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Fall 2026

A Neighbor’s Take on the 2026 Market & More

A Note From a Neighbor Living in Barn Village gives me a slightly different perspective on the neighborhood—not only as a real estate broker, but as someone who calls it home. Lulu and I built the seventh home in Barn Village, and we’ve had a front-row seat as the neighborhood has grown and evolved. It’s been interesting to watch a relatively young neighborhood develop its own identity, character and sense of community.

Catch and Release A Fish Creek Brook Trout | Ryan Cox

I put this together to share a closer look at where we’ve been and what’s happening around us today—from the history of Barn Village and the More Barn to how the neighborhood is performing in today’s Steamboat market, recent sales activity, the latest on the More Ranch property next door, and a few things happening around town as we head toward winter. My hope is that it’s useful, interesting, and perhaps something you’ll hang onto for a while. And, as always, if you ever want to talk about the market, the neighborhood, or simply compare notes, I’m right down the street.

What’s Inside Barn Village: Then & Now A quick look at the neighborhood, its history, and how it has evolved.

2026 Market Brief What’s happening across Steamboat, Barn Village and other luxury neighborhoods.

More Ranch Update The latest on the proposed workforce housing project adjacent to Barn Village.

Winter 26/27 Getting to Steamboat, airport expansion & key winter dates.

Late Summer Moon Rise Over Mt. Werner Ryan Cox

Moonrise Over Mt. Werner | Ryan Cox

Iconic Steamboat Barn Poster | Steamboat Pilot

Barn Village: Then & Now A Century of Change Along Fish Creek Long before Barn Village, this particular patch of the Yampa Valley was working ranch land on the outskirts of a much smaller Steamboat Springs. In 1903, Lena Yock purchased a 160-acre homestead near Fish Creek, where she and her family farmed and raised livestock. The small cabin that still stands beside the More Barn today was already on the property when the Yocks arrived. Over the following decades, the family developed the homestead into a working farm and dairy. Lena’s son, Martin “Chick” Yock, built the barn that would later become known as the More Barn between 1926 and 1928, primarily to store hay and support the family’s dairy operation. The structure was practical rather than ornamental—a working ranch building representative of the agricultural landscape that once surrounded, and still surrounds, Steamboat. In 1957, the Yock family sold the property to neighboring rancher Jerry More, continuing a ranching tradition that had already spanned more than half a century. The More family would work the land for roughly another 50 years, and over time the old Yock barn became known simply as the “More Barn.” Its significance, however, would ultimately extend well beyond the ranch. Over time, the More Barn became not just a local landmark, but a core part of Steamboat’s DNA.

An Icon Is Born On a snowy February morning in 1972, Steamboat ski instructors Jo Semotan and Rusty Chandler rode horseback through deep snow in front of the More Barn, Hart skis strapped across their saddles. Photographer Gerald Brimacombe captured the scene during a Steamboat Ski Area promotional shoot. The photograph became one of Steamboat’s defining images, capturing two parts of the community’s identity: Western ranching heritage and skiing. It introduced generations of visitors to a ski town that was still very much a ranching community. As Steamboat grew, development gradually moved toward the More Ranch. Yet the weathered barn remained—an enduring symbol of the ranching and skiing traditions that helped define Steamboat.

Barn Village Takes Shape By the early 2000s, the land surrounding the More Barn was poised for another transformation. Plans for Barn Village began taking shape in 2004, envisioning a residential neighborhood that would retain a connection to the property's ranching history. Fish Creek | Ryan Cox

AsAs thethe property property transitioned transitioned toward toward development, development,thethehistoric historicbarn, barn,cabin cabinand and surrounding surrounding four four acres acres were were preserved preserved as as a City a City park, park,allowing allowingone oneof ofSteamboat’s Steamboat’smost most recognizable recognizablelandmarks landmarksto toremain remainas asa anew new neighborhood neighborhood would would soon soon emerge emerge around around it. it. Barn Barn Village Village launched launched over over Labor Labor Day Day weekend weekend in in2007 2007with withconsiderable considerableinterest. interest.Smaller Smaller residential residentiallotslotswere wereoriginally originallypriced pricedstarting starting around around $522,000, $522,000, while while some some of of thethe duplex duplex lotslots along along Fish Fish Creek Creek were were offered offered at at more more than than $1 $1 million. million.Demand Demandwas wasstrong strongenough enoughthat that reservations reservations reportedly reportedly ranran two two and and three three deep deep ononnearly nearlyevery everyhomesite—a homesite—aremarkable remarkablestart start considering considering what what happened happened next. next. Within Withinmonths, months,thethenational nationalhousing housingmarket market began began unraveling. unraveling. TheThe Great Great Recession Recession dramatically dramatically changed changed thethe trajectory trajectory of of thethe new new development. development. Only Only eight eight lotslots ultimately ultimately closed closed in in 2008, 2008,and andalthough althoughroads roadsand andneighborhood neighborhood infrastructure infrastructure were were completed completed in in 2009, 2009, building building largely largely went went quiet quiet forfor several several years. years.

