MICROMARKET REPORT |
Summit County • 2018
SUMMIT COUNTY (Servicing the Resort Communities of Breckenridge & Keystone)
3
5
1. 6
Copper Mountain
2. Frisco 3. Silverthorne
2
4. Breckenridge 5. Dillon 6. Keystone 1 4
Pictured on cover: 639 Gold Run Road, Breckenridge
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SUMMIT COUNTY market update With no shortage of year-round activities and breathtaking mountain vistas at every turn, it is no surprise that the Summit County (Breckenridge, Keystone, Copper) real estate market delivered positive results in 2017. Located on the western side of the Continental Divide (less than a two-hour drive from Denver), the Summit County real estate market demonstrated growth in both number of properties sold and average sales price, based on consumers’ continued desire for lifestyle-inspired home purchases, coupled with little available inventory. The number of sold listings increased 6%, from 1,862 listings sold in 2016, to 1,973 listings sold in January through December 2017. The average sales price in Summit County also rose, up 16.8%, from 2016. Across the board, days on market dropped 22.5% year-over-year, from 80 days in 2016, to just 62 days in 2017, an excellent time frame in a resort market, where homes typically stay on the market longer. The number of days a home in Summit County remains on the market averages just two months, demonstrates extremely competitive conditions in the region’s highly desirable marketplace.
SUMMIT COUNTY January through December Sold Listings (All Properties) Sold Single Family Sold Condos/TH/DP Average Days on Market Average Price % Sold Price to List Price Total Dollar Volume Sold
2016
2017
% Change
1,862
1,973
6.0%
508
571
12.4%
1,354
1,402
3.5%
80
62
-22.5%
$599,586
$700,377
16.8%
97.1%
98.4%
1.3%
$1,116,446,950
$1,381,843,993
23.8%
All Properties
Highlights from the Summit County area include the average price of Frisco’s single-family homes rising to $1,074,545, up 25% from 2016 and Keystone’s average price of all properties rising to $564,146, up 23.5% from 2016. Breckenridge/Blue River’s average price of all properties rose to $922,812, up 15.5%, from 2016. Known locally as ‘Colorado’s Playground,’ real estate values are projected to rise based on consumers’ continued desire to purchase homes in areas that offer exceptional year-round opportunities for recreation.
livsothebysrealty.com
Based on Information from SAR MLS. This representation is based in whole or in part on data supplied by SAR MLS. SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by SAR MLS may not reflect all real estate activity in the market.
MICROMARKET REPORT | Summit County 2018 • COLORADOMICROREPORTS.COM
BRECKENRIDGE/BLUE RIVER January through December Average Price
2016
$922,812
15.5%
$435
$497
14.3%
112
76
-32.1%
$5,675,000
$6,100,000
7.5%
676
733
8.4%
97.0%
97.4%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$799,139
Average Price per Square Foot
Highest Price
2017
All Properties 1003 Boreas Pass Road, Breckenridge
BRECKENRIDGE/BLUE RIVER January through December
2016
2017
Average Price
$1,123,027
$1,287,506
14.6%
$348
$404
16.2%
128
104
-18.8%
$5,675,000
$6,100,000
7.5%
284
320
12.7%
96.4%
96.4%
0.0%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
14.6%
January through December 2017, the average price of single family homes in Breckenridge/Blue River increased by 14.6% compared to that of 2016.
Single Family Homes
BRECKENRIDGE/BLUE RIVER January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$564,486
$640,241
13.4%
$498
$570
14.3%
100
54
-46.0%
$2,350,000
$2,803,600
19.3%
392
413
5.4%
97.4%
98.2%
0.8%
Breckenridge Ski Resort, ranked by annual skier visits, is the second most visited ski resort in the United States and offers 34 lifts, 187 trails, and 2,327 acres of Colorado’s finest terrain.
Condos, Townhomes, Duplexes
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FRISCO January through December
Frisco has a 1-mile radius, which offers visitors an easily walkable experience to the many local shops and restaurants, hiking trails, and parks the town boasts.
2016
Average Price
$655,319
8.8%
$393
$423
7.8%
47
41
-12.8%
$1,700,000
$2,492,500
46.6%
191
163
-14.7%
98.1%
97.6%
-0.5%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$602,403
Average Price per Square Foot
Highest Price
2017
All Properties
FRISCO January through December
2016
Average Price
$1,074,545
25.0%
$366
$402
9.9%
35
54
54.3%
$1,700,000
$2,492,500
46.6%
33
33
0.0%
97.2%
96.6%
-0.6%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$859,520
Average Price per Square Foot
Highest Price
2017
Single Family Homes 322 Forest Drive, Frisco
7.6%
The average price per square foot for condos, townhomes, and duplexes in Frisco increased by 7.6% January through December 2017 compared to that of 2016.
FRISCO January through December
2016
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
$548,701
$548,900
0.0%
$398
$429
7.6%
49
38
-22.4%
$1,090,000
$1,140,000
4.6%
158
130
-17.7%
98.3%
97.8%
-0.5%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
DILLON/SUMMIT COVE January through December Average Price
2016
$425,769
11.3%
$291
$335
15.0%
37
23
-37.8%
$1,650,000
$1,645,000
-0.3%
212
203
-4.2%
98.0%
98.4%
0.3%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$382,507
Average Price per Square Foot
Highest Price
2017
Dillon boasts the largest fresh water reservoir in Summit County, Lake Dillon, and is conveniently located south of I-70 with quick access to Frisco and Silverthorne.
