June showed buyers stepping back into the market with confidence as sales volume climbed up from a year ago and whole median prices rose. Active listings inventory increased creating more choices without weakening demand. We expect a more active late summer/ fall, with motivated buyers rewarding well priced move-in-ready homes.
The Resort Report provides insights into highly desirable mountain communities across the Western region. Dive into the facts and features that make the Mountain West market so unique. This annual report is a great tool for buyers and sellers looking for more information into leading luxury spaces.
There’s a common assumption in mountain towns like Steamboat Springs…if you live here, why would you ever need a “second home” in your own backyard? But more and more locals are quietly buying a piece of the fractional pie at the Steamboat Grand… and it actually makes a lot of sense.
At first glance, it’s about convenience. The Grand sits just steps from the base of Steamboat Ski Resort, which means ski-in/ski-out access without the parking shuffle, the crowds, or coordinating drop-offs during peak season. Even for full-time residents, that kind of ease is hard to replicate…unless you own directly at the base, which comes at a much higher price point.
But fractional ownership offers a different kind of entry. Instead of committing to a full second home, owners purchase a share that gives them guaranteed time in a fully furnished, slope-side residence, along with access to a variety of amenities that rival some of the most luxurious properties in town.
And that’s the piece of the fractional pie that gets REALLY sweet.
“For my clients who own at the Grand -as well as myself- we may only own a few calendar weeks, but we have access to all the amenities the Grand offers at any time, which is a huge motivating factor for locals who buy in,” says Carol Moore of Steamboat Sotheby’s International Realty. “We have access to a year-round heated pool, indoor/outdoor hot tubs, a full fitness center, spa services, on-site dining, ski valet, concierge, and parking. These are the kinds of amenities that even high-end single-family homes simply don’t offer, nor even replicate at the same level. For locals, it becomes a retreat within their routine.”
And that’s exactly the appeal.
It’s a place to spend a long weekend when family comes into town. A basecamp during powder cycles so you can maximize time on the mountain at Steamboat Ski Resort. A way to step into the full resort lifestyle but without dealing with any of the maintenance, upkeep, or overhead of a traditional second home.
And not only do you get the benefit of personal use, but there’s also built-in income potential when you’re not in residence.
“The Grand operates like a hotel in the sense of, if I tell them that I would like to rent my room out, they will fill it for me—they take care of it all. It’s hassle-free income for my family while I can still enjoy all the fabulous perks as an owner.”
There’s also a social element that’s often overlooked. Ownership at the Grand creates a sense of community with familiar faces, shared experiences and a consistent home base in the heart of the mountain. It’s not just transactional. It becomes part of how people live and maximize their life in the ‘Boat to it’s fullest potential. For many, it’s a smarter allocation of resources. Instead of tying up millions in a slope-side property that may only be used a few weeks out of the year, fractional ownership allows buyers to secure premium access at a fraction of the cost, while still benefiting from rental potential and long-term value. In other words- It’s flexible. It’s efficient. And it aligns with how people actually use second homes today.
At the end of the day, locals aren’t buying into the Steamboat Grand because they need a place to stay. They’re buying in to enhance their life in the place they love. Turns out, you don’t need the whole pie to live the good life…because even the smallest slice makes life in Steamboat that much sweeter.
Overview
1700 is a limited collection of 23 luxury residences just a short walk from Steamboat Ski Resort located at 1700 Ski Time Square.
Nine residences will be first released in the Ski Time Square building ranging from three to six-bedroom units. Additional units will be available later in the Burgess Creek building. Unit square footage ranges from 2,340 to 3,945.
Highlights
Each home offers breathtaking views of the mountains, valley or The Courtyard. The homes are designed using a nature-inspirited palette blending a timeless mountain aesthetic with modern functionality.
Amenities
1700 offers single-floor plan living with terraces in each unit. Hot tubs, fire pits, play structures, private parking, ski/snowboard/boot room, bike/gear storage and a dog wash station will be available.
Located in the Burgess Creek building, a health and wellness center will be a staple to mountain modern living including a movement studio, cold plunge and sauna.
