MICROMARKET REPORT |
Summit County • 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: 33 Iron Mask Road, 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 two-hour drive from Denver, Summit County attracts buyers from around the world. Comparing the market results of 2018 to 2017 shows a rise in competition with average price increasing by 7%, yet listings sold decreasing slightly by 5.4%. In addition, total dollar volume sold increased by 1.1%. These three metrics prove that 2018 was a healthy market as buyers were willing to pay more and less properties were available for purchase – a very positive trend for sellers. Potential buyers also saw major benefits as average days on market increased, allowing buyers more time to make home purchasing decisions. Highlights from Summit County include an impressive increase of 30.4% in average
SUMMIT COUNTY
price for all properties in Dillon/Summit Cove, increasing from $425,769 in 2017 to $555,036 in 2018. While single family homes and condos, townhomes and duplexes
January through December
showed an increase in average price – condos, townhomes and duplexes in Dillon/
Sold Listings (All Properties)
Summit Cove saw the largest increase for the area of 30.7%.
Sold Single Family Sold Condos/TH/DP
Copper Mountain presented extraordinary results, especially for single family homes,
Average Days on Market
with a 56.9% increase in average price, from $2,231,250 in 2017 to $3,500,000 in
Average Price
2018. In addition, average days on market decreased a notable 22.1% to 325 days
% Sold Price to List Price
for single family homes. Including all property types, Copper Mountain saw a 17.7%
Total Dollar Volume Sold
increase in average price and a 44.4% decrease in average days on market, to a
2017
2018
% Change
1,973
1,866
-5.4%
571
545
-4.6%
1,402
1,321
-5.8%
62
75
21.0%
$700,377
$749,679
7.0%
98.4%
98.50%
0.1%
$1,381,843,993
$1,396,652,808
1.1%
All Properties
noteworthy 70 days in 2018. Breckenridge/Blue River, Frisco, Keystone, and Silverthorne/Wildernest areas presented positive results with increases in average price. Frisco reported a 19.3% increase in average price, landing at $782,105 in 2018. All areas also showed a decrease in days on market for single family homes, with Keystone reporting the most dramatic dip of 56.2% to only 99 days in 2018. As a popular market, Summit County continues to attract buyers who are looking for the desired Colorado mountains lifestyle, without being too far from Denver. Many second-home owners within Summit County come from the Front Range because of this close proximity.
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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 December Average Price
2017
$951,903
3.2%
$497
$523
5.3%
76
61
-19.7%
$6,100,000
$4,700,000
-23.0%
733
700
-4.5%
97.4%
97.60%
0.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$922,812
Average Price per Square Foot
Highest Price
2018
All Properties 301 North Main Street, Breckenridge
BRECKENRIDGE/BLUE RIVER January through December
2017
2018
Average Price
$1,287,506
$1,373,662
6.7%
$404
$421
4.2%
104
83
-20.2%
$6,100,000
$4,700,000
-23.0%
320
267
-16.6%
96.4%
96.72%
0.4%
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/BLUE RIVER January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$640,241
$691,835
8.1%
$570
$586
2.9%
54
47
-13.0%
$2,803,600
$2,825,000
0.8%
413
433
4.8%
98.2%
98.15%
0.0%
8.1%
January through December, 2018, the average price of condos, townhomes, and duplexes in Breckenridge/Blue River increased by 8.1% compared to that of 2017.
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FRISCO January through December
Frisco has a 1-mile radius, which offers visitors an easily walkable experience to the many local shops and restaurants, hiking trails, and parks the town boasts.
2017
Average Price
$782,105
19.3%
$423
$480
13.5%
41
37
-9.8%
$2,492,500
$2,300,000
-7.7%
163
162
-0.6%
97.6%
98.08%
0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$655,319
Average Price per Square Foot
Highest Price
2018
All Properties
FRISCO January through December
2017
Average Price
$1,074,545
$1,242,008
15.6%
$402
$442
10.2%
54
45
-16.7%
$2,492,500
$2,300,000
-7.7%
33
46
39.4%
96.6%
97.15%
0.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Single Family Homes 205 Aspen Drive, Frisco
15.5%
The average price per square foot for condos, townhomes, and duplexes in Frisco increased by 15.5% January through December, 2018 compared to that of 2017.
