Summit County Q3 2019 Micro Market Report

MICROMARKET REPORT |

Summit County • Q3 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: 417 Gold Run Road, Breckenridge

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SUMMIT COUNTY market update Summit County holds some of Colorado’s most popular mountain and ski resort towns. People from around the country and across the world come to the area’s towns, which include Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, and Silverthorne, to ski, hike, bike, and just enjoy the lifestyle these communities provide. Located just a few hours from bustling downtown Denver, these towns offer a seasonal escape from the city for many, while others opt to make these picturesque towns their full-time residence.

LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate for Summit County and the neighborhoods within it. From January to September of this year, compared to the same time span of 2018, the average price of homes in Summit County increased by 10.3%, making the average listing price $840,454 for 2019. What’s more, the total dollar volume sold in the county also increased by 2.6% this year.

Highlights from Summit County include notable increases in average price for homes in Copper Mountain. Properties listed in this area rose in price by 27.9%, with an average price of $694,546, compared to last year when the average price was $543,246.

Silverthorne and Wildernest saw speedier sales with average days on market decreasing by 16.7%. The typical amount of time a home in those towns will spend on the market is now 35 days as compared to 42 days during the same time frame last year.

SUMMIT COUNTY January through September Sold Listings (All Properties)

2018

2019

% Change

1,325

1,233

-6.9%

Sold Single Family

402

363

-9.7%

Sold Condos/TH/DP

923

870

-5.7%

48

52

8.3%

$762,122

$840,454

10.3%

98%

98%

0.0%

$1,009,811,224

$1,036,279,906

2.6%

Average Days on Market Average Price % Sold Price to List Price Total Dollar Volume Sold

All Properties

Summit County is the ideal place to live for those who want to enjoy the mountains without being too far “off the grid,” and the increasing popularity and active real estate market reflect that.

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 September Average Price

2018 $926,080

$1,168,743

26.2%

$525

$577

9.9%

57

70

22.8%

$4,700,000

$10,100,000

114.9%

504

425

-15.7%

98%

98%

-0.2%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties

192 Emmett Lode, Breckenridge

BRECKENRIDGE January through September

2018

2019

Average Price

$1,347,303

$1,692,734

25.6%

$422

$464

9.9%

77

92

19.5%

$4,700,000

$10,100,000

114.9%

191

182

-4.7%

97%

97%

0.1%

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

% Change

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

BRECKENRIDGE January through September

2018

Average Price

$669,040

$776,290

16.0%

$588

$661

12.5%

45

55

22.2%

$2,750,000

$2,835,628

3.1%

313

243

-22.4%

98%

98%

-0.3%

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

% Change

2019

Condos, Townhomes, Duplexes 159 Sage Drive, Breckenridge

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FRISCO January through September Average Price

2018 $818,489

$729,445

-10.9%

$480

$509

6.1%

34

332

876.5%

$2,300,000

$2,099,000

-8.7%

127

132

3.9%

98%

99%

0.5%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties 156 South 4th Avenue, Frisco

FRISCO

23.3%

January through September

2018

2019

Average Price

$1,269,119

$1,170,314

-7.8%

$443

$463

4.4%

45

48

6.7%

$2,300,000

$2,099,000

-8.7%

38

28

-26.3%

97%

97%

0.1%

Average Price per Square Foot Average Days on Market

The highest price for condos, townhomes, and duplexes in Frisco increased by 23.3% January through September 2019 compared to that of 2018.

Highest Price Properties Sold % Sold Price to List Price

% Change

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

2018

% Change

2019

$626,085

$610,749

-2.4%

$496

$522

5.2%

29

30

3.4%

$1,338,275

$1,650,000

23.3%

89

104

16.9%

99%

99%

0.6%

Condos, Townhomes, Duplexes 318 South 8 Avenue, Frisco th

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

DILLON/SUMMIT COVE January through September Average Price

2018 $558,243

$556,029

-0.4%

$376

$414

10.1%

23

36

56.5%

$1,555,000

$2,300,000

47.9%

123

159

29.3%

99%

98%

-0.4%

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

47.9%

% Change

2019

The highest price for all properties in Dillon/Summit Cove increased by 47.9% January through September 2019 compared to that of 2018.

