Micro Market Report
SUMMIT COUNTY, COLORADO
983 Emerald Road25 Sage Drive Q3 2022
Summit County MARKET UPDATE
Established in 1861 and originally renowned for its silver and gold mines, Summit County is comprised of the mountain towns Breckenridge, Dillon, Frisco, Copper, Keystone, and Silverthorne. Known for its high elevation and world-class ski resorts, Summit County has no shortage of year-round activities, including hiking and biking on the miles of trails and boating on Lake Dillon. The excitement continues with endless craft breweries and restaurants and performances at the Dillon Amphitheatre. Summit County is less than a hundred miles from Denver, making it easily accessible for Colorado Front Range residents and visitors alike.
With just over 31,000 residents and growing, Summit County is a mecca for outdoor enthusiasts seeking a 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 in smaller communities with access to outdoor recreation. As this desire grows stronger, real estate in Summit County will 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 three, this report is a year-over-year comparison of the first nine months of 2021 compared to the first nine months of 2022, analyzing January through September.
Summit County remains a desirable market, reflected in the 18.1% increase in average sold price
to $1.29 million in properties across the county. After a redhot sales year in 2021, inventory is lower, resulting in a 35% decrease in sold listings compared to the previous year. Breckenridge had the highest average sold price, up 16.3% to $1.72 million. Keystone saw the largest jump in average sold price, increasing 27.2% to $1.02 million in the past nine months. Frisco also had a significant 22.2% jump in average sold price, from $1.04 million to $1.27 million. Inventory in Dillon/Summit Cove was only on the market for an average of 12 days, as buyers dashed to make quick decisions in this lakefront community.
Continue reading to learn more about how the real estate market in Summit County performed during the first nine 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
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
January through September 2021 2022 % Change Sold Listings (All Properties) 1,575 1,023 -35.0% Sold Single Family 470 312 -33.6% Sold Condos/TH/DP 1,105 711 -35.7% Average Days on Market 28 22 -21.4% Average Price $1,100,139 $1,299,143 18.1% % Sold Price to List Price 101.2% 100.2% -1.0% Total Dollar Volume Sold $1,732,718,550 $1,329,023,670 -23.3% All Properties
SUMMIT COUNTY
MICRO MARKET REPORT | Summit County JANUARY SEPTEMBER 2022 • COLORADOMICROREPORTS.COMlivsothebysrealty.com
NEIGHBORHOODS 1. Breckenridge 2. Copper Mountain 3. Frisco 4. Silverthorne 5. Dillon 6. Keystone 3 45 6 2 1
January through September
16.3%
The average price in Breckenridge increased by 16.3% January through September 2022 compared to that of 2021.
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.
2022 % Change
Average Price $1,483,242 $1,725,715 16.3%
Average Price per Square Foot
Average Days on Market
$898 20.5%
26 -23.5%
Highest Price $17,000,000 $12,200,000 -28.2%
Properties Sold
-43.2%
% Sold Price to Original List Price 100.0% 99.1% -0.9%
All Properties
January through September
2022 % Change
Average Price $2,166,348 $2,366,578 9.2%
Average Price per Square Foot $633.04 $772 21.9%
Average Days on Market
28 -31.7%
Highest Price $17,000,000 $12,200,000 -28.2%
Properties Sold
149 -39.7%
% Sold Price to Original List Price 100.0% 98.7% -1.3%
Single Family Homes
January through September
2021 2022 % Change
Average Price $949,295 $1,167,302 23.0%
Average Price per Square Foot $833 $1,009 21.1%
Average Days on Market 29 25 -13.8%
Highest Price $3,631,500 $4,400,000 21.2%
Properties Sold
171 -45.9%
% Sold Price to Original List Price 100.1% 99.5% -0.6%
Condominiums, Townhomes, Duplexes and Triplexes
BRECKENRIDGE BRECKENRIDGE BRECKENRIDGE
2021
41
247
2021
$745
34
563 320
316
Average Price
Average Price
Average
Highest Price
All Properties
18.5%
The average price per square foot in Frisco increased by 18.5%
January through September 2022 compared to that of 2021.
Average Price
Average Price per
Average
Highest Price
Price
January through
Average Price
Average Price per Square
Average Days on Market
Highest Price
%
Price to
Single Family Homes
Change
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 FRISCO FRISCO
January through September 2021 2022 % Change
$1,949,458 $1,976,026 1.4%
Square Foot $664 $748 12.6%
Days on Market 10 28 180.0%
$3,300,000 $3,250,000 -1.5% Properties Sold 24 23 -4.2% % Sold
to Original List Price 100.6% 96.8% -3.8%
January through September 2021 2022 % Change
$1,042,649 $1,273,775 22.2%
per Square Foot $670 $794 18.5%
Days on Market 9 14 55.6%
$3,300,000 $3,250,000 -1.5% Properties Sold 146 102 -30.1% % Sold Price to Original List Price 101.7% 101.1% -0.6%
September 2021 2022 %
$864,260 $1,069,322 23.7%
Foot $671 $808 20.3%
9 10 11.1%
$2,085,000 $2,192,850 5.2% Properties Sold 122 79 -35.2%
Sold
Original List Price 101.9% 102.3% 0.4%
The average days on market in Dillon/Summit Cove increased by 9.1% January through September 2022 compared to that of 2021.
