$3 million properties in Routt County boost December sales total | SteamboatToday.com

$3 million properties in Routt County boost December sales total

— Routt County’s 2010 real estate totals received a year-end boost thanks to some notable high-end sales in December.

Bruce Carta, of Land Title Guarantee Co., reported that December’s dollar volume of $54.3 million was the highest monthly total of 2010, just eclipsing March, and got it done with the second lowest number of transactions.

Only February was lower, with 78 sales totaling $32.2 million.

Carta pointed out a quartet of sales at prices greater than $2.5 million that made the difference in December: the $3.5 million sale of a 10,431-square-foot home in The Porches of Steamboat, a sale of a home at Lake Catamount on 59.34 acres for $3.2 million, the $3 million sale by Vectra Bank of Colorado of 17 unbuilt golf course lots in Graystone on the Green on Dec. 21 and wrapping up the month, and the $2.9 million sale of a homestead lot in Marabou with a 1993 home that was incidental to the sale.

All told, 2010 racked up $512.1 million in volume, up 16.4 percent from 2009’s $440 million. But despite the year-over-year increase, 2010 still produced the second-lowest total in the past seven years. The $636.9 million the market produced in 2004 was the third lowest.

Predictably, the Steamboat mountain area dominated other regions of the county with $218.2 million in sales. The downtown area saw $40.9 million. The average sale price on five transactions in Catamount was $2 million. Strawberry Park and the Elk River combined for 24 transactions for a $1.2 million average.

“Residential units sold for 2010 were 485 compared to 374 in 2009,” Carta said.

And distressed properties were a part of the year in real estate at all price points.

“There were 14 bank sales in December, bringing the total for 2010 to 83,” Carta said.

A lot of that action was in Stagecoach, where there were 43 transactions last year, and it’s safe to say they weren’t boosted by land sales. The average transaction price in Stagecoach in 2010 was $174,116.

It also was a year that proved buyers still were willing to pay more than $1 million for a home in Routt County. Of the 485 residential units that sold, 104 were priced in seven figures. Fifty-six sold in a sweet spot of $1 million to $1.5 million, where buyers were finding substantial discounts.

More than half of home sales last year, 273 in all, were at prices lower than $500,000. In between $200,000 and $300,000, 94 buyers found what they were looking for.

Fourteen homes were sold for $900,000 to $1 million.

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