MICROMARKET REPORT
SUMMIT COUNTY |
Q3 2020
SUMMIT COUNTY
TOWNS & NEIGHBORHOODS 1. Breckenridge 2. Copper Mountain 3. Frisco
4
5
4. Silverthorne 5. Dillon
6
6. Keystone 3
2 1
Pictured on cover: 56 Wildcat Road, Breckenridge
coloradomicroreports.com
SUMMIT COUNTY MARKET UPDATE With fresh air, endless opportunities for outdoor fun, and breathtaking scenery, it’s clear to see why Summit County is such a popular destination to buy and sell both primary and vacation homes in Colorado. No matter the season, there is always something to do in the communities that make up beautiful Summit County. In the summer, spend time in the mountains hiking, biking, fishing, or kayaking. During the winter months, enjoy world-class skiing at some of the most renowned ski resorts in the country. This highly sought-after mountain community is a socially distant sanctuary for those looking for a scenic escape. As such, the real estate market within Summit County has been very productive so far this year. LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate activity for Summit County and the neighborhoods within it. From January to September, compared to the same time frame of 2019, communities in the area saw an increase in sold listings by 7.9%. This rise in properties sold is a result of consumers’ desire to find a safe haven away from crowded cities. Due to the increase in demand, average home prices for this Summit County grew from $840,656 to $898,335, a 6.9% increase.
SUMMIT COUNTY January through September
2019
2020
% Change
Sold Listings (All Properties)
1,236
1,334
7.9%
Sold Single Family
364
400
9.9%
Sold Condos/TH/DP
872
934
7.1%
52
61
17.3%
$840,656
$898,335
6.9%
98.0%
98.0%
0.0%
Average Days on Market Average Price % Sold Price to List Price
This year, the market has yielded positive growth Total Dollar Volume Sold $1,039,051,118 $1,198,957,338 15.4% for both the single family home sector as well All Properties as the condominium, duplex, and townhome sector of the market. Single family home sales increased by 9.9% through September of this year compared to 2019. Condominiums, duplexes, and townhomes sales increased by 7.1% in the same comparison to the previous year. As a result of the strong demand for homes in Summit County, average prices for homes in several neighborhoods went up through Q3 of this year. In Breckenridge, one of the most popular ski resort communities in the U.S., the average price for homes increased by 1%, making the average price for homes $1,180,394. The nearby town of Frisco saw an impressive 11.2% increase in average home prices, bringing the average price to $811,374. Days on market, a metric that helps illustrate how quickly homes are selling, decreased significantly in select towns within Summit County. One of the most notable decreases was seen within the single family home market in Copper Mountain, where the average days on market for homes fell by 56.9%, from 385 days to 166 days. Keystone properties also experience a noticeable decrease, declining by 25.2% days on market. The real estate market continues to create favorable circumstances for buyers and sellers searching for their dream home or selling a beloved property.
Based on Information from Summit Association of Realtors®. This representation is based in whole or in part on data supplied by Summit Association of Realtors®. Summit Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors® may not reflect all real estate activity in the market.
MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
BRECKENRIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,168,541
$1,180,394
1.0%
$576
$576
0.0%
70
69
-1.4%
$10,100,000
$7,000,000
-30.7%
427
492
15.2%
97.6%
97.6%
0.0% All Properties
301 N Main Street, Breckenridge
BRECKENRIDGE January through September Average Price Average Price per Square Foot
2019
2020
% Change
$1,689,009
$1,607,106
-4.8%
$464
$484
4.3%
91
86
-5.5%
$10,100,000
$7,000,000
-30.7%
183
218
19.1%
97.2%
97.2%
-0.1%
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
Breckenridge Ski Resort, ranked by annual skier visits, is the second most visited ski resort in the United States and offers 34 lifts, 187 trails, and 2,327 acres of Colorado’s finest terrain.
Single Family Homes
10.2%
The highest price for condos, townhomes,
duplexes and triplexes in Breckenridge increased by 10.2% January through September 2020 compared to that of 2019.
BRECKENRIDGE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$778,190
$840,893
8.1%
$661
$650
-1.7%
54
55
1.9%
$2,835,628
$3,125,000
10.2%
244
274
12.3%
97.9%
97.9%
0.0%
Condominiums, Townhomes, Duplexes and Triplexes
coloradomicroreports.com
FRISCO January through September
2020
% Change
$729,445
$811,374
11.2%
$509
$545
7.0%
33
35
6.1%
$2,099,000
$2,050,000
-2.3%
The average price for all properties in Frisco
132
137
3.8%
increased by 11.2% January through September
98.8%
98.2%
-0.6%
2020 compared to that of 2019.
Average Price Average Price per Square Foot Average Days on Market Highest Price
11.2%
2019
Properties Sold % Sold Price to List Price All Properties
FRISCO
Frisco is the Main Street
January through September
to the Rockies, located at
Average Price
the epicenter of Summit
Average Price per Square Foot
County, just 30 minutes
Average Days on Market
from six world class ski
Highest Price
resorts including Copper
Properties Sold
Mountain, Breckenridge
% Sold Price to List Price
and Vail.
2019
2020
% Change
$1,170,314
$1,297,322
10.9%
$463
$526
13.5%
48
41
-14.6%
$2,099,000
$2,050,000
-2.3%
28
22
-21.4%
97.1%
97.3%
0.2%
Single Family Homes
FRISCO January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condominiums, Townhomes, Duplexes and Triplexes
2019
2020
% Change
$610,749
$718,410
17.6%
$522
$549
5.2%
30
34
13.3%
$1,650,000
$1,695,000
2.7%
104
115
10.6%
99.2%
98.4%
-0.8%
111 Lupine Lane, Frisco
MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
DILLON/SUMMIT COVE
6.6%
January through September Average Price Average Price per Square Foot Average Days on Market
The average price for all properties in Dillon and Summit Cove increased by 6.6% January through
Highest Price Properties Sold
September 2020 compared to that of 2019.
