THE REAL ESTATE OF WINTER PARK REPORT [ Annual Market Review ]
REWinterPark.com • 970.726.2600 Located in Downtown Winter Park, CO • 78622 US Hwy 40
And now we welcome the new year. Full of things that have never been. - Rainer Maria Rilke Starting off the year in sub zero temperatures has given us some indoor time at desks to reflect on the whirlwind of events in 2015. Most urban and rural markets across the US have fully recovered from the glut of foreclosures, short sales and depressed real estate values. We are feeling warm and fuzzy about this rebound in Grand County. Here is a snap shot of 2015: Total sales dollars spent on real estate in Grand County were up 17% in 2015 vs 2014. Some notable statistics show that the historically strong 4th Quarter was bustling!! 38% of all Winter Park area condos and townhomes sold in the last three months of 2015. This left many scrambling for property before year-end holidays and the 2016 ski season. Winter Park area home sales were strong but flat....they were strong in 2014 as well. Vacant land continues to be the slowest moving sector of our market but the number of units sold were up in all of Grand County. Grand Lake home sales boomed in 2015 as the number of home sold was up 48% vs 2014 and the overall sales volume was up 74%! The Kremmling home market was up 118% for sales dollars!! Those are crazy big jumps in sales! In 2016, we predict rapid condo and townhome building as developers are trying “catch up” to provide new inventory in a market that hasn’t seen much, if any, new building since 2007. We expect the “face” of Highway 40 to morph with new residential and commercial building to go with the new traffic lights. We hope to ride on new municipal public transportation in the next twelve to twenty four months. We at REWP support smart and thoughtful growth. Cheers to another exciting year in our mountain paradise!
More Informa tion The original Map Book of Grand County will lead you through our county from the Winter Park Ski Area to Grand Lake and Hot Sulphur Springs
The REWP Map Book of Grand County
Our easy to navigate website allows you to search all available properties in Grand County.
www.rewinterpark.com
The REWP Property Book features all of our current listings with detailed neighborhood descriptions, in an easy to follow tour through the county.
The REWP Property Guide of Grand County
Two highly optimized & responsive websites means that your property has a better chance of being “found” online.
realtywinterpark.com
rewinterpark.com
GRAND COUNTY County Land Area: 1,847 square miles County Water Area: 23 square miles Publically owned land: +/- 75% Grand County Established: 1874
Population: 14,790 Homeownership Rate: 75.5% Average persons per household: 2.75 Median Age: 41
GRAND LAKE Population: 421 Elevation: 8437 ft Established: 1881 Zipcode: 80447
HOT SULPHUR SPRINGS
KREMMLING Population: 1,444 Elevation: 7313 ft Zipcode: 80459 The Blue River and Muddy Creek join the headwaters of the CO River.
GRANBY Population: 1,864 Elevation: 7935 ft Zipcode: 80446 Average Annual Snowfall: 128 in
Population: 663 Elevation: 7680 ft Zipcode: 80451 The County Seat
Grand Lake is the largest and deepest natural lake in Colorado. TABERNASH Population: 417 Elevation: 8326 ft Zipcode: 80478 Named after a Ute Indian.
To Silverthorne
FRASER Population: 1,224 Elevation: 8574 ft Zipcode: 80442 Avg Annual Snowfall: 143 in Avg Sunny Days Annually: 244
WINTER PARK Population: 999 Elevation: 9040 ft Zipcode: 80482 Avg Annual Snowfall: 322.5 in Winter Park began as two small settlements - Old Town & Hideaway Park.
WINTER PARK RESORT Formally Opened in 1940 Avg. Annual Snowfall: 322.5 in Skiable Acres: 3,081 Base Elevation: 9,000 ft. Summit Elevation: 12,060 ft.
2
Winter Park, CO - Single Family Home LISTINGS & ABSORPTION RATES 2014-2015
Active Listings
New Listings
Sold Listings
Months of Inventory
HOW TO READ THIS GRAPH New Listings - A measure of how much new supply is coming onto the market from sellers. Pending/Under Contract - A count of all the listings that went Under Contract during the reported period. Sold Listings - A measure of home sales that were closed during the reported period. Average Sales Price - A sum of all home sales prices divided by total number of sales. Days on Market - A measure of how long it takes homes to sell.
Active Listings - A measure of the number of homes available for sale at a given time. The availability of homes for sale has a big effect on supply-demand dynamics and home prices. Months of Inventory or Absorption Rate A measure of how balanced the market is between buyers and sellers. It is expressed as the number of months it would hypothetically take to sell through all the available homes for sale, given current levels of home sales. A balanced market ranges from 20 to 30 months of supply. A buyer’s market has a higher number, reflecting fewer buyers relative to homes for sale. A seller’s market has a lower number, reflecting more buyers relative to homes for sale.
