YEAR END 2021
Micro Market Report S U M M I T C O U N T Y, C O L O R A D O
2230 Golden Eagle Road
146 Lone Wolf Court
Summit County MARKET UPDATE
Affectionately known as “Colorado’s playground,” Summit County is comprised of the famous ski towns Breckenridge, Dillon, Frisco, Copper, Keystone, and Silverthorne. Known for its high elevation and steep peaks, Summit County is a winter lover’s paradise featuring four world-class ski resorts, Breckenridge, Copper, A-Basin, Keystone, and a wide variety of recreational activities from snowmobiling to snowshoeing. The excitement continues off the trails with endless craft breweries and restaurants, plus theatre, music, and festival opportunities like Ullr Fest, Winter Bluegrass, 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 four, this report is a year-over-year comparison of year-end 2020, compared to year-end 2021. The number of listings sold in Summit County for 2021 remained relatively the same as 2020, but the pace of the market increased by an astonishing 60.3%, with listings staying on the market for just 25 days in 2021 compared to 63 days in 2020. In Breckenridge, Summit County’s largest town, the highest sold price of a single family home surged an astonishing 142.9%—increasing from $7,000,000 to $17,000,000.
Buyers coming to Summit County should be prepared to act fast and, in most neighborhoods, be ready to pay more than they would have last year. Breckenridge, Frisco, Dillon/Summit Cove, and Silverthorne/Wildernest all experienced an average sold price increase of 20% or higher, with Dillon/Summit Cove increasing 34.3% from $600,404 to $806,559 in the last year. Home to well-known Lake Dillon, Dillion/Summit Cove also saw the county’s second-highest increase in the price of a singlefamily home, rising 78.1% from $1,965,000 to $3,500,000. From Keystone to Copper, all properties in Summit County increased in value from 2020 to 2021, and very few stayed on the market for longer than 30 days. Year over year, the mountain market race continues to grow in Summit County, with high home values and turnover signaling that now is the time to make moves in Colorado’s playground.
SUMMIT COUNTY January through December
2020
2021
% Change
Sold Listings (All Properties)
2,142
2,137
-0.2%
619
648
4.7%
1,523
1,489
-2.2%
63
25
-60.3%
$907,733
$1,136,426
25.2%
98.4%
101.3%
3.0%
$1,944,942,803
$2,428,542,319
24.9%
Sold Single Family Sold Condos/TH/DP 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 - DECEMBER 2021 • COLORADOMICROREPORTS.COM
The average price per square foot in Breckenridge increased by 28.3% January through December 2021 compared to that of 2020.
BRECKENRIDGE
BRECKENRIDGE
BRECKENRIDGE
28.3%
January through December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,186,177
$1,513,787
27.6%
$599
$768
28.3%
70
32
-54.3%
$7,000,000
$17,000,000
142.9%
778
797
2.4%
97.8%
99.8%
2.0%
All Properties
January through December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,681,230
$2,186,868
30.1%
$497
$648
30.4%
85
38
-55.3%
$7,000,000
$17,000,000
142.9%
325
344
5.8%
97.3%
99.5%
2.3%
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 December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$831,007
$1,002,662
20.7%
$672
$859
27.9%
59
27
-54.2%
$3,200,000
$4,150,000
29.7%
453
453
0.0%
98.2%
100.0%
1.9%
Condominiums, Townhomes, Duplexes and Triplexes
January through December
Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$831,343
$1,046,552
25.9%
$538
$688
27.9%
37
10
-73.0%
$2,050,000
$3,300,000
61.0%
207
200
-3.4%
98.4%
101.6%
3.2%
73.0% The average days on market in Frisco decreased by 73.0% January through December 2021 compared to that of 2020.
