Summit County Market Reports | Quarter 3 2021

Q3 2021

Micro Market Report SUMMIT COUNTY

Kindred Residences

513 Preston Way

Summit County MARKET UPDATE

Breckenridge, Dillon, Frisco, Copper, Keystone, and Silverthorne are all popular resort towns comprising Summit County, which is affectionately known as “Colorado’s playground.” The area offers unparalleled natural beauty and a host of diverse recreational activities—fishing, sailing and SUPing on Lake Dillon, hiking, biking, golf, tennis and, of course, world-class skiing at Breckenridge, Copper, A-Basin or Keystone. All that, along with its close driving proximity to Denver, is reason enough for this region to lure people to its peaks.

But there’s even more to love about Summit County.

There’s a tight-knit community, amazing dining options, and endless theatre, music and festival opportunities.

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. Real estate in Summit County has been in high demand for years, but as more people leave the congestion of big cities to live more intentionally, those numbers will likely keep growing.

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 three quarters of 2021 with those of the first three quarters of 2020. The average cost of a home in Summit County grew 22.5% this year, rising from $898,520 to $1,101,067. In Breckenridge, Summit County’s largest town, the highest price of a single family home surged a jaw-dropping 142.9%—increasing from $7,000,000 to $17,000,000!

Those planning to buy in Summit County should not only be prepared to pay more than they did at this time last year, they should also be ready to act fast. From January through September 2021, three neighborhoods—Copper Mountain, Dillon/Summit Cove, and Frisco— experienced a 74% or higher decrease in the average number of days a property sat on the market compared to the same time frame in 2020. And all Summit County neighborhoods saw some level of dayson-market decrease over the past year. Buyers are quickly snatching up properties, large and small, in this region. The average price-per-square-foot increased in every single Summit County neighborhood over last year at this time, with the largest increases concentrated in Breckenridge at $745 per square foot, up from $576 in 2020, and Dillon/Summit Cove, which saw a 34.1% increase over 2020’s single family home numbers.

Silverthorne/Wildernest and Keystone were close behind, with increases of 27.6% and 26.5%, respectively. One thing is clear— the price of paradise is going nowhere but up.

SUMMIT COUNTY January through September

2020

2021

% Change

Sold Listings (All Properties)

1,337

1,571

17.5%

Sold Single Family

402

470

16.9%

Sold Condos/TH/DP

935

1,101

17.8%

61

28

-54.1%

$898,520

$1,101,067

22.5%

98.1%

101.2%

3.2%

$1,201,900,338

$1,729,776,450

43.9%

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 - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM

The average price in Breckenridge increased by 25.8% January through September 2021 compared to that of 2020.

BRECKENRIDGE

BRECKENRIDGE

BRECKENRIDGE

25.8%

January through September 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

$1,179,318

$1,483,242

25.8%

$576

$745

29.3%

68

34

-50.0%

$7,000,000

$17,000,000

142.9%

493

563

14.2%

97.6%

100.0%

2.5%

All Properties

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

2020

2021

% Change

$1,607,106

$2,166,348

34.8%

$484

$633

30.9%

86

41

-52.3%

$7,000,000

$17,000,000

142.9%

218

247

13.3%

97.2%

100.0%

2.9%

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

2020

2021

% Change

$840,198

$949,295

13.0%

$650

$833

28.2%

55

29

-47.3%

$3,125,000

$3,631,500

16.2%

275

316

14.9%

97.9%

100.1%

2.2%

Condominiums, Townhomes, Duplexes and Triplexes

January through September

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

2021

% Change

$811,374

$1,042,645

28.5%

$545

$670

22.9%

35

9

-74.3%

$2,050,000

$3,300,000

61.0%

137

146

6.6%

98.2%

101.7%

3.5%

74.3% The average days on market in Frisco decreased by 74.3% January through September 2021 compared to that of 2020.

