Grand County Micro Market Report | Quarter 1, 2022

Q1 2022

Micro Market Report G R A N D C O U N T Y, C O L O R A D O

5188 CO HWY 125

687 GCR 513

Grand County MARKET UPDATE

Bordering Rocky Mountain National Park and home to the

Rural living in Grand County continued to be more expensive

“Great Lakes of the Rockies,” Grand County is well known for its

than in previous years, with the communities of Fraser, Granby, and

conveniently located mountain town, Winter Park. Rising to an

Kremmling seeing an increase in average property prices of 33.5%,

elevation of 9,100 ft, Winter Park is the gateway to the mountains

14.7%, and 150.3%, respectively during the first three months of 2022.

west of Denver, surrounded by Arapaho National Forest and three

In Kremmling, this significant increase in average property price is

wilderness areas: Indian Peaks, Byers Peak and Vasquez. Voted

attributed to the area’s astonishing highest price sale of $8,370,000,

best ski resort in North America by USA Today, Winter Park Resort

which is a 583.3% increase over the highest sale price during the first

is the epicenter of Grand County’s winter activities. Explore over

quarter of last year. Known for its year-round recreation, Tabernash is

3,000 acres of ski and snowboard trails, snowmobile through

the only community within Grand County that didn’t reflect an increase

miles of white powder, or simply soak up the famous Colorado sun

in appreciation value or a decrease in average time on market, making its

around a base-area bonfire. As of the 2020 census, Grand County

first quarter performance in 2022 a reminder that not every community

claims a population of nearly 16,00 residents throughout its six

is seeing the fast-paced, high priced market demand that consumers

towns: Winter Park, Grand Lake, Fraser, Granby, Tabernash, and

have grown accustomed to.

Kremmling.

While Grand County’s 2022 quarter one metrics reflect a slightly

Every quarter, LIV Sotheby's International Realty produces

slowing landscape with a 38.5% increase in average days on market

a Micro Market focused on Grand County’s market. For quarter

from 91 days in 2021 to 126 days this year, the market is continuing to

one, this report is a year-over-year comparison of the first

be highly competitive. With 22.5% fewer properties sold this year, yet a

quarter of 2021, compared to the first quarter of 2022, analyzing

28% increase in average sold price, the county continues to require the

January through March. Overall, homes in Grand County sold at

expertise and guidance of local real estate professionals to successfully

an increased price of 28% during the first quarter, rising from

navigate this highly coveted market which provides the convenience of

$693,457 in 2021 to $887,508 in 2022. However, Grand County’s

the city and the comfort of Colorado’s Rocky Mountains.

total dollar volume sold remained on par with the first quarter of 2021, in fact dipping down slightly from $119,968,087 in 2021 to $118,926,120 in 2022. In Winter Park, the county’s largest town, buyers purchased 40% fewer properties, but at a 57.2% increase in price point. Grand Lake, the area’s second-largest town, saw

GRAND COUNTY January through March

2021

2022

% Change

173

134

-22.5%

a 4.6% increase in average property prices and a 30.8% decline

Sold Listings (All Properties)

in all properties sold. Unlike the fast market Grand County

Sold Single Family

74

54

-27.0%

experienced in 2021, the first quarter of 2022 brought an increase

Sold Condos/TH/DP

99

80

-19.2%

in appreciation value, but also an increase in the amount of time

Average Days on Market

91

126

38.5%

Average Sold Price

$693,457

$887,508

28.0%

% Sold Price to List Price

100.55%

101.73%

1.2%

$119,968,087

$118,926,120

-0.9%

buyers had to weigh their options. In Winter Park, the average number of days on market increased from 88 days in 2021 to 162 days, and in Grand Lake, buyers and sellers saw an increase from 99 days to 151 days this year.

Total Dollar Volume Sold

All Properties Based on data from Grand County Board of Realtors® This representation is based in whole or in part on data supplied by Grand County Board of Realtors®. Grand County Board of Realtors® does not guarantee nor is inany way responsible for its accuracy. Data maintained by Grand County Board of Realtors® may not reflect all real estate activity in the market.

coloradomicroreports.com

GRAND COUNTY NEIGHBORHOODS

1.

Winter Park

2.