Listing & Absorption rates are useful in determining your timing to buy or sell property. The above graph illustrates the listing & absorption rates for Single Family Homes in the Winter Park Area (Winter Park, Fraser, Tabernash). You can find more graphs on our website for condos & vacant land in the Winter Park Area, as well as Granby and Grand Lake. If you need help understanding this data and what it means to you, please call our office at 970.726.2600 and speak to one of our agents. Go to http://rewinterpark.com/market-stats/ for more detailed statistics. 3
Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
WINTER PARK SINGLE FAMILY/TOWNHOME/DUPLEX 400
$900,000
350
$800,000
300
$700,000 $600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
2015
Average Days on Market
Average Sales Price
WINTER PARK CONDOS 550
$900,000
500
$800,000
450
$700,000
400
$600,000
350
$500,000
300 250
$400,000
200
$300,000
150
$200,000
100
$100,000
50 0
2009
2010
2011
2012
2013
2014
2015
0
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
4
FRASER SINGLE FAMILY/TOWNHOME/DUPLEX 450
$900,000
400
$800,000
350
$700,000
300
$600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
2015
Average Days on Market
Average Sales Price
FRASER CONDOS $900,000
450
$800,000
400
$700,000
350
$600,000
300 250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
2013
2014
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. 5
Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
2015
0
TABERNASH SINGLE FAMILY/TOWNHOME/DUPLEX 450
$900,000
400
$800,000
350
$700,000
300
$600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
Active Listings
2010
2011
2012
Number of Sales
2013
2014
2015
Average Days on Market
Average Sales Price
At Real Estate of Winter Park there is no such thing as “too many cooks in the kitchen.” Before the REWP doors opened in 2008, the owners unanimously agreed that their real estate company would be different than the traditional office. They wanted more focus on their clients’ buying and selling experience. What is better than one experienced Realtor working for you? A whole team of them providing back-up support, experience and collaborative marketing.
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
6
GRANBY SINGLE FAMILY/TOWNHOME/DUPLEX 450
$800,000
400
$700,000
350
$600,000
300
$500,000
250
$400,000
200 150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
0
2015
Average Days on Market
Average Sales Price
GRANBY CONDOS 450
$900,000
400
$800,000
350
$700,000
300
$600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
2013
2014
2015
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. 7
Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
0
GRAND LAKE SINGLE FAMILY/TOWNHOME/DUPLEX $900,000
350
$800,000
300
$700,000
250
$600,000
200
$500,000 $400,000
150
$300,000
100
$200,000
50 0
$100,000 2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
2015
Average Days on Market
0
Average Sales Price
GRAND LAKE CONDOS 550
$900,000
500
$800,000
450
$700,000
400
$600,000
350
$500,000
300 250
$400,000
200
$300,000
150
$200,000
100
$100,000
50 0
2009
2010
2011
2012
2013
2014
2015
0
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
8
WINTER PARK VACANT LAND 700
$700,000
600
$600,000
500
$500,000
400
$400,000
300
$300,000
200
$200,000
100
$100,000
0
2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
2015
Average Days on Market
Average Sales Price
FRASER VACANT LAND
700 $600,000
600
$500,000
500
$400,000
400 300
$300,000
200
$200,000
100 0
$100,000 2009
2010
2011
2012
2013
2014
2015
REAL ESTATE OF WINTER PARK
9
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
TABERNASH VACANT LAND 550 500
$1,000,000
450
$900,000
400
$800,000
350
$700,000
300
$600,000
250
$500,000
200
$400,000
150
$300,000
100
$200,000
50
$100,000
0
2009
2010
2011
2012
Number of Sales
Active Listings
2013
2014
2015
Average Days on Market
Average Sales Price
GRANBY VACANT LAND 600
$600,000
500
$500,000
400
$400,000
300
$300,000
200
$200,000
100
$100,000
0
2009
2010
2011
2012
2013
2014
2015
REAL ESTATE OF WINTER PARK
Go to http://rewinterpark.com/market-stats/ for more detailed statistics. Source of all data contained in this report is from the Grand County Board of Realtors, Multiple Listing Service. Information is deemed reliable but not guaranteed.
