Vacation Home Inventory Glut in Steamboat Springs, Colorado
One real estate agent in Steamboat Springs, Colorado, notes that at the recent pace of property sales in that mountain second home community (163 sales in the first 2 quarters of 2009) he expects to see only about 320 sales in 2009 total. Yet there are more than 2,300 listings available in the community, including commercial. This, says Doug Labor, broker-owner of Buyer’s Resource Real Estate and manager of MLS statistics as quoted in the Steamboat Pilot, translates into an inventory that would last about seven years, he said. A typical rate of supply is about a year, Labor said.