Grand Lake

3.

Fraser

4.

Granby

5.

Tabernash

6.

Kremmling

2

4 6 5 3 1

MICROMARKET REPORT | Grand County livsothebysrealty.com

JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM

WINTER PARK

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$606,614

$953,862

57.2%

88

162

84.1%

$2,646,000

$3,200,000

20.9%

50

30

-40.0%

100.2%

104.1%

3.9%

The average sold price in Winter Park increased by 57.2% January through March 2022 compared to that of 2021.

WINTER PARK

WINTER PARK

57.2%

January through March

All Properties

January through March Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$1,499,625

$1,976,219

31.8%

60

310

416.7%

$2,646,000

$3,200,000

20.9%

4

4

0.0%

93.2%

96.4%

3.5%

Single Family Homes

Located in Grand County and just 65 miles west of Denver, Winter Park, CO provides easy accessibility to a variety of outdoor activities year-round including hiking, fishing, boating, horseback riding and its popular mountain biking trails. Winter Park is known as “Mountain Bike Capital, USA” and offers a world-class lift serviced bike park, as well as hundreds of miles of singletrack to explore.

The Winter Park Express Train delivers passengers throughout the winter season from Denver Union Station to Winter Park Resort where skiers and snowboarders of all levels can enjoy groomers, glades and trees, plus the bumps and steeps of Mary Jane.

January through March Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$528,961

$796,576

50.6%

91

140

53.8%

$1,080,000

$2,000,000

85.2%

46

26

-43.5%

100.4%

105.3%

4.9%

Condos, Townhomes, Duplexes

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$845,765

$884,356

4.6%

99

151

52.5%

$4,600,000

$2,750,000

-40.2%

26

18

-30.8%

101.3%

91.8%

-9.4%

All Properties

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$1,076,444

$1,028,384

-4.5%

117

135

15.4%

$4,600,000

$2,750,000

-40.2%

18

11

-38.9%

98.5%

88.2%

-10.4%

The average sold price in Grand Lake increased by 4.6% January through March 2022 compared to that of 2021.

GRAND LAKE

January through March

4.6%

Single Family Homes

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$326,737

$658,026

101.4%

57

175

207.0%

$366,000

$900,000

145.9%

8

7

-12.5%

107.0%

97.4%

-9.0%

Condos, Townhomes, Duplexes

Established in 1881, Grand Lake is a charming Colorado mountain town that derives its name from the lake on whose shores it is situated: Grand Lake, the largest natural body of water in Colorado. Summer homes and cabins line the shores of the state’s largest natural lake, where boating, sailing, fishing and stand up paddle boarding can be enjoyed.

GRAND LAKE

January through March

GRAND LAKE

January through March

FRASER

33.5%

January through March Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$796,639

$1,063,755

33.5%

69

112

62.3%

$4,100,000

$3,970,000

-3.2%

27

28

3.7%

102.3%

104.5%

2.1%

The average sold price in Fraser increased by 33.5% January through March 2022 compared to that of 2021.

All Properties

January through March

FRASER

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$1,841,233

$2,000,931

8.7%

96

327

240.6%

$4,100,000

$3,970,000

-3.2%

6

7

16.7%

98.4%

99.4%

1.0%

FRASER

Single Family Homes

Fraser is centrally located between Winter Park and Tabernash and provides a variety of year-round activities including snow showing, tubbing, snowmobiling, biking, fishing, horseback riding, and miles of hiking trails to explore, including the Continental Divide. Rich in American West history, Fraser is home to an 1876 ranch and stagecoach stop which has been restored and can be seen at the Cozens Ranch Museum. Eclectic mountain boutiques and shops, and a variety of restaurants and breweries can be enjoyed after a day of adventure.

January through March Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$498,183

$751,362

50.8%

61

40

-34.4%

$925,000

$1,450,000

56.8%

21

21

0.0%

103.4%

105.9%

2.4%

Condos, Townhomes, Duplexes

January through March

Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2022

% Change

$570,674

$654,308

14.7%

53

111

109.4%

$1,460,000

$1,990,000

36.3%

42

43

2.4%

101.8%

101.2%

-0.6%

All Properties

January through March

Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2022

% Change

$845,791

$869,672

2.8%

50

114

128.0%

$1,460,000

$1,990,000

36.3%

18

19

5.6%

102.7%

99.9%

-2.7%

The highest sold price in Granby increased by 36.3% January through March 2022 compared to that of 2021.

