Steamboat Springs Real Estate Hits $18.8M With $5.1M Luxury Condo Sale

Real estate transactions totaled $18,851,000 across 26 sales for the week of May 21 to 27.

The numbers are high, but they’re not entirely surprising. Steamboat Springs has been a seller’s market for years, and this week’s activity confirms that demand is still outpacing supply. The average sale price hovered near $725,000, but that figure is skewed by a few heavy hitters.

Take the deal at 1550 Amble Drive. Chalet Millie LLC paid $5,175,000 for Unit 211 at the Amble Condominiums. It’s a 2,423-square-foot, four-bedroom, three-and-a-half-bath unit. That’s not just a condo; that’s a luxury asset in one of the town’s most prestigious buildings. You don’t buy that unit for the weekend. You buy it because you have the capital to park it, or because you’re betting on long-term appreciation in a market that has barely cooled.

Then there’s the volume at the Cottonwoods.

Six units sold at 1660 Mid Valley Drive alone. Mid Valley Condominiums LLC was the seller in every single case, which suggests a developer or large investor was liquidating a portfolio. The prices ranged from $266,000 to $366,000. Unit 2411 went for $366,000 to Felipe Roberto Guzman. Unit 2409 sold for $266,000 to Darby Morris.

It’s a lot of inventory moving at once. For locals wondering if prices are stabilizing, this is the data point to watch. When a single entity offloads multiple units, it often signals a shift in strategy — either raising cash or preparing for a new phase of development. But the prices themselves? They’re still strong. A $366,000 condo in Steamboat is still a premium product.

The Oak Creek market told a different story.

Joan L. Oakes Revocable Trust and Gregory F. Oakes Revocable Trust sold a townhome at 30610 Relay Court for $962,000. The buyers? Grant Alan and Lana Jean Knisely. They also bought a condo at 330 Fox Springs Circle for $919,000. The Knisleys are clearly active in the area, picking up assets in different price brackets.

The townhome at Relay Court is a 2,035-square-foot, three-bedroom, three-and-a-half-bath unit on 0.20 acres. It last sold for $821,000 in 2023. That’s a 17% increase in three years. In a slower market, that kind of jump might raise eyebrows. Here, it’s just business.

Not everyone is playing the luxury game.

At 302 East Fourth Street in Oak Creek, Kelham S. Stephenson sold a six-bedroom, three-bath single-family residence to Nottingham Investment Co LLLP for $700,000. The property sits on 0.30 acres. It was purchased for $312,000 in 2016. That’s more than double the value in under a decade. Investment firms are still buying up family homes in Oak Creek, likely to convert them to rentals or flip them. The margin is huge.

Further north, in Clark, Gary W. Caille sold a 2,859-square-foot, four-bedroom residence to Dominic and Akore Chemello for $1,400,000. The property sits on 0.51 acres in the Steamboat Lakes Subdivision. It changed hands for $285,000 in 2011. That’s a fivefold increase.

The question is whether this growth can continue. The Clark sale shows that even outside the immediate Steamboat core, values are climbing. But it also highlights the disparity. The $1.4 million home in Clark is an outlier. Most transactions in the report were in the $200,000 to $500,000 range.

At the lower end, 501 West Airport Boulevard in Hayden sold for $60,000. It’s a 237-square-foot garage sto. You read that right. Garage sto. For $60,000. It’s a small asset, likely an add-on to a larger property, but it proves that even the smallest pieces of real estate are holding value.

The market isn’t slowing down. It’s just getting more selective. Buyers are still paying up, but they’re paying for specific amenities — views, location, square footage. The days of buying any house and watching it double in value are over. Now, you have to pick the right house.

As the week’s transactions show, the money is still flowing. The question is who’s holding it.