FRISCO January through December
2017
Average Price
$548,900
$599,729
9.3%
$429
$495
15.5%
38
35
-7.9%
$1,140,000
$1,338,275
17.4%
130
116
-10.8%
97.8%
98.45%
0.7%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Condos, Townhomes, Duplexes
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DILLON/SUMMIT COVE January through December Average Price
2017
$555,036
30.4%
$335
$380
13.6%
23
24
4.3%
$1,645,000
$1,555,000
-5.5%
203
173
-14.8%
98.4%
98.65%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$425,769
Average Price per Square Foot
Highest Price
2018
Dillon boasts the largest fresh water reservoir in Summit County, Lake Dillon, and is conveniently located south of I-70 with quick access to Frisco and Silverthorne.
All Properties
DILLON/SUMMIT COVE January through December Average Price
2017
$886,099
16.3%
$287
$305
6.4%
35
42
20.0%
$1,645,000
$1,555,000
-5.5%
50
52
4.0%
97.5%
98.12%
0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$761,988
Average Price per Square Foot
Highest Price
2018
Single Family Homes 317 High Meadow Drive, Dillon
DILLON/SUMMIT COVE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$315,893
$412,761
30.7%
$351
$412
17.7%
19
17
-10.5%
$889,000
$1,150,000
29.4%
153
121
-20.9%
98.8%
98.87%
0.0%
30.7%
The average price for condos, townhomes, and duplexes in Dillon/Summit Cove increased by 30.7% January through December, 2018 compared to that of 2017.
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SILVERTHORNE/WILDERNEST January through December
2017
Average Price
$675,305
7.7%
$352
$376
7.1%
52
44
-15.4%
$3,000,000
$2,765,000
-7.8%
425
351
-17.4%
98.4%
98.5%
0.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$627,057
Average Price per Square Foot
Highest Price
2018
All Properties 91781 Ryan Gulch Road, Silverthorne
8.1%
January through December, 2018, the average price per square foot for single family homes in Silverthorne/Wildernest increased by 8.1% compared to that of 2017.
SILVERTHORNE/WILDERNEST January through December
2017
Average Price
$957,963
-3.4%
$339
$366
8.1%
77
66
-14.3%
$3,000,000
$2,450,000
-18.3%
137
140
2.2%
97.4%
97.78%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$991,727
Average Price per Square Foot
Highest Price
2018
Single Family Homes
SILVERTHORNE/WILDERNEST January through December
2017
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
2018
% Change
$453,586
$487,758
7.5%
$358
$383
7.1%
40
29
-27.5%
$994,000
$2,765,000
178.2%
288
211
-26.7%
98.9%
98.90%
0.0%
Condos, Townhomes, Duplexes
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KEYSTONE January through December Average Price
2017
$640,538
13.5%
$437
$486
11.3%
57
55
-3.5%
$2,645,000
$3,050,000
15.3%
339
329
-2.9%
98.1%
98.33%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$564,146
Average Price per Square Foot
Highest Price
2018
All Properties 0195 River Run Road #8016, Keystone
KEYSTONE January through December
2017
2018
Average Price
$1,321,714
$1,468,259
11.1%
$336
$382
13.7%
226
99
-56.2%
$2,645,000
$3,050,000
15.3%
26
33
26.9%
94.1%
96.41%
2.5%
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 December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$501,216
$548,259
9.4%
$445
$497
11.8%
43
50
16.3%
$1,325,000
$1,300,000
-1.9%
313
296
-5.4%
98.4%
98.55%
0.2%
11.8%
The average price per square foot for condos, townhomes, and duplexes in Keystone increased by 11.8% January through December, 2018 compared to that of 2017.
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17.7%
January through December, 2018, the average price in Copper Mountain increased by 17.7% compared to that of 2017.
COPPER MOUNTAIN January through December
2017
Average Price
$584,169
17.7%
$469
$551
17.3%
126
70
-44.4%
$2,800,000
$3,500,000
25.0%
109
91
-16.5%
97.1%
97.38%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$496,229
Average Price per Square Foot
Highest Price
2018
All Properties
COPPER MOUNTAIN January through December
2017
Average Price
% Change
$2,231,250
$3,500,000
56.9%
$576
$545
-5.3%
417
325
-22.1%
$2,800,000
$2,959,500
5.7%
4
3
-25.0%
96%
104.99%
9.3%
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price Single Family Homes 903 Beeler Place, Copper Mountain
COPPER MOUNTAIN January through December
2017
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
2018
% Change
$430,133
$503,192
17.0%
$465
$550
18.4%
115
62
-46.1%
$1,925,000
$1,888,000
-1.9%
105
88
-16.2%
97.2%
97.12%
0.0%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com
2019 • COLORADOMICROREPORTS.COM
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.