More More Barn, Barn, circa circa 2001 2001 before before restoration restoration Source: Source: Steamboat Steamboat Pilot Pilot

AsAs Steamboat's Steamboat's real real estate estate market market recovered, recovered, so so diddidBarn BarnVillage. Village.Construction Constructionresumed, resumed,new new homes homesgradually graduallyfilled filledthethestreets, streets,and andthethe original originalvision visionforforthetheneighborhood neighborhoodbegan beganto to take take shape. shape. By By 2017, 2017, all all 6262 original original lotslots had had sold. sold.

Barn Barn Village Village Today Today Today, Today, Barn Barn Village Village bears bears little little resemblance resemblance to to thethe open open ranch ranch land land that that preceded preceded it, it, butbut its its history history is still is still woven woven into into thethe neighborhood. neighborhood. Sidewalks Sidewalks connect connect thethe neighborhood—still neighborhood—still somewhat somewhat of of a a rarity rarity in in Steamboat—while Steamboat—while Fish Fish Creek, Creek, trails trails and and open open space space give give Barn Barn Village Village a a connection connectionto tothethelandscape landscapearound aroundit. it.Over Over time, time, thethe neighborhood neighborhood hashas also also developed developed anan interesting interesting mixmix of of local local entrepreneurs, entrepreneurs, professionals, professionals,teachers, teachers,families familiesand andretirees, retirees, along alongwith withboth bothprimary primaryand andsecond-home second-home owners. owners. That That mixmix of of people—and people—and thethe sense sense of of community community it creates—is it creates—is part part of of what what makes makes Barn Barn Village Village different different from from many many of of Steamboat’s Steamboat’s other other luxury luxury neighborhoods. neighborhoods.

Barn Barn Village Village in the in the Making, Making, 2020 2020

It'sIt's a relatively a relatively new new neighborhood neighborhood built built onon land land with with a much a much older older story. story. More More than than a century a century hashas passed passed since since Lena Lena Yock Yock purchased purchased herher homestead, homestead, and and nearly nearly 7070 years years since since thethe More More family family acquired acquired thethe property. property. Through Throughall allof ofthat thatchange, change,one onefeature featurehashas remained remained remarkably remarkably constant. constant. TheThe More More Barn Barn stillstillstands standstoday—an today—anenduring enduringsymbol symbolof of Steamboat SteamboatSprings Springsand andthethedistinctive distinctivemixmixof of ranching, ranching, skiing skiing and and mountain mountain lifelife that that hashas long long defined defined thisthis place. place.

The The Historic Historic Yock Yock Cabin Cabin & Balloon & Balloon | Ryan | Ryan Cox Cox

Wild Neighbors With more wildlife moving through the neighborhood this year, remember to keep garage doors closed, secure food and trash, and give bears plenty of space as they prepare for hibernation. Limited snowpack and runoff have reduced natural food sources, contributing to more wildlife activity in town and a reported 400%+ increase in bear conflicts. While concerning, it has also made for some remarkable wildlife viewing around Barn Village.

A Fox in the Field Adjacent to the BV Pool

Hungry Bear after Visiting a BV Garage

Bull Moose Headed to Fish Creek for a Drink

Family of Moose Snacking on a Vacant Duplex Lot in BV

2026 Market Brief

More inventory. More choices. A more selective market.

After several years defined by exceptionally limited inventory and intense competition, the Steamboat real estate market continues to move toward a more balanced environment in 2026.

Despite these shifts, prices have remained relatively resilient. The median sales price in Steamboat is $1.18 million, down just 4%, while median price per square foot sits at $796, down 1% year over year.