% Sold Price to List Price
2019
2020
% Change
$556,029
$592,859
6.6%
$414
$434
4.9%
36
48
33.3%
$2,300,000
$1,700,000
-26.1%
159
122
-23.3%
98.3%
97.8%
-0.5% All Properties
DILLON/SUMMIT COVE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$892,116
$961,303
7.8%
$326
$367
12.7%
50
49
-2.0%
$2,300,000
$1,620,000
-29.6%
44
31
-29.5%
97.4%
97.8%
0.4%
Dillon is located in the heart of Summit County along the shores of the beautiful Dillon Reservoir, or more commonly known as Lake Dillon.
Single Family Homes
DILLON/SUMMIT COVE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
24 Legend Circle, Dillon
2019
2020
% Change
$427,439
$467,345
9.3%
$448
$457
2.1%
30
48
60.0%
$900,000
$1,700,000
88.9%
115
91
-20.9%
98.7%
97.8%
-0.9%
Condominiums, Townhomes, Duplexes and Triplexes
coloradomicroreports.com
SILVERTHORNE/WILDERNEST January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$699,238
$765,464
9.5%
$397
$422
6.2%
35
56
60.0%
$2,450,000
$2,875,000
17.3%
277
357
28.9%
98.1%
98.8%
0.7%
All Properties
109 Creek Lane, Silverthorne
SILVERTHORNE/WILDERNEST Silverthorne, the second
January through September
most populous town
Average Price
in Summit County, is
Average Price per Square Foot
beautifully situated
Average Days on Market
between the Gore Range
Highest Price
and Continental Divide.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,051,459
$1,229,272
16.9%
$375
$414
10.6%
46
61
32.6%
$2,450,000
$2,875,000
17.3%
91
105
15.4%
97.0%
98.7%
1.7%
Single Family Homes
SILVERTHORNE/WILDERNEST January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$526,914
$572,210
8.6%
$409
$425
4.0%
29
54
86.2%
$1,175,000
$1,400,000
19.1%
186
252
35.5%
98.7%
98.9%
0.2%
35.5% The number of properties sold for condos, townhomes, duplexes and triplexes in the neighborhood of Silverthorne and Wildernest increased by 35.5% January through September 2020 compared to that of 2019.
Condominiums, Townhomes, Duplexes and Triplexes
MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
KEYSTONE
5.1%
January through September Average Price Average Price per Square Foot
The average price for all properties in Keystone
Average Days on Market
increased by 5.1% in January through September
Highest Price
2020 compared to that of 2019.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$665,830
$699,883
5.1%
$506
$511
1.0%
54
72
33.3%
$3,450,000
$2,590,000
-24.9%
198
172
-13.1%
98.1%
98.0%
-0.1% All Properties
KEYSTONE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2019
2020
% Change
$1,614,013
$1,483,786
-8.1%
$399
$403
1.2%
115
86
-25.2%
$3,450,000
$2,590,000
-24.9%
16
21
31.3%
97.2%
96.4%
-0.8%
Keystone Resort ski area offers access to three separate mountains, Dercum Mountain, North Peak, and The Outback, and provides visitors with numerous winter and summer outdoor activities.
Single Family Homes
KEYSTONE January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
51 Independence Lane, Keystone
2019
2020
% Change
$582,474
$590,863
1.4%
$516
$526
2.1%
48
70
45.8%
$1,355,000
$1,300,000
-4.1%
182
151
-17.0%
98.2%
98.3%
0.0%
Condominiums, Townhomes, Duplexes and Triplexes
coloradomicroreports.com
COPPER MOUNTAIN January through September Average Price Average Price per Square Foot Average Days on Market Highest Price
2019
2020
% Change
$694,546
$749,768
8.0%
$560
$598
6.7%
81
86
6.2%
6.7%
$3,380,000
$3,600,000
6.5%
The average price per square foot for all properties
43
54
25.6%
in Copper Mountain increased by 6.7% January
97.0%
97.1%
0.0%
through September 2020 compared to that of 2019.
Properties Sold % Sold Price to List Price All Properties
COPPER MOUNTAIN January through September
Copper Mountain is
Average Price
conveniently located just
Average Price per Square Foot
75 miles from Denver and
Average Days on Market
boasts 2,490 acres of ski
Highest Price
terrain.
Properties Sold % Sold Price to List Price
2019
2020
% Change
$3,215,000
$3,200,000
-0.5%
$547
$602
9.9%
385
166
-56.9%
$3,380,000
$3,600,000
6.5%
2
3
50.0%
98.3%
95.8%
-2.5%
Single Family Homes
COPPER MOUNTAIN January through September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condominiums, Townhomes, Duplexes and Triplexes
2019
2020
% Change
$571,597
$605,637
6.0%
$561
$597
6.6%
66
81
22.7%
$1,830,000
$1,825,000
-0.3%
41
51
24.4%
97.0%
97.2%
0.2%
1028 Beeler Place, Copper Mountain
MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
AVERAGE DAYS OF SUNSHINE ANNUALLY: 300
NATIONAL PARKS: 4
WHY coloradomicroreports.com
MOUNTAIN RANGES: 7
SKI AREAS & RESORTS: 28
COLORADO? MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
JANUARY - SEPTEMBER 2020 • COLORADOMICROREPORTS.COM
The life you love.
resorts.livsothebysrealty.com | coloradomicroreports.com Based on Information from Summit Association of Realtors速. This representation is based in whole or in part on data supplied by Summit Association of Realtors速. Summit Association of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors速 may not reflect all real estate activity in the market.