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