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.

Aspen Cheap -- $475,000 for 355 sq. ft Studio

So what's the least you can spend for full ownership of your Colorado dream hideaway in Aspen? Looks like some studios have shown price drops to below $500,000, including this one on the Original Curve of Main Street (in what's known as Aspen's "Core"). The online offering from Morris & Frywald shows a handsomely redecorated space including a full bed, although it is not clear whether that's the living room couch artfully made up or a separate piece of furniture within the 355 square feet.

Note to buyers: the MLS for places like Aspen and Vail is chock full of listings that seem to be going nowhere. Price drops, anyone?