All Properties
DILLON/SUMMIT COVE January through December Average Price
2016
$761,988
12.0%
$260
$287
10.3%
71
35
-50.7%
$1,650,000
$1,645,000
-0.3%
53
50
-5.7%
97.6%
97.5%
-0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$680,414
Average Price per Square Foot
Highest Price
2017
Single Family Homes 780 Alpine Drive, Dillon
DILLON/SUMMIT COVE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2016
2017
% Change
$283,204
$315,893
11.5%
$302
$351
16.2%
25
19
-24.0%
$995,000
$889,000
-10.7%
159
153
-3.8%
98.2%
98.8%
0.7%
11.5%
The average price for condos, townhomes, and duplexes in Dillon/Summit Cove increased by 11.5% January through December 2017 compared to that of 2016.
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SILVERTHORNE/WILDERNEST January through December
2016
Average Price
$627,057
17.7%
$303
$352
16.1%
50
52
4.0%
$2,750,000
$3,000,000
9.1%
394
425
7.9%
98.1%
98.4%
0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$532,629
Average Price per Square Foot
Highest Price
2017
All Properties 125 Two Cabins Drive, Silverthorne
9.2%
January through December 2017, the average price per square foot for single family homes in Silverthorne/Wildernest increased by 9.2% compared to that of 2016.
SILVERTHORNE/WILDERNEST January through December
2016
Average Price
$991,727
13.4%
$310
$339
9.2%
79
77
-2.5%
$2,750,000
$3,000,000
9.1%
110
137
24.5%
97.6%
97.4%
-0.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$874,332
Average Price per Square Foot
Highest Price
2017
Single Family Homes
SILVERTHORNE/WILDERNEST January through December
2016
Average Price Average Price per Square Foot
Silverthorne, the second most populous town in Summit County, and is beautifully situated between the Gore Range and Continental Divide.
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
$400,278
$453,586
13.3%
$300
$358
19.5%
38
40
5.3%
$866,000
$994,000
14.8%
284
288
1.4%
98.3%
98.9%
0.7%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
2018 •COLORADOMICROREPORTS.COM
KEYSTONE January through December Average Price
2016
$564,146
23.5%
$368
$437
18.8%
69
57
-17.4%
$2,450,000
$2,645,000
8.0%
292
339
16.1%
97.3%
98.1%
0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$456,655
Average Price per Square Foot
Highest Price
2017
All Properties 76 East Trade Court, Keystone
KEYSTONE January through December Average Price
2016
$1,321,714
8.1%
$309
$336
8.7%
144
226
56.9%
$2,450,000
$2,645,000
8.0%
27
26
-3.7%
95.3%
94.1%
-1.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$1,222,546
Average Price per Square Foot
Highest Price
2017
Keystone Resort ski area offers access to 3 seperate mountains, Dercum Mountain, North Peak, and The Outback, and provides visitors with numerous winter and summer outdoor activities.
Single Family Homes
KEYSTONE January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2016
2017
% Change
$388,382
$501,216
29.1%
$374
$445
19.2%
61
43
-29.5%
$1,065,000
$1,325,000
24.4%
265
313
18.1%
97.5%
98.4%
0.9%
29.1%
The average price per square foot for condos, townhomes, and duplexes in Keystone increased by 29.1% January through December 2017 compared to that of 2016.
Condos, Townhomes, Duplexes
coloradomicroreports.com
30.0%
January through December 2017, the average price in Copper Mountain increased by 30.0% compared to that of 2016.
COPPER MOUNTAIN January through December
2016
Average Price
$496,229
30.0%
$419
$469
12.1%
184
126
-31.5%
$1,420,000
$2,800,000
97.2%
95
109
14.7%
96.3%
97.1%
0.8%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$381,719
Average Price per Square Foot
Highest Price
2017
All Properties
COPPER MOUNTAIN January through December
2016
2017
% Change
Average Price
-
$2,231,250
-
Average Price per Square Foot
-
$576
-
Average Days on Market
-
417
-
Highest Price
-
$2,800,000
-
No Sales
4
-
-
94%
-
Properties Sold % Sold Price to List Price Single Family Homes 1028 Beeler Place, Copper Mountain
COPPER MOUNTAIN January through December
2016
Average Price
Copper Mountain is conveniently located just 75 miles from Denver and boasts 2,490 acres of ski terrain.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2017
% Change
$381,719
$430,133
12.7%
$419
$465
11.2%
184
115
-37.5%
$1,420,000
$1,925,000
35.6%
95
105
10.5%
96.3%
97.2%
0.9%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
2018 • COLORADOMICROREPORTS.COM
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livsothebysrealty.com | coloradomicroreports.com Based on Information from SAR MLS. This representation is based in whole or in part on data supplied by SAR MLS. SAR MLS does not guarantee nor is in any way responsible for its accuracy. Data maintained by SAR MLS may not reflect all real estate activity in the market.