GRANBY

Average Sold Price

2021

36.3%

GRANBY

Average Sold Price

2021

Single Family Homes

January through March

Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2022

% Change

$364,337

$483,811

32.8%

56

109

94.6%

$685,000

$865,000

26.3%

24

24

0.0%

101.3%

102.3%

1.0%

Condos, Townhomes, Duplexes

GRANBY

Average Sold Price

2021

Founded in 1905 and surrounded by Rocky Mountain National Park with stunning views of the Continental Divide, the mountain town of Granby offers western hospitality with a friendly atmosphere. There is plenty to do in Granby; hiking, camping, golfing, biking, rafting, horseback riding, as well as snowmobiling, snow shoeing and ice fishing.

Granby Ranch is a family-oriented ski resort that offers downhill skiing for all levels. Stroll down Granby’s charming main street to experience restaurants and shops. Ideally located in Middle Park of Grand County with close proximity to Denver, Granby is a smalltown destination that has a lot to offer yearround.

TABERNASH

46.2%

January through March Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2022

% Change

$1,110,892

$928,010

-16.5%

119

64

-46.2%

$3,050,000

$1,795,000

-41.1%

14

5

-64.3%

94.2%

97.3%

3.3%

The average days on market in Tabernash decreased by 46.2% January through March 2022 compared to that of 2021.

All Properties

TABERNASH

January through March

TABERNASH

2021

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$1,110,892

$928,010

-16.5%

119

64

-46.2%

$3,050,000

$1,795,000

-41.1%

14

5

-64.3%

94.2%

97.3%

3.3%

Single Family Homes

Tabernash is a small mountain community located in southeastern Grand County, just 12 miles north of Winter Park. Named after a Native American Ute Indian, Tabernash became a railroad town in the early 1900's where settlers made the area their home.

Tabernash and the surrounding area offers plenty of outdoor recreation options including hot air balloon rides, off-roading, hiking, biking, golfing, rafting, kayaking, horseback riding and cross-county skiing.

January through March

2021

2022

% Change

Average Sold Price

-

-

-

Average Days on Market

-

-

-

Highest Sold Price

-

-

-

Properties Sold

-

-

-

% Sold Price to Original List Price

-

-

-

Condos, Townhomes, Duplexes

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$472,667

$1,183,140

150.3%

216

113

-47.7%

$1,225,000

$8,370,000

583.3%

14

10

-28.6%

88.9%

95.4%

7.3%

All Properties

Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price

2021

2022

% Change

$472,667

$1,382,612

192.5%

216

130

-39.8%

$1,225,000

$8,370,000

583.3%

14

8

-42.9%

88.9%

93.9%

5.6%

The average sold price in Kremmling increased by 150.3% January through March 2022 compared to that of 2021.

KREMMLING

January through March

150.3%

Single Family Homes

2021

2022

% Change

Average Sold Price

-

$385,250

-

Average Days on Market

-

49

-

Highest Sold Price

-

$400,500

-

Properties Sold

-

2

-

% Sold Price to Original List Price

-

101.5%

-

Condos, Townhomes, Duplexes

Founded in 1881 during Colorado’s silver boom days, the town of Kremmling lies at the confluence of Muddy Creek, Blue and Colorado Rivers in Grand County. Rudolph Kremmling established the first general store in 1884 to help service the ranchers within the local area. Today Kremmling is home to ranchers, businesses and outdoor enthusiasts who want to “get away from it all” as it is surrounded by thousands of acres of Bureau of Land Management and U.S. Forest Service land.

KREMMLING

January through March

KREMMLING

January through March

WHY COLORADO?

04

NATIONAL PARKS

07

MOUNTAIN RANGES

28

SKI AREAS & RESORTS

03

AVG DAYS OF SUNSHINE ANNUALY

+ 05 3

CRAFT BREWERIES

MICROMARKET REPORT | Grand County JANUARY - MARCH 2022 • COLORADOMICROREPORTS.COM