Q2 2021
Micro Market Report SUMMIT COUNTY
66 Green Jay Lane
358 Maryland Creek Road
Summit County MARKET UPDATE
Summit County is centrally located amongst some of the highest peaks of Colorado’s Rocky Mountains including the Tenmile Range, and is home to the resort towns of Breckenridge, Dillon, Frisco, Copper, Keystone, and Silverthorne. Summer activities are plentiful throughout the region including sailing and stand-up paddle boarding on Lake Dillon, horseback riding through meadows of wildflowers and aspen groves, mountain biking on miles of single track, or casting a fly rod in the Blue River or Ten-Mile Creek. Explore dozens of shops at the Outlets at Silverthorne, and the quaint boutiques and restaurants found on the historic Main Streets of Breckenridge and Frisco. Just a one-hour drive west from Denver, Summit County is the ideal location for outdoor adventure. Owning real estate in Summit County has always been attractive to both locals and visitors, but the increased mobility of some professionals and a universal quest for a better quality of life has made the region more desirable than ever. LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate activity in Summit County neighborhoods, comparing the metrics of the first half of 2020 with those of the first half of 2021. Real estate brokers were kept busy between January and June this year, with Summit County seeing a collective 86% spike in the number of properties sold, with the average sold price surging 25.1% to $1,047,854 compared to $837,516 at the same time last year. Breckenridge, the largest town in the county, saw a 269.6% increase in the highest price of a sold property this year at $17,000,000, up from $4,600,000 during the same time period in 2020. Competition for homes in town is clearly high, and the average number of days a property stayed on the market in Breckenridge dropped 34 days for single family homes and 23 days for condos and townhomes.
Breckenridge is not the only place buyers want to live, however. Every Summit County neighborhood experienced a rise in the number of properties sold and a decrease in the days on market this year as compared to the first half of 2020. Dillon/Summit Cove’s average property price rose 41.6% from January through June of 2021 while Silverthorne/Wildernest properties sold increased 54.8% compared to that of the first half of 2020. Frisco’s highest-priced property so far in 2021 sold for $3,300,000—up 151% from last year’s highest sold property over the same time period. Keystone and Copper Mountain also recorded a rise in the number of properties sold during the first half of this year as compared to the first half of last year—a 191.4% increase for Keystone and 171.4% for Copper Mountain. The rugged beauty of Summit County coupled with its robust dining, shopping and arts scene, its excellent school system and the adventurous lifestyle locals enjoy, all contribute to the area’s appeal. Consumers seeking the good life will continue to flock here and will keep the market active.
SUMMIT COUNTY January through June
2020
2021
% Change
Sold Listings (All Properties)
516
960
86.0%
Sold Single Family
141
271
92.2%
Sold Condos/TH/DP
375
689
83.7%
68
33
-51.5%
$837,516
$1,047,854
25.1%
97.7%
101.1%
3.5%
$432,737,217
$1,005,940,067
132.5%
Average Days on Market Average Sold Price % Sold Price to List Price Total Dollar Volume Sold
All Properties
Based on Information from Summit Association of Realtors®. This representation is based in whole or in part on data supplied by Summit Association of Realtors®. Summit Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors® may not reflect all real estate activity in the market.
coloradomicroreports.com
SUMMIT COUNTY NEIGHBORHOODS
1.
Breckenridge
2.
Copper Mountain
3.
Frisco
4
4.
Silverthorne
5.
Dillon
6.
Keystone
5
6
3
2 1
MICROMARKET REPORT | Summit County livsothebysrealty.com
JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM
BRECKENRIDGE
269.6% The highest price in Breckenridge increased by 269.6% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,056,177
$1,401,297
32.7%
$579
$724
25.0%
66
40
-39.4%
$4,600,000
$17,000,000
269.6%
201
337
67.7%
97.2%
100.1%
3.0%
BRECKENRIDGE
BRECKENRIDGE
All Properties
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,408,674
$2,044,421
45.1%
$469
$607
29.5%
78
44
-43.6%
$4,600,000
$17,000,000
269.6%
77
140
81.8%
96.6%
100.2%
3.7%
Single Family Homes
From historic Main Street where dozens of shops and restaurants can be enjoyed, to legendary snow skiing, to scenic summers, Breckenridge has all the hallmarks of a storied mountain retreat. But it’s the lifestyle Breckenridge provides that is as distinctive and alluring as the Ten Mile Range that surrounds the town.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$837,287
$944,254
12.8%
$648
$807
24.6%
59
36
-39.0%
$3,125,000
$3,631,500
16.2%
124
197
58.9%
97.5%
100.0%
2.5%
Condominiums, Townhomes, Duplexes and Triplexes
January through June
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
% Change
$769,644
$1,013,943
31.7%
$543
$640
18.0%
31
7
-77.4%
$1,315,000
$3,300,000
151.0%
47
78
66.0%
98.0%
102.1%
4.2%
77.4% The average days on market in Frisco decreased by 77.4% January through June 2021 compared to that of 2020.
FRISCO
Average Price
2020
All Properties
January through June Average Price
Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
% Change
$1,046,750
$1,862,786
78.0%
$542
$629
16.0%
35
10
-71.4%
$1,308,000
$3,300,000
152.3%
4
14
250.0%
98.0%
101.5%
3.6%
250%
The number of properties sold in Frisco increased by 250.0% January through June 2021 compared to that of 2020.