2025 demonstrated a dynamic market with expanded inventory, greater buyer opportunity, and continued strength in the luxury segment entering 2026.
The first residential property to be built at the Steamboat base area in nearly 15 years.
The Amble is a new, all-electric, residential community at the Steamboat Ski Resort, by East West Partners. It will feature 42 residences, from one to four bedrooms, and a 100% electric building. As of December 2025, The Amble is 60% under contract.
The Amble will have the opportunity to operate net zero carbon through the constantly greening electrical grid and the opt-in Green Choice program. The Amble building itself creates its own sustainable ecosystem through climate-responsive architecture, daylighting and natural ventilation.
It’s just a short walk to the mountain, shopping and dining at the base area, alpine trails, and all Steamboat has to offer in every season.
Some of the highlighted amenities include Owner storage, fitness center, and underground, heated, secure parking with charging stations. The Amble stands right in the middle of all the action.
A not-to-be-missed feature is The Den which is a convenient and functional gear locker room and scenic outdoor sundeck. Each residence has a dedicated locker that has been designed for the size of each home.
Both short-term and long-term rentals are allowed, and homeowners have the option to enlist in professional management services. Owners must maintain a valid Short Term Rental license issued by the city of Steamboat Springs.
The Steamboat Springs area has historically boasted a dynamic and sought-after real estate market, set against the backdrop of stunning landscapes and a thriving community. Offering a blend of outdoor recreational opportunities, including world-class skiing, hiking, and hot springs- the market has historically attracted both seasonal visitors and permanent residents, driving a robust demand for homes in the area.
This demand was evident in the first half of 2024, where the Routt County area of the Western slope experienced rising prices, most seen in single family homes, condos, and townhomes. The median price for single-family homes in Steamboat rose by 15.5%, condos by 24.8%, and townhomes by 12.4%.
This escalation in prices corresponded with a heightened interest in land purchases across all property sub-types. In Steamboat Springs, land sales surged by 88.9%, reflecting a growing desire among buyers to secure their slice of this coveted locale. Similarly, Hayden saw a 66.7% increase in land transactions, while the South Valley, home to Lake Catamount, experienced a substantial 60% rise.
Subsequently, the demand for land has been met with decreasing prices, with land in all property sub-types seeing a decline in sold price. Across the region, there was a noticeable decline in the average sold price of land, though this decrease hit surrounding areas most dramatically.
The Elk River & North Routt area saw a 52.1% downward change from $292,000 to $139,750, and Hayden experienced a 61.1% drop from $218,600 to $85,000. This shift in land pries highlights a unique dynamic within the broader Steamboat Springs real estate market, where demand for developed properties continues to drive a competition and appreciation, while land prices have seen adjustments that reflect varying buyer strategies and market conditions.
Looking forward, these dynamics suggest a shifting landscape in Steamboat Springs’ real estate market, where buyers and investors navigate a market characterized by rising property values juxtaposed against moderated demand for land investments. This evolving scenario underscores the importance of strategic decision-making for both buyers and sellers in the months ahead.
The latest edition of the Sotheby's International Realty report provides insights into trends and developments that affect the global luxury real estate market. Outperforming traditional real estate in 2025, both in sales and increased value, we expect luxury real estate to continue that trajectory in 2026.
The report also reveals there are effectively two real estate markets—the luxury market and the general market—which perform differently. The resilience of the luxury real estate market reflects a premium economic foundation that provides greater stability against volatility.
Research also demonstrates that luxury property buyers are less constrained by geography and macroeconomic factors than other homebuyers. Sustained wealth creation through real estate and equity investments continues to be a key driver of global luxury markets. Some good news from 2025 that bodes well for the luxury real estate market in 2026 is that inventory levels have rebounded to where they were pre-pandemic. A balanced real estate market is healthier and more sustainable, with more options for homebuyers.
To respond to changing market conditions, both home sellers and homebuyers should consider the “first mover advantage”—being the first to act decisively when opportunities arise or shift. This is often seen in development projects that are the first to adjust their pricing. These projects often gain momentum and attract more offers, which snowballs into the development becoming the hottest in the market.