The year-to-date numbers tell the story. Active residential inventory has increased 7%, while pending sales are down 13% from a year ago. Interestingly, the time to sell has tightened for properties that are trading, with median days on market falling 14% to just 19 days. At the same time, 397 properties have sold year-to-date, up 15%, with total sales volume reaching $601 million, up 4%.

The result isn't a weak market—it's a more discerning one. Buyers have more choices and more time to compare properties, while sellers are increasingly competing on price, condition and overall value.

Financing remains another important part of the picture. The average 30-year fixed mortgage climbed to approximately 7.2% in mid-September, according to Mortgage News Daily, up sharply from below 6.9% at the beginning of the month. The Federal Reserve also raised its benchmark rate by 0.25% in September, its first increase since 2023. Higher borrowing costs will likely shape buyer behavior in the coming months.

After several years of little to no sales activity in the resale home market, 2026 has been a noteworthy year for Barn Village, bringing the most resale inventory and listing activity we’ve seen since 2022.

Locally, however, Steamboat remains less dependent on financing than many markets. In August, 49% of purchases were cash, while 51% involved financing. August produced 102 transactions and $113.35 million in gross volume, an improvement from July, although volume remained 34.2% below August 2025.

Within the Broader Market, Barn Village Is Telling Its Own Story

At the peak of this summer’s selling season, we saw four active home listings, ranging in price from $2.975 million to $7.3 million. In addition to the current activity, Barn Village saw two homes listed and subsequently withdrawn from the market. While 2026 has yet to produce a closed sale, the increased activity is creating new reference points that should ultimately provide greater clarity around current values within the neighborhood.

While annual figures can vary given Barn Village’s limited sales volume, the longerterm trajectory in price per square foot has been decidedly upward. The historical trend provides useful context, but it also illustrates why applying a single neighborhood-wide $/SF figure can be misleading. The details of the individual property matter.

A Limited Supply With the original 62 homesites long since sold, vacant land in Barn Village is now limited to the resale of privately held lots. There are currently three privately owned vacant homesites offered for resale: 900 Angels View Way - $1,849,000 0.38 Acres | Duplex-Zoned That increase in activity comes at an interesting time. Across Steamboat, buyers have more choices and have become increasingly selective. Barn Village is seeing some of that same dynamic—but recent activity also shows that demand can surface quickly when the right property, pricing and buyer align. The clearest example is 1205 Angels View Way. The 2019-built, four-bedroom home came to market at $4.5 million— approximately $1,309 per square foot— and went pending in just two days. While this sale is still pending, a closing near list price would represent a meaningful jump in both overall price and price per square foot. That would build on the momentum of 820 Twilight Lane, which sold for $3.25 million in summer 2025. The 3,092square-foot home went under contract in only seven days, and closed at $255,000 over list price, providing another example of buyers moving quickly when the property, price, and buyer profile align. Meanwhile, two homes remain actively listed in the neighborhood. With 1205 Angels View Way currently pending, a closing near its asking price could provide an important new benchmark for the remaining inventory:

There Is No “Average” Barn Village Home Price per square foot is useful, but can be highly nuanced in Barn Village. Lot size, views, age, condition and finish level can all impact value. For context, Barn Village homes averaged roughly $460–$470/SF in 2018–2019. By 2022, the average had climbed to $843/SF, and the two sales in 2023 averaged $1,115/SF. The neighborhood’s most recent sale, in 2025, closed at $1,051/SF. At the upper end, 1375 Secluded Court came to market this year at $7.3 million, or approximately $1,553/SF. At 4,700 square feet on 0.74 acres, its homesite is exceptionally large by Barn Village standards. This home also sits at the end of the Secluded Court cul-de-sac and enjoys Fish Creek frontage. The listing was subsequently withdrawn.

835 Angels View Way - $985,000 0.15 Acres | Single-Family 1620 Chaps Way - $1,075,000 0.15 Acres | Single-Family Interestingly, those lots have required considerably more market exposure than 1205 Angels View. That contrast may offer some insight into today’s buyer: a finished home can command a meaningful premium for certainty when the alternative involves design, approvals, escalating construction costs and a multiyear building process.