FRISCO
Average Sold Price
2020
All Properties
January through December Average Sold Price
Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$1,404,839
$1,858,784
32.3%
$492
$674
37.0%
67
11
-83.6%
$2,050,000
$3,300,000
61.0%
37
36
-2.7%
97.4%
100.4%
3.2%
FRISCO
Average Price per Square Foot
2020
Single Family Homes
January through December
Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2021
% Change
$706,524
$868,258
22.9%
$548
$691
26.1%
31
10
-67.7%
$1,695,000
$2,085,000
23.0%
170
164
-3.5%
98.7%
101.8%
3.2%
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 Sold Price
2020
The average sold price in Dillon/Summit Cove increased by 34.3% January through December 2021 compared to that of 2020.
DILLON/SUMMIT COVE
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$600,404
$806,559
34.3%
$442
$560
26.7%
64
12
-81.3%
$1,965,000
$3,500,000
78.1%
210
225
7.1%
98.5%
102.3%
3.8%
All Properties
DILLON/SUMMIT COVE
DILLON/SUMMIT COVE
34.3%
January through December
January through December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,002,159
$1,298,330
29.6%
$373
$492
31.9%
43
19
-55.8%
$1,965,000
$3,500,000
78.1%
49
60
22.4%
97.8%
102.4%
4.7%
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 December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$478,131
$627,733
31.3%
$463
$585
26.4%
70
10
-85.7%
$1,700,000
$1,605,000
-5.6%
161
165
2.5%
98.8%
102.2%
3.5%
Condominiums, Townhomes, Duplexes and Triplexes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$791,722
$977,200
23.4%
$435
$551
26.9%
53
31
-41.5%
$4,875,000
$3,999,000
-18.0%
532
512
-3.8%
99.3%
102.2%
2.9%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,270,470
$1,505,017
18.5%
$433
$534
23.2%
58
29
-50.0%
$4,875,000
$3,999,000
-18.0%
165
175
6.1%
98.9%
101.2%
2.4%
The average price per square foot in Silverthorne/Wildernest increased by 26.9% January through December 2021 compared to that of 2020.
SILVERTHORNE/WILDERNEST
January through December
26.9%
Single Family Homes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$576,482
$703,111
22.0%
$435
$561
28.8%
51
32
-37.3%
$1,400,000
$1,725,000
23.2%
367
337
-8.2%
99.5%
102.7%
3.2%
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 December
SILVERTHORNE/WILDERNEST
January through December
KEYSTONE
21.2%
The highest sold price in Keystone increased by 21.2% January through December 2021 compared to that of 2020.
January through December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$725,537
$843,172
16.2%
$533
$663
24.4%
68
38
-44.1%
$3,322,000
$4,025,000
21.2%
305
297
-2.6%
98.3%
101.2%
2.9%
All Properties
January through December
KEYSTONE
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$1,674,667
$1,957,844
16.9%
$429
$538
25.2%
67
43
-35.8%
$3,322,000
$4,025,000
21.2%
39
32
-17.9%
96.6%
100.0%
3.5%
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 December Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$586,379
$708,570
20.8%
$548
$678
23.8%
68
38
-44.1%
$1,500,000
$2,810,000
87.3%
266
265
-0.4%
98.6%
101.3%
2.8%
Condominiums, Townhomes, Duplexes and Triplexes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$735,087
$759,618
3.3%
$610
$729
19.5%
86
14
-83.7%
$3,600,000
$3,850,000
6.9%
110
106
-3.6%
97.4%
99.7%
2.4%
All Properties
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$3,092,000
$3,850,000
24.5%
$583
$605
3.8%
129
4
-96.9%
$3,600,000
$3,850,000
6.9%
4
1
-75.0%
95.0%
96.4%
1.5%
The average days on market in Copper Mountain decreased by 83.7% January through December 2021 compared to that of 2020.
COPPER MOUNTAIN
January through December
83.7%
Single Family Homes
Average Sold Price Average Price per Square Foot Average Days on Market Highest Sold Price Properties Sold % Sold Price to Original List Price
2020
2021
% Change
$646,147
$730,186
13.0%
$611
$730
19.5%
84
14
-83.3%
$1,930,000
$2,095,000
8.5%
106
105
-0.9%
97.5%
99.7%
2.3%
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 December
COPPER MOUNTAIN
January through December
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 - DECEMBER 2021 • COLORADOMICROREPORTS.COM