Summit County Q1 2019 Micro Market Report

MICROMARKET REPORT |

Summit County • Quarter 1 2019

SUMMIT COUNTY 4

5

1. Breckenridge 6

2.

Copper Mountain

3. Frisco

3

4. Silverthorne 5. Dillon 6. Keystone 2 1

Pictured on cover: 164 Imperial Way, Breckenridge

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SUMMIT COUNTY market update Summit County (Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, Silverthorne, etc.) offers an unparalleled quality of life with ample year-round activities, a community feel, and breathtaking mountain vistas at every turn. Ideally located on the western side of the Continental Divide and less than a twohour drive from Denver, Summit County attracts buyers from around the world.

LIV Sotheby’s International Realty produces a Micro Market Report focused on Summit County and the neighborhoods within it. As a whole, Summit

SUMMIT COUNTY

County saw an increase in average price by an impressive 16.7% for Q1 of 2019 compared to 2018, increasing the average price for this year to $857,056. In addition, total dollar volume sold also increased by 4.6% compared to January through March of 2018.

January through March Sold Listings (All Properties)

2018

2019

% Change

299

268

-10.4%

Sold Single Family

88

85

-3.4%

Sold Condos/TH/DP

211

183

-13.3%

Highlights from Summit County include an incredible 93.7% increase in average

Average Days on Market

58

67

15.5%

price for all properties in Copper Mountain, bringing the average price to

Average Price

$734,206

$857,056

16.7%

$860,000 in 2019. This dramatic increase was due to a significant $3,380,000

% Sold Price to List Price

98.8%

98.2%

-0.6%

single family home sale that occurred this year and no single family sale of this

Total Dollar Volume Sold

$219,527,730

$229,691,047

4.6%

price point occurred during the same timeframe in 2018 for Copper Mountain.

All Properties

Condos, townhomes and duplexes for Copper Mountain also reported an increase in average price by 28%.

Silverthorne/Wildernest also show a profound statistic with properties sold increasing by 56% in 2019 to 39 properties sold. Keystone, a sought-after location with access to three separate mountains, displayed an increase in average price for single family homes by a noteworthy 50.9%.

As a continuously increasing popular market, Summit County draws buyers who are looking for the desired Colorado mountains lifestyle, without being too far from the city life of Denver. Many second-home owners within Summit County come from the Front Range because of this close proximity.

resorts.livsothebysrealty.com

Based on Information from SAR MLS. This representation is based in whole or in part on data supplied by SAR MLS. SAR MLS does not guarantee nor is in any way responsible for its accuracy.

Data maintained by SAR MLS may not reflect all real estate activity in the market.

MICROMARKET REPORT | Summit County 2019 • COLORADOMICROREPORTS.COM

BRECKENRIDGE/BLUE RIVER January through March Average Price

2018 $852,927

$1,192,979

39.9%

$512

$546

6.6%

77

89

15.6%

$3,175,000

$4,800,000

51.2%

110

91

-17.3%

97.5%

97.6%

0.1%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties

773 Indiana Creek Road, Breckenridge

BRECKENRIDGE January through March

2018

Average Price

$1,162,141

$1,599,809

37.7%

$387

$444

14.6%

122

119

-2.5%

$3,175,000

$4,800,000

51.2%

35

45

28.6%

96.2%

96.8%

0.6%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

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 ďŹ nest terrain.

Single Family Homes

BRECKENRIDGE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

2019

$708,627

$794,993

12.2%

$571

$646

13.2%

56

58

3.6%

$2,400,000

$2,500,000

4.2%

75

46

-38.7%

98.1%

98.5%

0.4%

Condos, Townhomes, Duplexes 1521 Ski Hill Road #8401, Breckenridge

coloradomicroreports.com

FRISCO January through March

2018

Average Price

$760,196

$580,251

-23.7%

$473

$511

8.1%

46

48

4.3%

$2,300,000

$1,890,000

-17.8%

25

29

16.0%

98.2%

99.8%

1.7%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

All Properties 149 Rose Crown Circle, Frisco

26.4%

The highest price for condos, townhomes, and duplexes in Frisco increased by 26.4% January through March 2019 compared to that of 2018.

FRISCO January through March

2018

2019

Average Price

$1,148,375

$1,142,500

-0.5%

$494

$377

-23.7%

81

79

-2.5%

$2,300,000

$1,890,000

-17.8%

8

4

-50.0%

98.0%

93.3%

-4.8%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

Single Family Homes

FRISCO January through March

2018

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

$577,524

$490,291

-15.1%

$463

$532

15.0%

30

43

43.3%

$989,000

$1,250,000

26.4%

17

25

47.1%

98.2%

100.9%

2.7%

Condos, Townhomes, Duplexes 307 Teller Street, Frisco

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

DILLON/SUMMIT COVE January through March Average Price

2018 $519,558

$562,135

8.2%

$358

$389

8.7%

33

44

33.3%

$1,130,000

$1,290,000

14.2%

24

31

29.2%

97.7%

97.9%

0.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

8.2%

% Change

2019

The average price for all properties in Dillon/ Summit Cove increased by 8.2% January through March 2019 compared to that of 2018.

