Market Outlook: Steamboat Enters Development Cycle Not Seen in 15 Years

After nearly 15 years of limited activity at the resort base, Ski Time Square is about to see close to one billion dollars in new condominium projects come to market. While projects like The Amble continue to move through absorption, with approximately 60% sold, the Stockman development represents a different scale altogether. As the first slope-side, luxury-branded property with pricing higher than anything we’ve seen before, the project is poised to change the real estate landscape in Steamboat Springs in a lasting way. 

Why This Cycle Is Different

How will this impact the overall market? Very few properties can move an entire market. Alpine Mountain Ranch, Marabou, The Amble, Roan, and similar developments have all contributed to Steamboat’s growth, but none carry the same scale or market-moving weight as the Stockman. 

Steamboat Springs has long been regarded as one of the best ski destinations in North America, yet it has operated without a strong high-end hotel presence at the resort base. The absence has mattered. There is a meaningful segment of high-net-worth travelers who have historically chosen not to visit Steamboat due to limited luxury lodging options directly at the mountain. 

When the Stockman is layered with other base-area projects, including 1700 Ski Time Square Drive, 1830 Ski Time Square Drive, The Astrid, The Amble, and Roan, alongside the planned Discovery Land Company’s presence in Stagecoach, Steamboat enters a clear period of transformation.  

The Pricing Reality

As always, the numbers matter. Early indications suggest that the new base-area developments mentioned above are expected to launch at approximately $2,500 per square foot. In total, these projects are expected to introduce roughly 150 residences to the market. Here is a look at sales over $2,000 per square foot in 2025.

To put that in context, only two sales in 2025 exceeded $2,000 per square foot across the broader Steamboat market. Additionally, approximately 15 condominiums at The Amble have gone under contract over a two-year sales period. 

At these pricing levels, the new developments face a meaningful market challenge. Their success will depend on the ability of the Stockman and the luxury brand it aligns with to attract a new high-net-worth buyer profile to Steamboat Springs. 

Broader Market Implications

The upside for the broader market lies in the secondary effects. Buyers introduced to Steamboat through high-end, slope-side development often expand their search beyond the base area. Increased awareness, visitation, and brand elevation tend to drive demand across adjacent neighborhoods and property types.

What This Means for Buyers

For those who have been watching the Steamboat Springs market and waiting for an opportunity to buy, this moment matters. While base-area supply is increasing quickly, inventory across the rest of the market remains limited. As new development draws additional buyers into Steamboat, competition is likely to intensify. Timing, in this cycle, favors decisiveness.

For questions about the local market and available properties, contact The Agency Steamboat Springs at [email protected].