How Does Barn Village Compare? To put Barn Village in context, it is useful to compare its performance with some of Steamboat’s other high-end markets: The Sanctuary, The Range, and a broader view of single-family homes across Downtown, Fish Creek and the Mountain areas. Over the past decade, all four markets have experienced substantial appreciation, particularly since 2020. What stands out is that Barn Village’s recent pricing has moved into similar territory as some of Steamboat’s other established luxury neighborhoods, while remaining a considerably smaller and less frequently traded market.

A look at 2025 pricing helps put that positioning into perspective. The Range A look ata median 2025 pricing helps while put that recorded of $1,061/SF, The A look at 2025 pricing helps put that positioning into perspective. The Range Sanctuary was approximately $964/SF. positioning into perspective. The Range recorded a median of $1,061/SF, while The The Sanctuary generally features larger recorded a median of $1,061/SF, while The Sanctuary was approximately $964/SF. homes on larger lots—a combination that Sanctuary was approximately $964/SF. The Sanctuary generally features can naturally temper price per squarelarger foot. The Sanctuary generally features larger homes on larger lots—a combination that The Range, Wildhorse Meadows’ collection homes on larger lots—a combination that can naturally temper price per square foot. of custom benefits can naturallysingle-family temper price homes, per square foot. The Range, Wildhorse Meadows’ collection from its Green Zone location. With The Range, Wildhorse Meadows’ collection of customlimited single-family homes, benefits relatively single-family inventory in of custom single-family homes, benefits fromGreen its Green Zonescarcity location. With the Zone, that can help from its Green Zone location. With relatively limited single-family inventory By in support premium $/SF values. relatively limited single-family inventory in the Green Zone, that scarcity can help comparison, single-family sales across the the Green Zone, that scarcity can help support premium $/SF values. By broader Downtown / Fish Creek / support premium $/SF values. By comparison, single-family sales across the Mountain market had a median of comparison, single-family sales across the broader Downtown Fish Creek / approximately $875/SF./ broader Downtown / Fish Creek / Mountain market had a median of Mountain market had a median of approximately $875/SF. Barn Village also stands out for just how approximately $875/SF. infrequently homes trade. There were Barn justfour how sevenVillage closed also salesstands in 2019,out butfor only in Barn Village also stands out for just how infrequently homes trade. There were 2020, none in 2021, four in 2022, two in infrequently homes trade. There were seven closed 2019, but only in 2023, none insales 2024in just one in four 2025. seven closed sales inand 2019, but only four in 2020, none in 2021, four in 2022, two in That scarcity is four considerably more 2020, none in 2021, in 2022, two in 2023, none in 2024 andSanctuary just one in 2025. pronounced than in The the 2023, none in 2024 and just one inand 2025. That scarcity is considerably more broader luxury market. That scarcity is considerably more pronounced than in The Sanctuary and the pronounced than in The Sanctuary and the broader luxury market. reinforces The comparison two broader luxury market. characteristics of Barn Village: values have The comparison reinforces moved firmly into Steamboat's upper two tier, The comparison reinforces two characteristics of Barn Village: values have while opportunities to buy a completed characteristics of Barn Village: values have moved firmly intoVillage Steamboat's tier, home in Barn remainupper relatively moved firmly into Steamboat's upper tier, while opportunities to buy a completed limited.opportunities to buy a completed while home in Barn Village remain relatively home in Barn Village remain relatively limited. The Takeaway limited.

The Takeaway 2026 feels like an important reset for Barn The Takeaway Village. After several quiet years, increased 2026 like an new important resetpoints for Barn activityfeels is creating reference for 2026 feels like an important reset for Barn Village. Aftergiving severalbuyers quiet years, increased value and and sellers a Village. After several quiet years, increased activity ispicture creatingofnew reference pointsWith for clearer today’s market. activity is creating new reference points for value giving buyers and a homes and trading so infrequently, thesellers pending value and giving buyers and sellers a clearer picture of today’s market. With sale at 1205 Angels View Way—and the clearer picture of today’s market. With homes tradingofsothe infrequently, pending performance remainingthe inventory— homes trading so infrequently, the pending sale at 1205 Angels Viewmeaningful Way—and the should be particularly in sale at 1205 Angels View Way—and the performance of the remaining inventory— shaping that picture. performance of the remaining inventory— should be particularly meaningful in should be particularly meaningful in shaping that picture. shaping that picture.