All Properties

DILLON/SUMMIT COVE January through March Average Price

2018 $748,000

$802,607

7.3%

$293

$315

7.3%

56

77

37.5%

$1,130,000

$1,290,000

14.2%

9

12

33.3%

97.3%

97.0%

-0.3%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

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 March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2018

% Change

2019

$382,493

$410,258

7.3%

$397

$437

9.9%

19

23

21.1%

$974,000

$680,000

-30.2%

15

19

26.7%

97.9%

98.5%

0.6%

Condos, Townhomes, Duplexes 317 High Meadow Drive, Dillon

coloradomicroreports.com

SILVERTHORNE/WILDERNEST January through March

2018

Average Price

$740,528

$661,322

-10.7%

$372

$387

3.9%

51

37

-27.5%

$1,470,000

$2,450,000

66.7%

54

55

1.9%

99.2%

98.4%

-0.9%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

All Properties 630 CR 2407, Silverthorne

SILVERTHORNE/WILDERNEST

15.2%

January through March 2019, the average price for single family homes in Silverthorne/ Wildernest increased by 15.2% compared to that of 2018.

January through March

2018

Average Price

$984,356

$1,134,344

15.2%

$365

$340

-6.8%

60

62

3.3%

$1,470,000

$2,450,000

66.7%

29

16

-44.8%

98.3%

97.5%

-0.8%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

Single Family Homes

SILVERTHORNE/WILDERNEST January through March

2018

Average Price Average Price per Square Foot

Silverthorne, the second most populous town in Summit County, is beautifully situated between the Gore Range and Continental Divide.

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

% Change

2019

$457,688

$467,261

2.1%

$380

$406

6.8%

40

27

-32.5%

$795,000

$939,000

18.1%

25

39

56.0%

100.3%

98.7%

-1.6%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

KEYSTONE January through March

2018

Average Price

$660,999

$806,865

22.1%

$487

$492

1.0%

51

72

41.2%

$1,864,000

$3,450,000

85.1%

74

53

-28.4%

99.0%

98.5%

-0.5%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

All Properties 91 River Run Road #8139, Keystone

KEYSTONE January through March

2018

2019

Average Price

$1,162,500

$1,754,065

50.9%

$351

$397

13.4%

149

136

-8.7%

$1,864,000

$3,450,000

85.1%

7

7

0.0%

96.3%

97.4%

1.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

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 March

2018

Average Price

$608,604

$662,725

8.9%

$501

$506

1.0%

41

62

51.2%

$1,300,000

$1,310,000

0.8%

67

46

-31.3%

99.3%

98.7%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

Condos, Townhomes, Duplexes 53 Hunkidori Court #8874, Keystone

coloradomicroreports.com

COPPER MOUNTAIN

5.1%

January through March

2018

Average Price

$444,083

$860,000

93.7%

$531

$558

5.1%

35

144

311.4%

$900,000

$3,380,000

275.6%

12

9

-25.0%

96.5%

97.0%

0.5%

Average Price per Square Foot

The average price per square foot in Copper Mountain increased by 5.1% in January through March 2019 compared to that of 2018.

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

% Change

2019

All Properties

COPPER MOUNTAIN January through March

2018

% Change

2019

Average Price

$-

$3,380,000

-

Average Price per Square Foot

$-

$576

-

0

550

-

$-

$3,380,000

-

0

1

-

0%

100%

-

Average Days on Market Highest Price Properties Sold % Sold Price to List Price Single Family Homes

*Zero properties sold in January through March of 2018, making the one sale of a single family home January through March of 2019 a notable sale.

882 Beeler Place, Copper Mountain

COPPER MOUNTAIN January through March

2018

Average Price

Copper Mountain is conveniently located just 75 miles from Denver and boasts 2,490 acres of ski terrain.

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

% Change

2019

$444,083

$568,375

28.0%

$531

$556

4.7%

35

94

168.6%

$900,000

$1,400,000

55.6%

12

8

-33.3%

96.5%

96.7%

0.2%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

WHY COLORADO?

NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

SKI AREAS & RESORTS: 28

CRAFT BREWERIES: 350+

LIV SOTHEBY’S INTERNATIONAL REALTY

RESORT REPORT

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The life you love.

resorts.livsothebysrealty.com | coloradomicroreports.com Based on Information from SAR MLS. This representation is based in whole or in part on data supplied by SAR MLS. SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by SAR MLS may not reflect all real estate activity in the market.