M I D -Y E A R 2 0 2 2
Micro Market Report S U M M I T C O U N T Y, C O L O R A D O
803 Gold Run Road
983 Emerald Road
Summit County MARKET UPDATE
Affectionately known as “Colorado’s playground,” Summit County is comprised of the famous mountain towns Breckenridge, Dillon, Frisco, Copper, Keystone, and Silverthorne. Known for its high elevation and steep peaks, Summit County has no shortage of year-round activities, including hiking, biking, and water activities like fly fishing and paddle boarding. The excitement continues off the trails with endless craft breweries and restaurants, plus theatre, music, and festival opportunities like the Bluegrass and Beer Festival, Breckenridge Wine Classic, and more. Along with Summit County’s proximity to Denver, all that is reason enough for this region to lure people to its peaks. With just over 31,000 residents and growing, Summit County is a mecca for outdoor enthusiasts seeking a lifestyle move to the place where they can chase adventure. This migration to the mountains has only grown stronger in the past several years, with people leaving the congestion of big cities to live more intentionally. As this desire grows stronger, real estate in Summit County will only continue to grow in popularity. Every quarter, LIV Sotheby’s International Realty produces a Micro Market Report focused on the real estate activity in Summit County neighborhoods. For quarter two, this micro market report provides a year-over-year comparison of the first six months of 2021 compared to the first six months of 2022, analyzing January through June. Inventory in Summit County moved off the market quickly during the first two quarters of 2022, putting pressure on buyers to make decisions in half the time
compared to 2021, with most listings lasting an average of just 16 days on the market compared to 32 days last year. While the market pace increased, the amount of inventory did not. Year over year, 33.9% fewer properties were sold during the first six months of 2022, down to 637 compared to 964 in 2021. As the market inventory slimmed down and the pace picked up, the demand for high country living increased, with the average sold price rising 29.9% throughout the county. Of the six coveted communities, Silverthorne/Wildernest saw the largest increase in average sold price, rising 43.5% from $923,082 in 2021 to $1,324,656 this year. Continue reading to learn more about how the real estate market in Summit County performed during the first six months of the year. This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods (single family, unless otherwise indicated): Breckenridge, Copper Mountain, Dillon, Frisco, Keystone, and Silverthorne.
SUMMIT COUNTY January through June
2021
2022
% Change
Sold Listings (All Properties)
964
637
-33.9%
Sold Single Family
271
192
-29.2%
Sold Condos/TH/DP
693
445
-35.8%
32
16
-50.0%
$1,046,229
$1,359,149
29.9%
101.1%
101.7%
0.6%
$1,008,565,067
$865,778,022
-14.2%
Average Days on Market Average 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 2022 • COLORADOMICROREPORTS.COM
The average price in Breckenridge increased by 27.7% January through June 2022 compared to that of 2021.
BRECKENRIDGE
BRECKENRIDGE
BRECKENRIDGE
27.7%
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$1,401,297
$1,788,906
27.7%
$724
$913
26.1%
40
19
-52.5%
$17,000,000
$12,200,000
-28.2%
337
203
-39.8%
100.1%
100.7%
0.7%
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
2021
2022
% Change
$2,044,421
$2,442,781
19.5%
$607.00
$754
24.2%
44
21
-52.3%
$17,000,000
$12,200,000
-28.2%
140
96
-31.4%
100.2%
100.6%
0.4%
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 this historic mountain 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
2021
2022
% Change
$944,254
$1,202,253
27.3%
$807
$1,055
30.7%
36
18
-50.0%
$3,631,500
$4,400,000
21.2%
197
107
-45.7%
100.0%
100.8%
0.9%
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
2022
% Change
$1,009,336
$1,317,452
30.5%
$639
$824
29.0%
7
10
42.9%
$3,300,000
$3,250,000
-1.5%
79
60
-24.1%
102.0%
103.2%
1.2%
All Properties
January through June Average Price
Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2022
% Change
$1,862,786
$2,241,591
20.3%
$629
$782
24.2%
10
37
270.0%
$3,300,000
$3,250,000
-1.5%
14
11
-21.4%
101.5%
97.4%
-4.0%
The average price per square foot in Frisco increased by 29.0% January through June 2022 compared to that of 2021.