January through September
2022 % Change
Average Price $817,764 $922,053 12.8%
Average Price per Square Foot $545 $692 27.1%
Average Days on Market 11 12 9.1%
Highest Price $3,500,000 $2,475,000 -29.3%
Properties Sold 164 103 -37.2%
% Sold Price to Original List Price 102.7% 101.8% -0.9%
All Properties
January through September
2021 2022 % Change
Average Price $1,297,338 $1,344,472 3.6%
Average Price per Square Foot $491 $578 17.9%
Average Days on Market 17 15 -11.8%
Highest Price $3,500,000 $2,040,000 -41.7%
Properties Sold 44 28 -36.4%
% Sold Price to Original List Price 103.6% 101.1% -2.4%
Single Family Homes
January through September
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.
2021 2022 % Change
Average Price $641,920 $764,350 19.1%
Average Price per Square Foot $565 $735 30.1%
Average Days on Market 9 10 11.1%
Highest Price $1,605,000 $2,475,000 54.2%
Properties Sold 120 75 -37.5%
% Sold Price to Original List Price 102.4% 102.1% -0.3%
Condominiums, Townhomes, Duplexes and Triplexes
DILLON/SUMMIT COVE DILLON/SUMMIT COVE DILLON/SUMMIT COVE
2021
9.1%
January through
Average Price
Average Price per Square
Average Days on
Highest Price
%
Price to
January through
Average Price
Average Price per Square Foot
Average Days on Market
Highest Price
% Sold Price to Original List Price
All Properties
71.1%
The highest price in Silverthorne/ Wildernest increased by 71.1%
January through September 2022 compared to that of 2021.
% Change
January through September
Average Price
Average Price per Square Foot
Average Days on Market
Highest Price
%
Price to
Single Family Homes
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.
Condominiums, Townhomes, Duplexes and Triplexes
SILVERTHORNE/WILDERNEST SILVERTHORNE/WILDERNEST SILVERTHORNE/WILDERNEST
September 2021 2022
$1,434,014 $1,874,186 30.7%
$520 $596 14.4%
26 38 46.2%
$3,800,000 $6,500,000 71.1% Properties Sold 129 94 -27.1%
101.6% 99.6% -2.0%
September 2021 2022 % Change
$938,297 $1,188,145 26.6%
Foot $540 $619 14.6%
Market 30 29 -3.3%
$3,800,000 $6,500,000 71.1% Properties Sold 370 250 -32.4%
Sold
Original List Price 102.5% 100.3% -2.1%
2021 2022 % Change
$672,955 $774,761 15.1%
$550 $633 15.0%
32 24 -25.0%
$1,680,000 $2,150,000 28.0% Properties Sold 241 156 -35.3%
Sold
Original List Price 103.0% 100.8% -2.2%
January through September
27.2%
The average price in Keystone increased by 27.2% January through September 2022 compared to that of 2021.
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.
2022 % Change
Average Price $804,447 $1,023,473 27.2%
Average Price per Square Foot $647 $800 23.8%
Average Days on Market 42 14 -66.7%
Highest Price $4,025,000 $4,375,000 8.7%
Properties Sold 246 197 -19.9%
% Sold Price to Original List Price 101.0% 100.7% -0.3%
All Properties
January through September
2022 % Change
Average Price $1,912,780 $2,518,151 31.6%
Average Price per Square Foot $514 $653 27.0%
Average Days on Market 40 30 -25.0%
Highest Price $4,025,000 $4,375,000 8.7%
Properties Sold 25 14 -44.0%
% Sold Price to Original List Price 99.9% 95.3% -4.6%
Single Family Homes
January through September
2021 2022 % Change
Average Price $679,070 $909,126 33.9%
Average Price per Square Foot $661 $812 22.7%
Average Days on Market 42 13 -69.0%
Highest Price $2,810,000 $2,300,000 -18.1%
Properties Sold 221 183 -17.2%
% Sold Price to Original List Price 101.2% 101.1% 0.0%
Condominiums, Townhomes, Duplexes and Triplexes
KEYSTONE KEYSTONE KEYSTONE
2021
2021
January through
Average Price
Average Price per
Average Days
Highest Price
%
Price
January through
Average Price
Average Price per Square
Average Days
Highest Price
%
Price to
All Properties
22.6%
The average price per square foot in Copper Mountain increased by 22.6%
January through September 2022 compared to that of 2021.
Single Family Homes
January through September
Average Price
Average Price per Square
Average Days on Market
Highest Price
%
Price
Change
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.
Condominiums, Townhomes, Duplexes and Triplexes
COPPER MOUNTAIN COPPER MOUNTAIN COPPER MOUNTAIN
September 2021 2022 % Change
$3,850,000 $3,982,769 3.4%
Foot $605 $766 26.5%
on Market 4 13 225.0%
$3,850,000 $5,431,074 41.1% Properties Sold 1 4 300.0%
Sold
Original List Price 96.4% 99.0% 2.7%
September 2021 2022 % Change
$770,344 $1,054,859 36.9%
Square Foot $719 $882 22.6%
on Market 14 18 28.6%
$3,850,000 $5,431,074 41.1% Properties Sold 86 50 -41.9%
Sold
to Original List Price 99.5% 98.8% -0.7%
2021 2022 %
$734,112 $800,258 9.0%
Foot $721 $892 23.8%
14 18 28.6%
$2,095,000 $1,900,000 -9.3% Properties Sold 85 46 -45.9%
Sold
to Original List Price 99.5% 98.8% -0.7%
WHY COLORADO?
04 07 28NATIONAL PARKS MOUNTAIN RANGES SKI AREAS & RESORTS
AVG DAYS OF SUNSHINE ANNUALY CRAFT BREWERIES 300 350+