June Market Report: Moves at the Base, Broader Market Supply Thinner Than You’d Think

After years of anticipation, Steamboat's base area development cycle moved from concept to closing table this spring. In April and May, The Amble, the first new ski mountain condominium development in 16 years, had 27 condominium sales close at an average price per square foot of approximately $1,900 and an average sale price of $2,874,000. For a market that has been building toward this moment, this is a very exciting step and the start of a new development cycle following Steamboat Ski Resort's $300 million capital investment.

Coming next: The Stockman Auberge Collection and Wildair. Construction fencing is now up in Ski Time Square, and dirt is moving. The Stockman includes 95 residences, 59 resort rooms, gourmet dining, and a full luxury amenity package and is expected to set a new standard for what the resort base can offer. Wildair features a limited collection of 20 two-, three-, and four-bedroom residences and penthouses, as well as private amenities, including a pool, spa, fitness center, ski lockers, storage space, and garage parking. 

Spring Activity: Buyers are Active

As for the greater residential market, properties priced well continue to sell. In May, three downtown properties went under contract within a week or two, one of which never reached the open market, with sales prices ranging from $2.4 million to $3.65 million. Among them was 1109 Village Lane, located just off 12th Street. On Aspenwood Lane in The Sanctuary, a home priced at $5.5 million went under contract in under a week as well.

The pace of those transactions suggests a consistent pattern: buyers are watching the Steamboat market closely, and when the right property becomes available at the right price, they move.

The Broader Market: Segmented by Price

Winter sales were slower than many expected, but the market didn't emerge with an oversupply of properties. Inventory across categories remains more limited than the headline numbers suggest.

The South Valley is a good example. Eighteen single-family homes are currently for sale, and while that seems like a lot, the prices range from $1.5 million to $24 million. Break it into price tiers and the selection narrows quickly: four homes priced below $4 million, four between $4 million and $6 million, and three more in the next band. In any given price range, there are fewer options than you might expect. 

For South Valley buyers with specific criteria and a specific price point, the inventory is limited enough that it's worth paying close attention to what comes on the market. If something strong becomes available, the window to act is narrow. In the meantime, the quality of what's currently listed is worth a close look.

Property Spotlight

Two South Valley properties that now stand out relative to the options available include:

33250 Ravenswood Lane | Situated above the South Valley in Whitewood, this hilltop estate spans nearly 8 acres with sweeping 360-degree views from the Steamboat Ski Area to the Flat Tops, Hahns Peak, and the Zirkel Mountains. The residence pairs legacy-scale living with a level of engineering and infrastructure rarely found in residential construction. The home features soaring vaulted ceilings, hand-carved wood beams, dual primary suites, a private lock-off guest wing, gym, home theater, and expansive gathering spaces. Powered by geoexchange, solar, and wind, the property stands as a modern mountain compound built for long-term independence. Represented by Chris Paoli and Kenny Reisman. Offered at $5,450,000. View Listing →

28100 Columbine Ridge | Located within Big Valley Ranch, 28100 Columbine Ridge spans 36.46 acres with panoramic views of the Steamboat Ski Area and across the South Valley. Designed by architect Michael Olsen, the five-bedroom custom residence pairs clean architectural lines with ranch-scale living, featuring a reimagined kitchen, expansive windows, and patios oriented to the landscape. The acreage supports equestrian use, equipment storage, and long-term flexibility, while a 36-panel solar array reinforces the property’s infrastructure and independence. Represented by Chris Paoli. Offered at $5,950,000. View Listing →

The Busy Summer Sales Season

Heading into Steamboat's busiest sales season, the market looks different depending on where you're focused. Two-bedroom condos on the mountain offer more selection than buyers have seen in several years. In the South Valley, estate-level inventory in any given price tier remains thin.

We are currently preparing several signature homes for market, ranging from $4 million to $15 million, from Marabou Ranch to the South Valley. If you'd like an early look, reach out directly.

For a current view of market activity, explore our rolling 90-day market analytics tool, or contact The Agency Steamboat Springs at [email protected] with any questions.