FRISCO
Average Price per Square Foot
2021
29.0%
FRISCO
Average Price
2021
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
2022
% Change
$825,516
$1,109,992
34.5%
$641
$834
30.1%
6
4
-33.3%
$1,899,000
$2,192,850
15.5%
65
49
-24.6%
102.1%
104.5%
2.3%
Condominiums, Townhomes, Duplexes and Triplexes
Founded in 1873, Frisco, Colorado is located just 70 miles west from Denver and is affectionately known by locals as the “Main Street of the Rockies”. This quaint and historic Colorado mountain town offers an abundance of activities to do year-round. Ideally situated near four ski resorts in Breckenridge, Keystone, Copper Mountain and Arapahoe Basin, the Town of Frisco attracts skiers and riders from all over the world.
FRISCO
Average Price
2021
DILLON/SUMMIT COVE
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold
The average days on market in Dillon/Summit Cove decreased by 25.0% January through June 2022 compared to that of 2021.
DILLON/SUMMIT COVE
DILLON/SUMMIT COVE
25.0%
January through June
% Sold Price to Original List Price
2021
2022
% Change
$807,727
$884,214
9.5%
$534
$688
28.8%
8
6
-25.0%
$3,500,000
$2,389,000
-31.7%
94
61
-35.1%
103.3%
104.1%
0.8%
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
2021
2022
% Change
$1,291,350
$1,319,786
2.2%
$485
$570
17.5%
14
11
-21.4%
$3,500,000
$1,900,000
-45.7%
24
14
-41.7%
103.8%
105.1%
1.3%
Single Family Homes
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
2021
2022
% Change
$641,913
$754,470
17.5%
$551
$723
31.3%
7
5
-28.6%
$1,605,000
$2,389,000
48.8%
70
47
-32.9%
103.1%
103.8%
0.6%
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
2021
2022
% Change
$923,082
$1,324,656
43.5%
$509
$648
27.2%
31
24
-22.6%
$3,800,000
$6,500,000
71.1%
227
148
-34.8%
102.1%
101.6%
-0.6%
All Properties
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$1,475,419
$2,158,155
46.3%
$523
$618
18.2%
26
38
46.2%
$3,800,000
$6,500,000
71.1%
79
57
-27.8%
101.2%
99.9%
-1.3%
The highest price in Silverthorne/ Wildernest increased by 71.1% January through June 2022 compared to that of 2021.
SILVERTHORNE/WILDERNEST
January through June
71.1%
Single Family Homes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$628,254
$802,575
27.7%
$502
$667
32.8%
33
15
-54.5%
$1,325,000
$2,150,000
62.3%
148
91
-38.5%
102.6%
102.6%
0.0%
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
40.1% The average price in Keystone increased by 40.1% January through June 2022 compared to that of 2021.
January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2022
% Change
$740,952
$1,037,808
40.1%
$624
$808
29.6%
52
11
-78.8%
$4,025,000
$4,375,000
8.7%
169
126
-25.4%
100.6%
102.1%
1.5%
All Properties
January through June Average Price
KEYSTONE
2021
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$1,939,615
$2,575,912
32.8%
$538
$667
23.9%
36
27
-25.0%
$4,025,000
$4,375,000
8.7%
13
10
-23.1%
99.6%
98.4%
-1.2%
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 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
2021
2022
% Change
$641,064
$905,213
41.2%
$631
$821
30.0%
53
10
-81.1%
$2,810,000
$2,300,000
-18.1%
156
116
-25.6%
100.6%
102.4%
1.8%
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
2021
2022
% Change
$791,440
$1,098,280
38.8%
$705
$860
22.0%
13
15
15.4%
$3,850,000
$5,431,074
41.1%
58
39
-32.8%
99.4%
99.3%
-0.1%
All Properties
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$3,850,000
$3,982,769
3.4%
$605
$766
26.5%
4
13
225.0%
$3,850,000
$5,431,074
41.1%
1
4
300.0%
96.4%
99.0%
2.7%
The average price per square foot in Copper Mountain increased by 22.0% January through June 2022 compared to that of 2021.
COPPER MOUNTAIN
January through June
22.0%
Single Family Homes
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to Original List Price
2021
2022
% Change
$737,781
$768,625
4.2%
$707
$871
23.2%
14
16
14.3%
$2,095,000
$1,550,000
-26.0%
57
35
-38.6%
99.5%
99.3%
-0.1%
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 2022 • COLORADOMICROREPORTS.COM