10
GRAND LAKE VACANT LAND 600
$600,000
500
$500,000
400
$400,000
300
$300,000
200
$200,000
100
$100,000
0
2009
2010
2011
Number of Sales
Active Listings
2012
2013
2014
2015
Average Days on Market
Average Sales Price
Some Numbers Matter More Than Others 375 27 11
4 3 1 11
0
Broker Associates
8
Broker/Owners
8
Years in Business
7 Sta
Non-proďŹ ts We Support
Day of the Week a Live Person Answers the Phone at Our Office
Members
Licensed Assistants
#1 in Sales
# of local real estate offices besides REWP that are independantly owned and work as a team
Our Realtors Total Combined Years of Experience in Real Estate
127
Iron Horse (Overall)
0 2
Lakota 1/4 Shares (Antlers)
GRANBY
TABERNASH
FRASER
60*
Timber Run
Trailhead Lodges
125** 327**
Pole Creek Valley
Winter Park Highlands
5
Innsbruck Val-Moritz
555**
0
Grand Elk (All Neighborhoods)
0
3 1
68
2
0
0
0
Granby Ranch (Single-Family & TH)
Base Camp One Condos (Granby Ranch)
120*
102**
Aspen Meadows
260**
Pole Creek Meadows
2
Fairways at Pole Creek
1 351**
0
The Timbers
Winter Park Ranch
1
Rendezvous Custom Homes
Waterside West
0
Rendezvous Townhomes 58
4
0
0
0
4
0***
0
0
0
0
0
1
0
2
Rendezvous Cabins
68
35
Snowblaze Studios
332
48
Snowblaze (2bed & 2bed + loft)
Pines at Meadow Ridge
32
Sawmill Station
Meadow Ridge
54
Red Quill
48*
30
Hi Country Haus
40*
330
Crestview
Grand Park
41
Beaver Village
Cozens Pointe
56 228
Bear Crossing
0
0
Lakota (Antler & Mtn Lodge Twnhm)
1
1
2
2
Lakota (Single-Family & Duplexes)
DOWNTOWN WINTER PARK
LAKOTA
230
Iron Horse Studio
202
Zephyr Mtn. Lodge
9
3
7
4
3
8
5
1
9
4
2
0
4
11
6
0
3
6****
6
3
1
2
0
0
1
1
0
3
3
5
0
2
0
1
7
6
Total # of # of Units Pending Active
Fraser Crossing/Founder's Pointe
WINTER PARK RESORT
General Area & Complex/Neighborhod
15.00
1.25
9.33
3.67
2.00
9.33
1.25
0.42
1.50
3.67
2.00
0.00
0.00
8.25
4.50
0.00
6.75
1.50
1.00
2.75
0.33
1.17
0.00
0.00
0.17
1.67
0.00
5.00
2.25
1.67
0.00
0.83
0.00
1.08
11.08
4.50
$486,806
$398,633
$533,129
$373,845
$232,300
$494,662
$553,580
$1,100,000
$1,281,156
$679,500
254750
0
$2,015,975
$464,359
$759,250
$0
$154,300
$530,333
$409,233
$475,600
$449,000
$97,950
$0
$0
$599,900
$187,500
$0
$212,300
$593,000
$136,200
$0
$1,719,500
$119,000
$310,000
$363,029
$296,470
Absorbtion Rate (# of Months of Average List Inventory) Price
As of 1/1/2016
28.34%
38.14%
9.00%
30.04%
36.07%
16.33%
13.47%
34.02%
24.87%
38.70%
n/a
n/a
100.00%
0.45%
11.38%
n/a
4.82%
-5.92%
8.12%
35.02%
46.72%
23.49%
n/a
n/a
32.91%
29.98%
n/a
24.44%
22.84%
15.93%
n/a
39.41%
8.82%
58.07%
12.05%
13.35%
% Change from 2015
155
432
215
341
231
270
203
144
199
130
185
0
62
398
304
0
160
121
197
352
108
222
0
0
288
24
0
85
25
176
0
476
25
311
74
221
Average Days on Market
19
9
20
4
10
9
7
5
2
15
12
5
2
9
15
1
31
11
6
17
7
5
4
2
1
24
3
16
6
6
8
2
3
5
17
10
# of Closed
$381,021
$353,944
$478,408
$345,125
$161,865
$408,500
$470,229
$761,800
$617,000
$468,628
$225,250
$238,380
$1,771,000
$485,798
$599,613
$185,000
$160,500
$595,291
$330,667
$386,153
$323,500
$85,300
209750
$354,000
$420,000
$146,273
$222,667
$190,525
$506,167
$142,667
$453,281
$1,402,500
$123,533
$146,120
$289,511
$347,540
8.44%
30.33%
-1.40%
24.22%
8.26%
-1.32%
-1.87%
4.73%
-56.00%
11.12%
-13.80%
7.40%
100.00%
4.84%
-12.21%
22.41%
8.50%
5.63%
-13.71%
