Summit County Year End 2017 Micro Market Report

Page 1

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.


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