All Properties

DILLON/SUMMIT COVE January through September Average Price

2018 $878,901

$892,116

1.5%

$307

$326

6.1%

39

50

28.2%

$1,555,000

$2,300,000

47.9%

39

44

12.8%

98%

97%

-0.8%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price

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

2018

% Change

2019

$409,366

$427,439

4.4%

$408

$448

4.4%

15

30

100.0%

$1,150,000

$900,000

-21.7%

84

115

36.9%

99%

99%

-0.5%

Condos, Townhomes, Duplexes 74 Telluride Court, Dillon

coloradomicroreports.com

SILVERTHORNE/WILDERNEST January through September

2018

Average Price

$678,466

$699,887

3.2%

$373

$397

6.4%

42

35

-16.7%

$2,765,000

$2,450,000

-11.4%

269

276

2.6%

99%

98%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties 195 Arnica Lane, Silverthorne

9.8%

January through September 2019 the average price for single family homes in Silverthorne/Wildernest increased by 9.8% compared to that of 2018.

SILVERTHORNE/WILDERNEST January through September

2018

Average Price

$957,230

$1,051,459

9.8%

$365

$375

2.7%

62

46

-25.8%

$2,450,000

$2,450,000

0.0%

108

91

-15.7%

98%

97%

-0.9%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price Single Family Homes

SILVERTHORNE/WILDERNEST January through September

2018

Average Price

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

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

% Change

2019

$491,470

$526,952

7.2%

$379

$408

7.8%

29

29

0.0%

$2,765,000

$1,175,000

-57.5%

161

185

14.9%

99%

99%

-0.5%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

2019 • COLORADOMICROREPORTS.COM

KEYSTONE January through September Average Price

2018 $642,362

$665,830

3.7%

$493

$506

2.8%

56

54

-3.6%

$3,050,000

$3,450,000

13.1%

241

198

-17.8%

98%

98%

-0.4%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties

53 Hunkidori Court, Keystone

KEYSTONE January through September

2018

2019

Average Price

$1,523,439

$1,614,013

5.9%

$378

$399

5.5%

114

115

0.9%

$3,050,000

$3,450,000

13.1%

24

16

-33.3%

96%

97%

1.0%

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 September Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes

2018

% Change

2019

$544,916

$582,474

6.9%

$505

$516

2.0%

49

48

-2.0%

$1,300,000

$1,355,000

4.2%

217

182

-16.1%

99%

98%

-0.5%

6.9%

The average price of condos, townhomes and duplexes in Keystone increased by 6.9% in January through September 2019 compared to that of 2018.

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20.7%

The highest price in Copper Mountain increased by 20.7% in January through September 2019 compared to that of 2018.

COPPER MOUNTAIN January through September

2018

Average Price

$543,246

$694,546

27.9%

$544

$560

2.9%

51

81

58.8%

$2,800,000

$3,380,000

20.7%

61

43

-29.5%

98%

97%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price All Properties

COPPER MOUNTAIN January through September

2018

Average Price

$2,689,250

$3,215,000

19.6%

$573

$547

-4.5%

397

385

-3.0%

$2,800,000

$3,380,000

20.7%

2

2

0.0%

111%

98%

-11.8%

Average Price per Square Foot Average Days on Market Highest Price

% Change

2019

Properties Sold % Sold Price to List Price Single Family Homes 884 Beeler Place, Copper Mountain

COPPER MOUNTAIN January through September

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

$470,500

$571,597

21.5%

$543

$561

3.2%

40

66

65.0%

$1,167,500

$1,830,000

56.7%

59

41

-30.5%

97%

97%

-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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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.