19.97%
26.05%
n/a
n/a
-2.06%
n/a
10.24%
7.19%
15.80%
9.60%
19.74%
-6.12%
25.72%
12.17%
11.04%
-10.29%
26.09%
Average Sales % Change from 2014 Price
2015 Sales
2015 TWELVE-MONTH MARKET ANALYSIS BY NEIGHBORHOOD (RESIDENTIAL ONLY)
Grand County Overview
127
243
153
99
153
273
149
130
618
210
93
120
156
341
181
128
138
292
94
407
195
114
207
439
59
163
357
96
154
319
195
53
205
254
182
200
Average Days on Market
20
5
16
11
8
14
3
5
2
11
12
2
0
9
9
4
27
9
2
11
4
7
0
9
2
20
3
20
9
4
3
5
11
13
19
9
# of Closed
$348,850
$246,600
$485,123
$261,545
$148,500
$413,886
$479,000
$725,800
$962,500
$416,500
$256,325
$220,750
$0
$462,262
$672,833
$143,545
$146,859
$561,748
$376,000
$309,045
$239,225
$74,943
n/a
$361,278
$402,500
$131,288
$206,667
$160,415
$457,556
$114,500
$481,000
$1,041,800
$108,500
$129,985
$319,289
$256,877
9.09%
-12.73%
-0.38%
-13.90%
-16.39%
7.68%
0.57%
6.14%
-4.28%
18.45%
7.43%
-2.73%
n/a
7.20%
0.17%
7.93%
3.15%
0.77%
21.54%
5.64%
14.97%
n/a
n/a
1.35%
n/a
-7.65%
-4.03%
6.10%
1.13%
10.92%
5.54%
-18.66%
10.33%
20.22%
7.90%
16.26%
226
327
133
348
195
317
120
364
318
130
132
212
0
160
399
106
255
237
146
293
414
236
n/a
125
98
303
127
281
370
414
674
247
240
260
326
277
13
1
25
18
10
17
4
2
2
10
5
12
1
2
3
3
21
7
1
4
3
0
4
6
0
8
1
11
10
1
3
2
8
9
9
10
Average Average Sales % Change Days on # of from 2013 Market Closed Price
2014 Sales
$317,131
$278,000
$486,961
$297,893
$172,840
$382,112
$476,250
$681,250
$1,003,667
$339,665
$237,280
$226,775
$2,150,000
$429,000
$671,667
$132,167
$142,234
$557,442
$295,000
$291,600
$203,417
n/a
$199,750
$356,400
n/a
$141,325
$215,000
$150,636
$452,400
$102,000
$454,367
$1,236,250
$97,288
$103,701
$294,056
$215,100
Average Sales Price
188
160
183
641
239
272
305
120
206
256
153
209
52
388
238
128
228
320
42
109
206
n/a
218
419
n/a
250
217
233
110
116
288
299
293
296
273
315
Average Days on Market
2013 Sales
WINTER PARK, FRASER AND TABERNASH 2015 Single-Family / Duplex / Townhome Closings by Price Point *Does not include quarter share sales
Sales Volume
Number of Closings
3% 7% 4%
12%
5%
17% 15%
9%
10% 10%
5% 6%
15%
13%
18%
12%
20%
16%
Under $299,999 $300 - $399,999 $400 - $499,999
$500 - $599,999 $600 - $699,999 $700 - $799,999
$800 - $899,999 $900 - $999,999 $1M +
WINTER PARK, FRASER AND TABERNASH 2015 Condo Closings by Price Point *Does not include quarter share sales
Number of Closings
Sales Volume
Less than 1%
2% 2% 2%
2%
7%
2%
9%
5%
17%
10%
3%
5% 4%
9% 16%
11%
5%
21%
15%
20%
Under $99,999 $100 - $149,999 $150 - $199,999 13
5%
$200 - $249,999 $250 - $299,999 $300 - $349,999
$350 - $399,999 $400 - $449,999 $450 - $499,999
19% 6%
$500 - $549,999 $550 - $599,999 $600,000 +
OUR OWNERS OUR BROKER ASSOCIATES
Cliff Anderson
Peter Gach
Janene Johnson
Shanna Lalley
Mike Periolat
Katie Riemenschneider
Lisa Leclair Waldorf
Jean Wolter
Regis Dahl
Carrie Flynn
Dan Gile
Sylvia Hensley
Jennifer Hughes
Erin Jeziorski
Sue Seemann
Peggy Smith
Margaret Sonnek
Julie White
OUR STAFF
Not pictured: Brad Smith
Sarah Ryan
Operations Manager
Jordan Miller Support Staff
Karissa Gagnon Marketing Manager
Amanda Solomon
Licensed Assistant to Lisa Waldorf
Morgan Keeler
Licensed Assistant to Katie Riemenschneider
Patty Wagner
Broker Assistant to Shanna Lalley & Jean Wolter