Colorado Group Realty Insider - January 2018
In 2017, the Yampa Valley real estate market saw significant increased sales volume and home valuations. With the year now behind us, what's on tap for 2018? There has been a significant drop off in inventory from 925 active listings at this time last year to only 400 current listings. With such a limited supply, it's logical to predict that individual values will continue to rise while total sales numbers may decrease.
The median single-family home price in Routt County has finally returned to 2007 figures, right before the real estate bubble popped. The Routt County Building Department reports that construction valuations and revenue for 2017 will be higher than they were last year, however compared to 2007, construction valuations are only about half of what they once were. In 2018, we expect to see more new construction to help replenish our dwindling supply.
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