On the Market: Rural South Routt sees $30.8 million in 2010 sales
Steamboat Springs — South Routt County, except for the Oak Creek/Phippsburg and Stagecoach markets, put up some notable numbers on 39 transactions in 2010. The 39 sales totaled $30.8 million, for an average transaction price of $791,000 and a median price of $450,000. The average price per square foot was $352.
That last number is markedly different from Oak Creek/Phippsburg price of $122 per square foot, and Stagecoach’s $139 per square foot, according to figures compiled by Bruce Carta, of Land Title Guarantee Co. Stagecoach saw 43 sales totaling $7.48 million, with an average price of $174,000. Oak Creek/Phippsburg almost matched the Stagecoach market, with $7.11 million in sales on 35 transactions, for a higher average transaction price of $203,000.
Resorts see lodging figures up in January
The Mountain Travel Research Program reports lodging figures across the West were up 5.8 percent in January, but projects more modest growth in February.
The report is based on a sample of 265 property management companies in 15 mountain destinations, representing 24,000 rooms in Colorado, Utah, California and Oregon. The report does not purport to reflect the entire mountain destination travel industry, and points out that individual resorts may be seeing trends that vary significantly from others.
February projections are modest, with on-the-books occupancy as of Jan. 31 up 1.4 percent compared to the same time period last year. The preliminary forecast for reservations for arrivals from February through July 2011 at participating mountain destinations, however, currently are up 6.5 percent compared to last year. The average daily rate edges up slightly — less than 1 percent.
A retrospective of August through January, showed average occupancy up 9.4 percent and nightly rates essentially flat, up just 0.4 percent. The recent results also were notable because they marked the fifth consecutive month for a year-over-year increase among participating destinations. According to the report, February and March look good, with only the April figures currently lagging behind last year’s pacing.
“The strong results experienced at mountain destinations during the past six months combined with continued signs of economic recovery and plentiful snow in most parts of the country have provided a solid foundation for a respectable, although not spectacular, winter season,” said Ralf Garrison, director of MTRiP. “The steady increases in occupancy at most destinations is good news for lodging properties, but the flat rates show that guests are still insisting on deals, so overall lodging revenues aren’t likely to be as strong as hoped.”
For the remainder of the season, Garrison predicts that mountain lodging will remain a “buyers’ market,” with properties continuing to offer compelling discounted rates.
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After 11 years, Moxie Home Consign and Design owner Michelle Caragol has decided it’s time to close the doors on her west Steamboat Springs business.