As the year has come to an end, we will soon have 2019 market reports on how the Steamboat real estate market was in 2019 as compared to recent years. We've certainly seen inventory drop and prices increase, but some exciting new projects and developments around town are gearing up for an exciting start to a new decade.
In December, we saw a 3% decrease in the number of listings sold as compared to December 2018, in this classic supply-vs-demand scenario, with inventory being lower, the median sales price in December 2019 was up 6% as compared to December 2018. Total sales volume was also 7% higher last month compared to Dec. 2018.
Four new developments at different price points and in different neighborhoods of Steamboat will make 2020 an exciting year in real estate. Urban Street, which will be located off Walton Creek Rd and Owl Hoot Trail, will be comprised of duplexes, triplexes, quadplexes, and eventually, two condo buildings, is set to begin construction in Spring 2020. Fox Springs will be 2 bedroom condos on Hilltop Pkwy and South Lincoln Ave. Phase II begins in 2021, and Phase III is to be announced. Sunlight is located on the west end of Downtown and homes have views of Sleeping Giant and Howelsen Hill.
Keeping an eye on the real estate market in Steamboat is always a good idea. Whether you're looking to buy or sell in Steamboat, our community is undergoing changes that will continue to affect prices and inventory. Contact me anytime for the most up-to-date information.