For home sellers, that means pricing realistically rather than opportunistically and considering the potential negative impact of carrying costs if they decide to wait a year or two to sell. For homebuyers, the "first mover advantage" can mean acting quickly when a once-in-a-generation opportunity arises.
We’re also seeing a meaningful shift toward multigenerational living among wealthy households. This trend is about more than a lifestyle—although clearly one major goal is spending time with loved ones. It is also about long-term estate planning and legacy building, a way homeowners can transfer some of their wealth during their lifetime by building or buying a home for their heirs.
The global perspective of the Sotheby’s International Realty brand’s network provides unique insight into these evolving trends and shifting priorities. This worldwide reach enables homebuyers to make informed decisions—wherever their search takes them.
STEAMBOAT SPRINGS, CO- Yesterday, Alterra Mountain Company announced plans to invest $223 million in capital improvements across its 15 North American mountain destinations for the upcoming year. For Steamboat that includes 355 acres of new terrain in the Pioneer Ridge area, upgrades to snowmaking and snowcat fleets, a remodel of Hazie’s restaurant and an expansion at the resort’s employee housing location The Ponds, all with a focus on sustainability.
Pioneer Ridge Expansion
For the first time in more than 20 years, Steamboat will make an additional 355 acres of terrain accessible when the resort boundary extends into the Pioneer Ridge area, north of resort’s current boundary. Pioneer Ridge will feature advanced/expert, mostly aspen, lodge pole pine and spruce tree terrain with 1800 vertical feet, accessible via the Pony Express lift. Twenty-five new chairs will be added to the line of Pony Express lift, increasing lift capacity from 1200 people per hour to 1800. Additionally, a new Ski Patrol duty station will replace the existing yurt, providing easy access for resort resources to the area, and a new access road will provide a hike out return to Pony Express, or guests may hike back up to BC Ski Way to return to the resort. The expansion increases Steamboats acreage to 3,320 acres, a 12 percent increase in total skiable acres, making Steamboat the third largest resort in Colorado.
“Pioneer Ridge is a game changer for Steamboat,” said Rob Perlman, president and chief operating officer for Steamboat Ski & Resort Corporation. “While we have always been known as an intermediate paradise, this expansion will provide the Champagne Powder® snow we are known for in more steep, advance/expert terrain, meeting a need long expressed by our locals and our visiting guests. Some of our dedicated locals have been getting fresh tracks in this area for years. By bringing it in to the resort’s boundary we can offer Patrol services in the area, creating a safer experience.”
Hazie’s Restaurant
Named for the matriarch of the Werner family, Hazie’s restaurant at the top of the Gondola in Thunderhead Lodge will get a complete makeover for the first time since opening in 1986. Upon entering the reimagined restaurant, guests will be greeted with ski/snowboard boot check, so they can relax in comfort while they dine. Capitalizing on the incredible views of the Yampa Valley and the town of Steamboat, the newly designed Hazie’s will feature a variety of seating styles, a larger lounge and bar area, a wine cellar featuring an expanded wine list and new lighting and carpet. The menu at Hazie’s will reflect the Werner matriarch’s love of bringing people together by emphasizing gathering with friends and family through food with shared plates, lifestyle cuisine, crafted cocktails, a bar menu and more. For dinner at Hazie’s, the menu shifts from a pre-fixed four course meal to ala carte options, appealing to every diner’s taste. Hazie’s will continue to utilize locally sourced products when possible, supporting the resort’s sustainability efforts.
On Mountain Operations Upgrades
Snowmaking: Steel snowmaking pipelines on Lower Valley View trail will be replaced with the most efficient and resilient product on the market, Ductile pipe. This will increase the resort’s available hydrants by 25 percent allowing more coverage on snowmaking trails in less time.