FRISCO

Average Price

2020

All Properties

January through September Average Price

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

2021

% Change

$1,297,322

$1,949,458

50.3%

$526

$664

26.4%

41

10

-75.6%

$2,050,000

$3,300,000

61.0%

22

24

9.1%

97.3%

100.6%

3.3%

Single Family Homes

January through September

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

2021

% Change

$718,410

$864,255

20.3%

$549

$671

22.3%

34

9

-73.5%

$1,695,000

$2,085,000

23.0%

115

122

6.1%

98.4%

101.9%

3.6%

Condominiums, Townhomes, Duplexes and Triplexes

FRISCO

Average Price

2020

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 per Square Foot

2020

DILLON/SUMMIT COVE DILLON/SUMMIT COVE DILLON/SUMMIT COVE

38.6% The average price in Dillon/Summit Cove increased by 38.6% January through September 2021 compared to that of 2020.

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

2020

2021

% Change

$592,859

$821,450

38.6%

$434

$545

25.5%

48

11

-77.1%

$1,700,000

$3,500,000

105.9%

122

165

35.2%

97.8%

102.8%

5.1%

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

2020

2021

% Change

$961,303

$1,300,198

35.3%

$367

$492

34.1%

49

17

-65.3%

$1,620,000

$3,500,000

116.0%

31

45

45.2%

97.8%

103.8%

6.2%

Single Family Homes

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

2020

2021

% Change

$467,345

$641,920

37.4%

$457

$565

23.5%

48

9

-81.3%

$1,700,000

$1,605,000

-5.6%

91

120

31.9%

97.8%

102.4%

4.7%

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

$767,096

$939,747

22.5%

$422

$538

27.6%

56

30

-46.4%

$2,875,000

$3,800,000

32.2%

359

366

1.9%

98.8%

102.5%

3.7%

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

$1,225,145

$1,434,076

17.1%

$413

$520

25.9%

60

27

-55.0%

$2,875,000

$3,800,000

32.2%

107

128

19.6%

98.6%

101.5%

2.9%

The average price in Silverthorne/ Wildernest increased by 22.5% January through September 2021 compared to that of 2020.

SILVERTHORNE/WILDERNEST

January through September

22.5%

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

$572,607

$673,889

17.7%

$425

$548

28.8%

54

32

-40.7%

$1,400,000

$1,680,000

20.0%

252

238

-5.6%

98.9%

103.1%

4.2%

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 September

SILVERTHORNE/WILDERNEST

January through September

KEYSTONE

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

2020

2021

% Change

$700,635

$803,057

14.6%

$511

$647

26.5%

72

42

-41.7%

$2,590,000

$4,025,000

55.4%

173

245

41.6%

98.0%

101.0%

3.1%

KEYSTONE

KEYSTONE

All Properties

55.4% The highest price in Keystone increased by 55.4% January through September 2021 compared to that of 2020.

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

2020

2021

% Change

$1,483,786

$1,912,780

28.9%

$403

$514

27.5%

86

40

-53.5%

$2,590,000

$4,025,000

55.4%

21

25

19.0%

96.4%

99.9%

3.6%

Single Family Homes

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

2020

2021

% Change

$592,436

$676,952

14.3%

$526

$662

25.7%

70

42

-40.0%

$1,300,000

$2,810,000

116.2%

152

220

44.7%

98.3%

101.2%

3.0%

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

$751,575

$770,344

2.5%

$601

$719

19.8%

88

14

-84.1%

$3,600,000

$3,850,000

6.9%

53

86

62.3%

97.1%

99.5%

2.4%

62.3% The amount of properties sold in Copper Mountain increased by 62.3% January through September 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

$3,200,000

$3,850,000

20.3%

$602

$605

0.6%

166

4

-97.6%

$3,600,000

$3,850,000

6.9%

3

1

-66.7%

95.8%

96.4%

0.6%

COPPER MOUNTAIN

January through September

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

$604,670

$734,112

21.4%

$600

$721

20.0%

83

14

-83.1%

$1,825,000

$2,095,000

14.8%

50

85

70.0%

97.2%

99.5%

2.4%

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 September

COPPER MOUNTAIN

January through September

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 - SEPTEMBER 2021 • COLORADOMICROREPORTS.COM