Monday, April 12, 2010

$4 MILLION DOLLAR CLOSING!

This past week we saw the largest closing in Steamboat for a single family residence in 2010. Located on Anglers Drive, this home was originally listed for over $6 million dollars. Our view of this closing is that it was a good one for the Steamboat Market. The sale price may not be what the developer was hoping for, yet it represents a solid price per sqft of $611. One item of note contained within the sale was the simultaneous purchase of lot 102 in the Sanctuary for $600,000 +/- by the seller (purchased from the buyer). Based on the last lot sale in the Sanctuary (for a far better lot) at $415,000, we would adjust the $4,000,000 sale price down by $200,000 to get a net sale price in today's dollars of $3,800,000.

Overall, a transaction near $600 per sqft is good to see! For details on this home click here.

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