Snowcats/snowmobile fleet: Steamboat continues to upgrade its grooming fleet with the addition of three new Prinoth snow groomers, a Bison and two Beasts. The Prinoth Bison is a versatile snowcat that combines optical maneuverability with low fuel consumption and is the most popular park vehicle around. The Prinoth Beast, the world’s largest snow groomer, outperforms all other snow groomers with a 40 percent larger grooming capacity. The new machines replace one previous groomer and add two new ones to the resort’s fleet, allowing crews to groom additional terrain and tackle the resort’s most popular groomed trains with the highest quality of corduroy.
Southwest Airlines
Southwest Airlines has announced intention to serve the Steamboat Springs airport (HDN) with winter flights expected to begin December 2020 with nonstop service from Denver. This will mark Southwest’s first foray into a mountain specific destination.
“We are thrilled about Southwest Airlines’ intent to serve Steamboat into HDN starting winter 2020/21,” Said Rob Perlman, president and chief operating officer of Steamboat Ski & Resort Corporation. “What an ideal partner to bring more skiers and riders to experience Steamboat’s famous Champagne Powder® snow. Southwest’s world-renowned hospitality is perfectly aligned with Steamboat’s genuine western hospitality, and we’re excited to welcome their loyal customers to our magical mountain destination.”
Southwest will release additional information about schedules and fares in the coming months.
Sustainability
During its first year as a department, Sustainability Director Sarah Jones has reviewed the resorts practices to begin to identify short- and long-term opportunities. An official resort audit will be the next big step for the department in the coming years, to allow for strategic goal setting and long-term planning.
The resort’s approach to Sustainability is three pronged, focusing on the planet, people and prosperity. In its inaugural year, Jones focused on community engagement and internal employee engagement, with a goal of helping resort staff and local community members to understand what practices and support the resort currently undertakes. To bring awareness to the Steamboat community, Jones has participated in numerous committees such as the countywide Climate Action Plan steering committee, statewide Recycle Colorado Policy Committee and Yampa Valley Conservation Partnership Advisory Committee; and open forums including panels about snowmaking and wildfire mitigation. Jones works with Yampatika and birding groups to address environmental education on the mountain and continues to plan future events allowing guests, locals and staff to peak behind the curtain to see how Steamboat Ski Resort operates with a focus on sustainability.
Internally, Jones works with individual departments to identify opportunities to create and achieve sustainability goals, including increasing waste diversion; offering electric vehicle charging stations, creating effective climate adaption plans and identifying recycling, composting and solar installation opportunities.
Looking ahead, the Sustainability department will explore renewable energy possibilities, identify new technology for addressing food waste and work with state and federal stakeholders to study alternative transportation opportunities.
MARKET OVERVIEW
The new course that the Steamboat Springs real estate market set in 2018 did not alter more than a few degrees in 2019. The number of transactions posted by the Steamboat Springs MLS dropped 2% from 2018. This is most likely due to the low supply of properties for sale in the market over the past three years. Less inventory led to less buying opportunities, therefore the slight drop in overall transactions.
HOW DOES STEAMBOAT COMPARE
TO OTHER RESORT TOWNS IN THE WEST?
Resort communities are each unique and offer an abundance of activities drawing in many to live the sought-after resort lifestyle. These high-altitude homes have the privilege of access to some of the most incredible mountain landscapes and proximity to world-class skiing. Due to the incomparable location of these resort regions, Steamboat Sotheby’s International Realty produces an annual report that specifically analyzes real estate market data for homes in the mountains. This report helps educate consumers who are looking to buy a home, looking to sell a home, or who are just curious about the latest real estate trends within resort markets.
Tucked away in valleys and hidden behind towering mountain peaks, communities in resort towns tend to feature more luxury listings since affluent buyers are attracted to the opulent, and often exclusive, lifestyle that these areas can provide. Seasonality, location, less availability of homes listed for sale, and other factors typically drive home prices in these communities upwards, fueling the continually growing resort luxury home market.
When considering your real estate options in one of these incredible resort or mountain communities, take a close look at the market data to ensure that you are making the best financial and lifestyle decision for you and your family. Colleen, Michael, Cristin and Katie on the de Jong team are committed to educating consumers and assisting them in reaching their real estate goals. Give us a call if you'd like to discuss: (970) 879-8100.
