate to have the most direct flights of any mountain airport in Colorado. These cities include southern Florida, New York, San Diego, Minneapolis, Chicago, San Francisco, Seattle, Dallas, Austin, Houston, Atlanta and more.
Are there any notable new developments on the horizon? And do you think they will alter the real estate landscape?
The Steamboat base area properties are a blank slate ready for redevelopment. There are many exciting projects in the design phase that, once finished, will completely change the experience at the Steamboat Resort Base Area. We’re all very interested to see what the future of the area will offer buyers.
Do you have any stats or data about the market over the past year that are notable?
Steamboat has experienced a significant increase in the average sale price of single-family homes which is the direct result of a reduced number of transactions. Inventory here is limited, but new developments in the coming years could change that.
What are your predictions for real estate in Steamboat Springs? What can we expect to see this year and into the future?
Steamboat should see a fairly balanced market through the rest of 2024. With the upcoming election and some economic uncertainty, demand is expected to be consistent but not overzealous like in years past.
For more insight into current market trends and the world’s most dynamic real estate destinations, browse our other recent In the Knows: Today’s Golf Course Home Market, Palm Beach to Palm Springs and .