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More importantly for Barn Village residents, the City is still considering the property in 2026. In February, City Council materials identified More Ranch as an item for further consideration, directing the City to reexamine its participation in the previously entitled City/UCHealth project and consider a new concept using more cost-effective construction strategies, potentially including prefabrication.

So, Where Does That Leave Things? For now, there does not appear to be an active construction project underway, but More Ranch shouldn't be considered permanently shelved either.

More Ranch:

Where Things Stand A look at the property next door to Barn Village — and what may come next. If you’ve wondered about the vacant property between Barn Village and UCHealth, you’re probably not alone. The site has been discussed for years as a potential location for workforce housing, and while the original project was put on hold, the idea is once again being considered. The City-owned portion of the property, Lot 63-A in Barn Village, has an interesting connection to the neighborhood itself. The parcel came into City ownership through the affordable-housing requirements associated with the original Barn Village development. The City has contemplated using the property for workforce or employee housing for many years.

The City planned 10 long-term rental units for City employees on Lot 63-A, including four units deed-restricted for households earning 80% or less of Area Median Income. On the adjoining hospital-owned parcel, UCHealth planned another 12 transitional employee-housing units, creating a combined 22-unit development adjacent to Barn Village. By 2023, the project was essentially construction-ready. Rising costs, difficulty securing a contractor and a change in the hospital’s housing strategy stalled the project. After UCHealth purchased the 42-unit Creek’s End development near Walton Creek for employee housing, City Council voted to indefinitely pause More Ranch in January 2024.

The City still owns Lot 63-A, UCHealth owns the adjoining parcel, and the City's 2026 discussions indicate there remains interest in determining whether a more economically feasible housing project could work on the site. What that project ultimately looks like—its density, design, timing and whether UCHealth participates—could differ from the original 22-unit plan. For Barn Village, it's a property worth watching. Its location immediately adjacent to the neighborhood makes any future development particularly relevant to residents, and I'll continue to keep an eye on the City's plans as they evolve.

But the Story Isn't Over

The Original Plan

More Ranch resurfaced in the City's capital planning in 2025. A proposed 2026 project again contemplated 10 City units alongside 12 units on UCHealth’s adjacent property.

The most recent concept, known as More Ranch Community Housing, was envisioned as a partnership between the City of Steamboat Springs and UCHealth.

The proposal carried an estimated $19.4 million total project cost, with a proposed $2.5 million City contribution, but did not rank high enough among the City’s capital priorities to receive funding.

Creek’s End Housing Development

Winter 2026/27: Getting to Steamboat More Ways to Steamboat & a Major Airport Expansion Underway Steamboat heads into the 2026/27 winter season with nonstop service from 18 airports nationwide across six major airlines. New this winter is nonstop service from Portland, Oregon, adding another West Coast connection to an already extensive winter air network. At the same time, Yampa Valley Regional Airport is undergoing the largest capital project in its history. YVRA broke ground in June 2026 on the roughly $82 million West Terminal Expansion, which will add approximately 57,000 square feet of terminal space, including four new gate areas and passenger boarding bridges, expanded baggage facilities,

elevators and escalators, additional restrooms, and new dining and passenger areas. Construction is expected to continue through the 2026/27 and 2027/28 winter seasons, with the airport remaining operational throughout the project. Substantial completion is targeted for May 2028, followed by final construction acceptance and operational training during summer 2028. The project represents the first phase of a broader three-phase terminal improvement plan—an investment designed to accommodate continued growth and improve the experience of getting to and from the Yampa Valley.

2026/27 planned service. Flight schedules are subject to change; confirm with individual airlines.

Boutique Luxury Real Estate Advisory in Steamboat Springs

For more than 20 years, Ryan Cox has called the Yampa Valley home. A longtime Steamboat real estate broker, entrepreneur and former Barn Village board member, Ryan brings an entrepreneurial mindset, deep market knowledge and a strategic perspective to Steamboat real estate. His approach combines trusted advice, thoughtful representation, and a nuanced understanding of value to guide clients through significant real estate decisions.

RYAN COX Broker Associate 970.819.5359| ryan.cox@steamboatsir.com | RyanCoxRealEstate.com 20+ Years in the Valley • REALTrends America’s Best Top 1.5% Nationwide