Current conditions in the Craig market

It's been a seller's market in Craig the last couple of years, but there's good news for buyers, too.

"Interest rates remained low so it was good for buyers in that sense," said Nell Rose, a Re/MAX About You agent and president of the Craig Association of Realtors.

Rose said homeowners can typically expect a home's value to grow 5 percent a year.

Recently, however, Craig homeowners have seen increases reaching 8 to 10 percent a year.

"The last two years, it's gone up just incredibly," Rose said. "We don't know what the drive is, though, to tell you the truth."

She said some agents speculate that the market is booming because of the expected oil and gas industry boom, Wal-Mart opening a SuperCenter in Craig and the rush of people seeking the Northwest Colorado lifestyle without the Steamboat Springs prices.

In 2006, 282 residential properties were sold for a total of $45 million. The average price was $162,000, and the median was $155,000, Rose said.

Rose said buyers should expect to pay at least $170,000 for a three-bedroom, two-bathroom house in Craig.

And that probably won't change anytime soon, she said.

"House prices are going to stay the same and go up," Rose said.

She suggests checking out the market in the spring and summer, when residents are in the moving mood and there are plenty of listings to choose from.