Pending sales in the Steamboat Springs real estate market dipped a little in June and July from the previous monthly high achieved in May. However, highs for the year are often seen in August or September and the market may still see an increase in the number of pending transactions before the summer is over.
Inventory has rebounded slightly over the course of the year but still remains low. There are currently 1225 active listings in the Steamboat Springs MLS. This is up from the 961 listings we had active in January. By comparison, the current inventory is roughly half of what we saw during the worst of the recession. Additionally, it isn't unusual to see inventory at it's lowest point in the winter, so in part, the gain can be attributed to seasonal adjustments.
Taken together, the increased inventory and slower pace of sales, would seem to point to a slight leveling off in the market. While the market remains strong, higher prices and higher interest rates, are perhaps beginning to have some effect on the number of ready, willing and able buyers.
I am still seeing a lot of interest in the market and am showing properties regularly, so I think we'll still see a strong finish to the year.