FRISCO
Average Price per Square Foot
2020
Single Family Homes
January through June
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
% Change
$743,866
$828,259
11.3%
$543
$643
18.4%
31
7
-77.4%
$1,315,000
$1,899,000
44.4%
43
64
48.8%
98.0%
102.2%
4.3%
Condominiums, Townhomes, Duplexes and Triplexes
FRISCO
Average Price
2020
DILLON/SUMMIT COVE DILLON/SUMMIT COVE DILLON/SUMMIT COVE
116.3% The number of properties sold in Dillon/ Summit Cove increased by 116.3% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$570,876
$808,347
41.6%
$405
$534
31.9%
56
8
-85.7%
$1,375,000
$3,500,000
154.5%
43
93
116.3%
97.0%
103.3%
6.5%
All Properties
The Town of Dillon is a little Colorado mountain town that’s big on outdoor activities. Summertime is when Dillon comes to life as it offers a variety of activities to enjoy including the annual Dillon Farmer’s Market, concerts and theater productions at the Dillon Amphitheater, live music on the water, and fun-filled days on Lake Dillon.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,012,250
$1,291,350
27.6%
$317
$485
53.1%
58
14
-75.9%
$1,375,000
$3,500,000
154.5%
10
24
140.0%
96.9%
103.8%
7.0%
Single Family Homes
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$437,126
$640,346
46.5%
$431
$551
27.7%
56
7
-87.5%
$915,000
$1,605,000
75.4%
33
69
109.1%
97.0%
103.1%
6.3%
Condominiums, Townhomes, Duplexes and Triplexes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$725,465
$923,627
27.3%
$436
$508
16.5%
73
31
-57.5%
$2,285,800
$3,800,000
66.2%
146
226
54.8%
98.8%
102.2%
3.3%
66.2% The highest price in Silverthorne/ Wildernest increased by 66.2% January through June 2021 compared to that of 2020.
All Properties
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,159,676
$1,475,419
27.2%
$414
$523
26.4%
69
26
-62.3%
$2,285,800
$3,800,000
66.2%
40
79
97.5%
98.7%
101.2%
2.5%
SILVERTHORNE/WILDERNEST
January through June
Single Family Homes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$561,611
$627,085
11.7%
$445
$500
12.5%
75
34
-54.7%
$1,030,000
$1,325,000
28.6%
106
147
38.7%
98.9%
102.6%
3.8%
Condominiums, Townhomes, Duplexes and Triplexes
Located in the heart of Summit County and cradled in the Blue River Valley, Silverthorne is the quintessential Colorado mountain town. Silverthorne is situated amidst the world’s winter playgrounds, while being surrounded by the majestic Rocky Mountains which makes it the perfect location for yearround adventure.
SILVERTHORNE/WILDERNEST
January through June
SILVERTHORNE/WILDERNEST
January through June
KEYSTONE
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$672,096
$740,952
10.2%
$495
$624
26.1%
96
52
-45.8%
$1,500,000
$4,025,000
168.3%
58
169
191.4%
97.4%
100.5%
3.2%
KEYSTONE
All Properties
78.6%
The average price in Keystone increased by 78.6% January through June 2021 compared to that of 2020.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,086,056
$1,939,615
78.6%
$351
$538
53.2%
92
36
-60.9%
$1,500,000
$4,025,000
168.3%
9
13
44.4%
95.6%
99.6%
4.2%
KEYSTONE
Single Family Homes
Keystone, Colorado, founded in 1970 and nestled between three separate mountains, is home to Keystone Resort, an alpine ski resort. The resort features five expert bowls and 131 slopes on 3,000 acres that includes gladded tree skiing, smooth cruisers, mogul-covered runs as well as wide groomers for skiers and snowboards of all ability levels to enjoy.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$596,062
$641,064
7.5%
$522
$631
20.9%
96
53
-44.8%
$1,275,000
$2,810,000
120.4%
49
156
218.4%
97.7%
100.6%
2.9%
Condominiums, Townhomes, Duplexes and Triplexes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$678,399
$797,869
17.6%
$579
$703
21.3%
87
14
-83.9%
$3,600,000
$3,850,000
6.9%
21
57
171.4%
96.5%
99.4%
3.0%
83.9%
The average days on market in Copper Mountain decreased by 83.9% January through June 2021 compared to that of 2020.
All Properties
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$3,600,000
$3,850,000
6.9%
$563
$605
7.5%
189
4
-97.9%
$3,600,000
$3,850,000
6.9%
1
1
0.0%
94.9%
96.4%
1.6%
COPPER MOUNTAIN
January through June
Single Family Homes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$532,319
$743,367
39.6%
$580
$705
21.5%
82
14
-82.9%
$920,000
$2,095,000
127.7%
20
56
180.0%
96.6%
99.4%
3.0%
Condominiums, Townhomes, Duplexes and Triplexes
Copper Mountain is located just 75 miles west of Denver and like most of the other notable areas of Summit County, Colorado, it is most known for its world-class ski resort. The resort features over 2,500 acres of naturally divided terrain catering to all skill levels, as well as terrain parks and the Woodward Barn Half Pipe where the world’s best skiers and riders compete to be the best.
COPPER MOUNTAIN
January through June
COPPER MOUNTAIN
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 | Summit County JANUARY - JUNE 2021 • COLORADOMICROREPORTS.COM