Q2 2021
Micro Market Report GRAND COUNTY
269 Deer Trail Drive
1256 GCR 5171
Grand County MARKET UPDATE
Established in 1874, Grand County encompasses more than 1,800 square miles of valleys, mountains, meadows, and waterways. Grand Lake is Colorado’s largest and deepest natural lake, providing residents and vacationers with plenty of options for staying cool in the summer. Whether visitors are drawn to the area’s unspoiled beauty, miles of ATV/ snowmobiling trails, lakeside views and shopping, or Gold Medal fishing rivers, Grand County offers something for every type of outdoor enthusiast. Factor in Winter Park’s premier ski resort and the proximity to Rocky Mountain National Park, and it’s no surprise that Grand County is attracting more buyers every year. LIV Sotheby’s International Realty produces a Micro Market Report focused on the Grand County market and its performance of the first half of 2021 compared to the first half of 2020. With buyers placing more emphasis on quality of life these days, resort regions like Grand County are seeing an uptick in overall sales and in home prices. The average price for a home in Grand County rose 26.4% over the same time period last year, increasing from $563,795 to $712,712. From January through June 2021, the total number of properties sold increased in every Grand County neighborhood compared to the same time last year, with the largest increases appearing in Kremmling (94.4%), Tabernash (55.6%), and Fraser (45%). Condo, duplex and townhome sales rose significantly to 87.5% in Grand Lake, one of the area’s most popular resort towns. In Winter Park, near the largest ski resort in the region, the highest price for a sold property in 2021 increased 47% compared to the
highest price of a sold property during the first half of 2020, rising from $1,799,900 to $2,646,000. Most Grand County neighborhoods saw properties sell faster and spend fewer days on the market compared to the first half of 2020. Single family homes in Winter Park sold 134 days faster than this time last year—a 72.4% change—and single family homes in Fraser were close behind with a 69.6% drop in days spent on market. With properties selling faster and at a higher price point, this activity proves that Grand County is an appealing and popular choice for buyers, and the market shows no sign of slowing down.
GRAND COUNTY January through June
2020
2021
% Change
Sold Listings (All Properties)
306
431
40.8%
Sold Single Family
133
176
32.3%
Sold Condos/TH/DP
173
255
47.4%
Average Days on Market
136
86
-36.8%
$563,705
$712,712
26.4%
97.0%
101.8%
4.9%
$172,044,971
$307,178,928
78.5%
Average Sold Price % Sold Price to List Price 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 - JUNE 2021 • COLORADOMICROREPORTS.COM
WINTER PARK WINTER PARK WINTER PARK
43.8% The average days on market in Winter Park decreased by 43.8% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$587,531
$698,089
18.8%
137
77
-43.8%
$1,799,900
$2,646,000
47.0%
78
110
41.0%
97.2%
101.0%
3.9%
All Properties
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 June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,572,997
$1,476,416
-6.1%
185
51
-72.4%
$1,799,900
$2,646,000
47.0%
5
6
20.0%
97.4%
96.6%
-0.9%
Single Family Homes
January through June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$520,033
$653,186
25.6%
133
78
-41.4%
$1,425,000
$1,899,000
33.3%
73
104
42.5%
98.4%
101.1%
2.7%
Condos, Townhomes, Duplexes
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$518,488
$804,697
55.2%
96
67
-30.2%
$1,595,000
$4,600,000
188.4%
43
62
44.2%
97.5%
102.1%
4.7%
GRAND LAKE
January through June
All Properties
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$579,899
$960,049
65.6%
97
74
-23.7%
$1,595,000
$4,600,000
188.4%
35
47
34.3%
97.4%
100.5%
3.2%
188.4% The highest price in Grand Lake increased by 188.4% January through June 2021 compared to that of 2020.
Single Family Homes
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$249,812
$317,926
27.3%
91
44
-51.6%
$345,000
$375,000
8.7%
8
15
87.5%
97.8%
106.8%
9.2%
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 June
GRAND LAKE
January through June
FRASER
45.0% The number of properties sold in Fraser increased by 45.0% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$722,002
$785,225
8.8%
209
119
-43.1%
$3,710,000
$4,100,000
10.5%
60
87
45.0%
96.8%
105.3%
8.7%
FRASER
All Properties
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 June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$1,349,481
$1,514,669
12.2%
352
107
-69.6%
$3,710,000
$4,100,000
10.5%
18
18
0.0%
91.7%
101.0%
10.1%
Single Family Homes
January through June
FRASER
2020
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$453,083
$594,932
31.3%
147
122
-17.0%
$807,195
$976,000
20.9%
42
69
64.3%
99.0%
106.4%
7.5%
Condos, Townhomes, Duplexes
January through June
Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$461,227
$592,615
28.5%
119
60
-49.6%
$6,233,370
$1,750,000
-71.9%
89
109
22.5%
96.8%
102.9%
6.2%
49.6% The average days on market in Granby decreased by 49.6% January through June 2021 compared to that of 2020.
GRANBY
Average Sold Price
2020
All Properties
January through June
Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$687,282
$874,440
27.2%
156
60
-61.5%
$6,233,370
$1,750,000
-71.9%
41
46
12.2%
97.0%
101.4%
4.6%
GRANBY
Average Sold Price
2020
Single Family Homes
January through June
Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$268,138
$386,838
44.3%
88
61
-30.7%
$588,000
$725,000
23.3%
48
63
31.3%
96.7%
103.1%
6.6%
Condos, Townhomes, Duplexes
GRANBY
Average Sold Price
2020
Founded in 1905 and surrounded by Rocky Mountain National Park with stunning views of the Continental Divide, the mountain town of Granby offers a 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 TABERNASH TABERNASH
111.0% The highest price in Tabernash increased by 111.0% January through June 2021 compared to that of 2020.
January through June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$775,406
$1,083,303
39.7%
69
104
50.7%
$1,659,000
$3,500,000
111.0%
18
28
55.6%
97.2%
98.5%
1.3%
All Properties
52.9% The number of properties sold in Tabernash increased by 52.9% January through June 2021 compared to that of 2020.
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 June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$786,900
$1,108,173
40.8%
70
109
55.7%
$1,659,000
$3,500,000
111.0%
17
26
52.9%
96.9%
97.5%
0.7%
Single Family Homes
January through June Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$580,000
$760,000
31.0%
47
41
-12.8%
$580,000
$820,000
41.4%
1
2
100.0%
103.8%
110.9%
6.9%
Condos, Townhomes, Duplexes
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$335,819
$493,024
46.8%
130
137
5.4%
$539,000
$1,225,000
127.3%
18
35
94.4%
96.4%
95.5%
-1.0%
46.8% The average price in Kremmling increased by 46.8% January through June 2021 compared to that of 2020.
All Properties
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$341,750
$504,116
47.5%
126
141
11.9%
$539,000
$1,225,000
127.3%
17
33
94.1%
96.5%
95.2%
-1.4%
Single Family Homes
Average Sold Price Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$235,000
$309,999
31.9%
206
58
-71.8%
$235,000
$330,000
40.4%
1
2
100.0%
94.4%
100.8%
6.8%
Condos, Townhomes, Duplexes
The highest price in Kremmling increased by 127.3% January through June 2021 compared to that of 2020.
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 June
127.3%
KREMMLING
January through June
KREMMLING
January through June
WHY COLORADO?
04
NATIONAL PARKS
07
MOUNTAIN RANGES
28
SKI AREAS & RESORTS
300
AVG DAYS OF SUNSHINE ANNUALY
350+ CRAFT BREWERIES
MICROMARKET REPORT | Grand County JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM