The Slifer Report - 2013 Annual Review

T he Slifer R eport SUMMIT COUNT Y REAL ESTATE 2013 ANNUAL MARKET REVIEW

S U M M I T C O U N T Y R E A L E S TAT E . C O M

TA B L E O F C O N T E N T S Summit County Overview......................... 4 Breckenridge............................................. 6 Copper Mountain...................................... 8 Dillon....................................................... 10 Frisco....................................................... 12 Keystone.................................................. 14 Silverthorne............................................. 16 SSF Information and Office Listings........ 18

W

ith the Holiday Season and 2013 now behind us, it is time to look forward and I expect 2014 to be a good year for mountain real estate. In terms of the Summit County real estate market, I believe the sales activity generated last year will carry over and grow in 2014.

The residential sales volume last year totaled over $740,000,000 which is the highest since 2008. The number of overall residential transactions were also at 5 year high with just under 1,500 sales compared to 1,300 in 2012.

Although we are seeing sales volume and transactions rebound, overall pricing has remained relatively flat over the past few years. Today’s buyers are value conscious and smart sellers are pricing their homes to the market and taking advantage of this renewed buyer activity.

Luxury home sales over $1 million fared well in Summit County and totaled 131 as compared to 112 in 2012. The highest sale in Summit County was $3.4 million in The Highlands at Breckenridge and was listed by Slifer Smith & Frampton Real Estate.

In terms of vacant land in Summit County, sales velocity continues to languish and accounted for just over 100 sales in 2013 which was down from 113 in 2012.

Overall prices in most areas of our market seem to have hit the bottom. In our business it is always very difficult to predict the bottom of the market, however I do feel that prices will begin to moderately adjust upwards in 2014.

One important statistic I feel is a good indicator of where a market is headed is the overall inventory available for a potential buyer. Our current inventory levels for residential and vacant land continue to drop and is at a 5 year low of almost 1,213. In some communities, a limited amount of properties can present a challenge to prospective buyers. I do expect more listings to be introduced to the market as we approach the spring and summer months but do not foresee a large amount of “shadow inventory” to hit the market.

Here’s to a great 2014, we at Slifer Smith & Frampton look forward to working with you.

Best Regards,

Jeff Jeff Moore Managing Broker, Summit County Slifer Smith & Frampton Real Estate

S U M M I T C O U N T Y OV E R V I E W TRANSACTION VOLUME COMPARISON 3,000 2,908

2,888

2,500

2,459

NUMBER OF TRANSACTIONS

2,000 1,634

1,500 1,430

1,352

1,000

985

1,092

1,195

500

0

2005

2006

2007

2008

2009

2010

2011

2012

2013

SALES VOLUME COMPARISON $1,500

1,281.0

$

$1,200

1,313.2

$

1,126.3

$

$900 815.2

$

795.2

$

718.4

$

MILLIONS

$600

$

584.5

$

597.8

$

2009

2010

2011

594.1

$300

$0

2005

2006

2007

2008

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. Š2014 Slifer Smith & Frampton Real Estate

4

2013 SLIFER REPORT

S U M M I T C O U N T Y OV E R V I E W AVERAGE SALES PRICE HISTORY $700,000 $650,000 602,965

$

593,469

$

$600,000

547,456

$

$550,000

534,056

$

502,766

$

$500,000

497,153

$

$450,000

486,697

$

443,563

$

$400,000 387,335

$

$350,000 $300,000

2005

2006

2007

2008

2009

2010

2011

2012

2013

ACTIVE INVENTORY BY MONTH 3,000 2,800 2,582

2,600

2,490 2,218

2,200

2,072

2,000 1,800 1,600

1,747

1,813 1,707

1,657 1,487

1,400

1,348

1,200

1,217 M ay ‘1 Ju 3 l‘ Se 13 p N ‘13 ov D ‘1 ec 3 ‘1 3

3 ‘1 ar M

M ay ‘1 Ju 2 l‘ Se 12 p N ‘12 ov ‘ Ja 12 n ‘1 3

2 ‘1 ar M

M ay ‘1 Ju 1 l‘ Se 11 p N ‘11 ov ‘ Ja 11 n ‘1 2

1 ‘1 ar M

M ay ‘1 Ju 0 l‘ Se 10 p N ‘10 ov ‘ Ja 10 n ‘1 1

0 ‘1 ar M

M ay ‘0 Ju 9 l‘ Se 09 p N ‘09 ov ‘ Ja 09 n ‘1 0

9 ‘0 ar M

‘0 9

1,000

Ja n

NUMBER OF RESIDENTIAL & LAND PROPERTIES LISTED

2,400

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

5

BRECKENRIDGE SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$217,916,722 -24.2% $165,243,848 13.9% $188,174,387 25.3% $235,856,451 1.5% $239,480,646

209 -17.2% 173 31.2% 227 18.5% 269 8.9% 293

252 6.7% 269 -1.1% 266 -14.3% 228 -0.4% 227

$1,042,664 -8.4% $955,167 -13.2% $828,962 5.8% $876,790 -6.8% $817,340

$8,285,000 -52.3% $3,950,000 -17.1% $3,275,000 70.1% $5,570,130 -39.0% $3,400,000

LOW SALE MEDIAN SALE $172,000 16.3% $200,000 -15.1% $169,900 -11.7% $150,000 30.0% $195,000

$800,000 -3.1% $775,000 -9.7% $700,000 -3.6% $675,000 -2.2% $660,000

$1MILLION+ SALES 82 -30.5% 57 8.8% 62 12.9% 70 4.3% 73

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$75,967,525 76.5% $134,083,512 -11.8% $118,268,874 -6.7% $110,305,596 35.5% $149,433,128

151 50.3% 227 14.5% 260 4.6% 272 26.5% 344

233 44.2% 336 -11.3% 298 -6.4% 279 -25.1% 209

$503,096 17.4% $590,676 -23.0% $454,880 -10.8% $405,535 7.1% $434,399

$1,675,000 60.6% $2,690,000 -0.2% $2,685,000 -52.3% $1,280,000 50.8% $1,930,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$11,076,900 60.6% $17,785,085 -19.8% $14,262,750 83.1% $26,110,000 -1.9% $25,625,495

40 45.0% 58 -3.4% 56 25.0% 70 -2.9% 68

282 -3.9% 271 4.1% 282 51.4% 427 16.6% 498

$276,923 10.7% $306,639 -16.9% $254,692 46.5% $373,000 1.0% $376,846

$664,000 397.0% $3,300,000 -52.3% $1,575,000 61.9% $2,550,000 -7.8% $2,350,000

LOW SALE MEDIAN SALE $108,990 -38.5% $67,000 -73.1% $18,000 305.6% $73,000 50.7% $110,000

$410,000 3.7% $425,000 -13.7% $366,750 -4.6% $350,000 3.6% $362,500

$1MILLION+ SALES 12 150.0% 30 -60.0% 12 -58.3% 5 260.0% 18

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

LOW SALE MEDIAN SALE $40,000 -50.0% $20,000 -20.0% $16,000 -6.3% $15,000 -20.0% $12,000

$244,000 -37.6% $152,334 27.0% $193,450 -8.5% $177,000 29.9% $230,000

$1MILLION+ SALES 0 N/A 3 -33.3% 2 200.0% 6 -33.3% 4

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$823

$830

$877

$790

HIGH

$1,452

$1,353

$1,071

$1,124

LOW

$109

$151

$87

$88

LOW

$155

$131

$121

$126

AVERAGE

$294

$268

$283

$294

AVERAGE

$546

$403

$390

$416

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

6

2013 SLIFER REPORT

BRECKENRIDGE SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME

$250

$150

149.4

$

239.4

$

235.8

$

$200

134.0

$

$120

118.2

$

188.1

$

165.2

$

$150

$60 MILLIONS

MILLIONS

$100 $50 $0

2010

2011

2012

2013

$30 $0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME

50 2010

2011

2012

2013

227

150 100 50 0

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

2010

2011

2012

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE

$1,000,000

$700,000 $600,000

955,167

$

590,000

$

$500,000

$900,000

405,535

$

434,399

$

$300,000

828,962

$

$800,000

545,880

$

$400,000

876,790

$

$850,000

817,340

$

$750,000 $700,000

272

260

200

100

0

344

250

TRANSACTIONS

TRANSACTIONS

150

2013

300

227 173

2012

MULTI-FAMILY TRANSACTION VOLUME

293

200

2011

350

269

250

2010

MULTI-FAMILY TR ANSAC TION VOLUME

SINGLE-FAMILY TRANSACTION VOLUME 300

$950,000

110.3

$

$90

$200,000 $100,000

2010

2011

2012

2013

$0

2010

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

7

C O P P E R M O U N TA I N SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

LOW SALE MEDIAN SALE

$2,650,000 188.5% $7,645,000 -9.8% $6,899,000 -75.4% $1,700,000 114.7% $3,650,000

1 300.0% 4 -25.0% 3 -66.7% 1 100.0% 2

115 232.2% 382 -2.6% 372 -19.1% 301 207.6% 926

$2,650,000 -27.9% $1,911,250 20.3% $2,299,667 -26.1% $1,700,000 7.4% $1,825,000

$2,650,000 13.0% $2,995,000 -4.9% $2,849,000 -40.3% $1,700,000 11.8% $1,900,000

$2,650,000 -56.6% $1,150,000 56.5% $1,800,000 -5.6% $1,700,000 2.9% $1,750,000

LOW SALE MEDIAN SALE

$2,650,000 -34.0% $1,750,000 28.6% $2,250,000 -24.4% $1,700,000 7.4% $1,825,000

$1MILLION+ SALES 1 300.0% 4 -25.0% 3 -66.7% 1 100.0% 2

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$17,694,000 -38.5% $10,878,800 -7.1% $10,101,250 35.0% $13,634,360 34.5% $18,342,100

39 -25.6% 29 -3.4% 28 46.4% 41 26.8% 52

301 -28.2% 216 20.8% 261 38.7% 362 2.2% 370

$453,692 -17.3% $375,131 -3.8% $360,759 -7.8% $332,545 6.1% $352,733

$964,900 -14.5% $825,000 54.5% $1,275,000 -34.7% $832,000 35.2% $1,125,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

LOW SALE MEDIAN SALE

$0 N/A $0 N/A $1,100,000 68.2% $1,850,000 -7.5% $1,712,000

0 N/A 0 N/A 1 100.0% 2 0.0% 2

0 N/A 0 N/A 0 #DIV/0!

49 569.4% 328

$0 N/A $0 N/A $1,100,000 -15.9% $925,000 -7.5% $856,000

$0 N/A $0 N/A $1,100,000 9.1% $1,200,000 -24.0% $912,000

$0 N/A $0 N/A $1,100,000 -40.9% $650,000 23.1% $800,000

$233,500 -60.6% $92,000 -22.3% $71,500 81.7% $129,900 6.2% $138,000

$377,520 -9.9% $340,000 -2.2% $332,500 4.7% $348,000 -12.9% $303,000

$1MILLION+ SALES 0 n/a 0 n/a 1 -100.0% 0 200.0% 2

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

$0 N/A $0 N/A $1,100,000 -15.9% $925,000 -7.5% $856,000

$1MILLION+ SALES 0 N/A 0 N/A 1 0.0% 1 -100.0% 0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$574

$500

$491

$479

HIGH

$583

$472

$517

$555

LOW

$374

$475

$491

$350

LOW

$174

$221

$176

$170

AVERAGE

$452

$490

$491

$415

AVERAGE

$385

$368

$335

$359

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

8

2013 SLIFER REPORT

C O P P E R M O U N TA I N SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME

$8.0 $7.0

$20 7.645

$

18.34

$

6.899

$

$6.0

$15

$5.0

13.63

$

$4.0

$10 MILLIONS

MILLIONS

$2.0 1.700

$

$1.0 2010

2011

2012

2013

$5

$0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME

2010

2011

2012

2013

MULTI-FAMILY TR ANSAC TION VOLUME

SINGLE-FAMILY TRANSACTION VOLUME

MULTI-FAMILY TRANSACTION VOLUME

5

60 50

4

52

4 40

3

3

2

2

1

1

0

2010

2011

2012

2013

TRANSACTIONS

TRANSACTIONS

10.10

$

3.650

$

$3.0

$0

10.87

$

41

30

29

28

20 10 0

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

2010

2011

2012

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE

$2.5

$380,000 375,131

$

2.299

$

$2.0 1.911

$

1.825

$360,000

360,759

$

$

1.700

$

$1.5

352,733

$

$340,000 MILLIONS

$1.0

332,545

$

$320,000

$0.5 $0

2010

2011

2012

2013

$300,000

2010

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

9

D I L LO N SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$19,158,600 35.6% $25,978,050 0.9% $26,218,353 33.8% $35,074,040 7.2% $37,610,925

37 27.0% 47 12.8% 53 24.5% 66 6.1% 70

174 12.1% 195 -3.6% 188 -14.9% 160 -15.0% 136

$517,800 6.7% $552,724 -10.5% $494,686 7.4% $531,425 1.1% $537,299

$1,030,000 151.6% $2,591,000 -64.7% $915,000 61.2% $1,475,000 -11.9% $1,300,000

LOW SALE MEDIAN SALE $294,200 -9.9% $265,000 1.5% $269,000 -25.7% $200,000 11.0% $222,000

$399,000 15.9% $462,500 7.0% $495,000 -10.1% $445,000 -16.4% $372,000

$1MILLION+ SALES 1 100.0% 2 -100.0% 0 N/A 3 33.3% 4

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$14,401,925 -12.4% $12,622,910 26.0% $15,911,138 20.7% $19,197,450 20.8% $23,183,695

60 -1.7% 59 27.1% 75 16.0% 87 13.8% 99

157 15.3% 181 4.4% 189 -6.9% 176 -16.5% 147

$240,032 -10.9% $213,948 -0.8% $212,149 4.0% $220,660 6.1% $234,179

$955,000 -0.5% $950,000 -32.6% $640,000 7.4% $687,500 11.3% $765,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$193,000 443.7% $1,049,400 -45.9% $568,000 107.7% $1,179,900 -22.6% $913,450

1 500.0% 6 -33.3% 4 75.0% 7 0.0% 7

403 -63.0% 149 44.3% 215 57.7% 339 84.7% 626

$193,000 -9.4% $174,900 -18.8% $142,000 18.7% $168,557 -22.6% $130,493

$193,000 78.8% $345,000 -42.3% $199,000 63.3% $325,000 -48.9% $166,000

LOW SALE MEDIAN SALE $110,000 -10.0% $99,000 -34.5% $64,888 20.2% $78,000 1.3% $79,000

$1MILLION+ SALES

$192,200 -3.7% $185,000 16.2% $215,000 -16.7% $179,000 20.1% $215,000

0 N/A 0 N/A 0 N/A 0 N/A 0

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

LOW SALE MEDIAN SALE $193,000 -91.7% $16,000 618.8% $115,000 -16.5% $96,000 -14.6% $82,000

$1MILLION+ SALES

$193,000 -12.2% $169,450 -25.1% $127,000 -9.5% $114,900 22.7% $141,000

0 N/A 0 N/A 0 N/A 0 N/A 0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$438

$277

$422

$332

HIGH

$443

$432

$451

$408

LOW

$112

$75

$124

$101

LOW

$104

$111

$121

$122

AVERAGE

$220

$199

$213

$228

AVERAGE

$235

$219

$221

$236

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

10

2013 SLIFER REPORT

D I L LO N SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME $25

$40 37.61

$

$35 $30

23.18

$

35.07

$

$20 19.19

$

$25

25.97

26.21

$

$15

$

15.91

$

$20 MILLIONS

MILLIONS

$10 $5 $0

2010

2011

2012

2013

$5 $0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME SINGLE-FAMILY TRANSACTION VOLUME

2011

2013

MULTI-FAMILY TRANSACTION VOLUME

70

66

60 50

75

TRANSACTIONS

20 10 2010

87

60

30

0

99

80

53

47

40

2011

2012

2013

59

40 20 0

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

2010

2011

2012

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE

$575,000

$240,000 234,179

$

552,724

$

$230,000

$525,000

531,425

$

537,299

$

$220,000

220,660

$

$500,000 494,686

$

$210,000

$475,000 $450,000

2012

100

70

TRANSACTIONS

2010

MULTI-FAMILY TR ANSAC TION VOLUME

80

$550,000

12.62

$

$10

$15

2010

2011

2012

2013

213,948

$

$200,000

2010

212,149

$

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

11

FRISCO SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$23,413,400 -0.2% $23,371,731 17.3% $27,423,515 -9.6% $24,786,583 38.6% $34,354,711

33 -3.0% 32 34.4% 43 -16.3% 36 33.3% 48

263 -23.2% 202 1.5% 205 32.2% 271 -31.4% 186

$709,497 2.9% $730,367 -12.7% $637,756 8.0% $688,516 4.0% $715,723

$1,600,000 18.8% $1,900,000 -31.6% $1,300,000 -5.8% $1,225,000 17.1% $1,435,069

LOW SALE MEDIAN SALE $350,000 -43.0% $199,481 5.2% $209,900 29.5% $271,900 28.7% $350,000

$649,000 -15.3% $550,000 1.6% $559,000 12.4% $628,500 13.4% $713,000

$1MILLION+ SALES 3 133.3% 7 -57.1% 3 33.3% 4 0.0% 4

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$25,108,473 31.8% $33,104,305 9.9% $36,388,000 25.4% $45,631,143 -9.4% $41,357,603

65 29.2% 84 11.9% 94 29.8% 122 -8.2% 112

213 5.6% 225 6.7% 240 -7.9% 221 -26.2% 163

$386,284 2.0% $394,099 -1.8% $387,106 -3.4% $374,026 -1.3% $369,264

$800,000 10.3% $882,500 -0.3% $880,000 -4.5% $840,000 1.7% $854,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$1,020,000 92.8% $1,967,000 -17.2% $1,629,500 24.0% $2,020,000 -23.3% $1,549,000

3 100.0% 6 -16.7% 5 40.0% 7 -28.6% 5

710 -82.1% 127 165.4% 337 46.6% 494 -18.8% 401

$340,000 -3.6% $327,883 -0.6% $325,900 -11.5% $288,571 7.4% $309,800

$440,000 -3.4% $425,000 47.1% $625,000 -24.8% $470,000 -19.1% $380,000

LOW SALE MEDIAN SALE $149,080 -12.0% $131,250 -4.0% $126,000 -0.8% $125,000 4.0% $130,000

$1MILLION+ SALES

$355,000 -1.1% $351,250 -3.9% $337,500 6.4% $359,000 -2.8% $349,000

0 N/A 0 N/A 0 N/A 0 N/A 0

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

LOW SALE MEDIAN SALE $260,000 -6.9% $242,000 -8.3% $222,000 -25.7% $165,000 13.9% $188,000

$1MILLION+ SALES

$320,000 4.7% $335,000 -17.9% $275,000 1.8% $280,000 32.1% $370,000

0 N/A 0 N/A 0 N/A 0 N/A 0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$627

$701

$423

$833

HIGH

$428

$465

$449

$512

LOW

$184

$161

$148

$193

LOW

$68

$171

$166

$188

AVERAGE

$299

$283

$264

$319

AVERAGE

$309

$306

$294

$298

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

12

2013 SLIFER REPORT

FRISCO SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME $50

$35 34.35

$

$30 27.42

$25

24.78

23.37

36.38

33.10

$30

$15

$

$20

$10

MILLIONS

MILLIONS

41.35

$ $

$

$

$20

45.63

$

$40

$

$5 $0

2010

2011

2012

2013

$10 $0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME

2010

2011

2012

2013

MULTI-FAMILY TR ANSAC TION VOLUME

SINGLE-FAMILY TRANSACTION VOLUME

MULTI-FAMILY TRANSACTION VOLUME

50

150 48 43

40

36

32

20 10 0

2010

2011

2012

2013

60 30 0

2010

2011

2012

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE $400,000

$800,000

$390,000 730,367

$

715,723

394,099

$

387,106

$

$

688,516

$

$650,000

$380,000 374,026

$

$370,000

637,756

$

$575,000

$500,000

112

94

84

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

$725,000

122

90 TRANSACTIONS

TRANSACTIONS

30

120

369,264

$

$360,000

2010

2011

2012

2013

$350,000

2010

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

13

KE YSTONE SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$21,609,750 -44.5% $11,996,500 42.7% $17,124,250 68.3% $28,821,750 -26.4% $21,198,749

18 -11.1% 16 0.0% 16 87.5% 30 -26.7% 22

197 83.8% 362 -21.8% 283 52.3% 431 -38.5% 265

$1,200,542 -37.7% $747,906 43.1% $1,070,266 -10.2% $960,725 0.3% $963,580

$3,050,000 -47.5% $1,600,000 37.2% $2,195,000 18.5% $2,600,000 -26.9% $1,899,999

LOW SALE MEDIAN SALE $120,000 112.5% $255,000 21.6% $310,000 -6.5% $290,000 8.6% $315,000

$1,287,500 -41.6% $752,000 28.0% $962,500 -9.5% $871,500 14.2% $995,000

$1MILLION+ SALES 13 -84.6% 2 200.0% 6 83.3% 11 -9.1% 10

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$46,973,773 8.7% $51,077,524 -19.2% $41,259,975 40.4% $57,939,049 11.0% $64,299,000

119 15.1% 137 -12.4% 120 38.3% 166 18.1% 196

168 16.1% 195 15.4% 225 -4.4% 215 0.5% 216

$394,738 -5.6% $372,829 -7.8% $343,833 1.5% $349,030 -6.0% $328,056

$1,300,000 0.0% $1,300,000 7.7% $1,400,000 -21.4% $1,100,000 -4.6% $1,049,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$3,285,000 -94.2% $190,000 243.4% $652,500 251.9% $2,296,300 -43.6% $1,295,000

7 -71.4% 2 50.0% 3 233.3% 10 -30.0% 7

189 -88.9% 21 1738.1% 386 -21.2% 304 -49.7% 153

$469,286 -79.8% $95,000 128.9% $217,500 5.6% $229,630 -19.4% $185,000

$700,000 -85.7% $100,000 235.0% $335,000 11.9% $375,000 -12.0% $330,000

LOW SALE MEDIAN SALE $124,000 -11.3% $110,000 7.3% $118,000 -15.3% $100,000 -74.9% $25,100

$340,000 -5.0% $323,000 -13.3% $280,000 7.9% $302,000 -4.0% $290,000

$1MILLION+ SALES 2 -50.0% 1 0.0% 1 0.0% 1 0.0% 1

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

LOW SALE MEDIAN SALE $240,000 -62.5% $90,000 75.0% $157,500 -3.4% $152,100 -8.0% $140,000

$1MILLION+ SALES

$410,000 -76.8% $95,000 68.4% $160,000 30.8% $209,250 -24.7% $157,500

0 N/A 0 N/A 0 N/A 0 N/A 0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$445

$466

$468

$445

HIGH

$665

$595

$617

$621

LOW

$168

$167

$172

$186

LOW

$165

$166

$125

$126

AVERAGE

$300

$307

$281

$293

AVERAGE

$340

$312

$305

$303

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

14

2013 SLIFER REPORT

KE YSTONE SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME

$30

$80 28.82

$

$25

$70 64.29

$

$60 $20

21.19

$

17.12

$15 $10

11.99

$5 2010

2011

2012

2013

$20 $10 $0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME

2010

2011

SINGLE-FAMILY TRANSACTION VOLUME

2013

MULTI-FAMILY TRANSACTION VOLUME 200 196

30

30

166

150

25

137

22

15

16

TRANSACTIONS

20 16

10 5 0

2010

2011

2012

2013

120

100

50

0

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

2010

2011

2012

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE

$1,200,000

$380,000

$1,000,000

372,829

$

1,070,266

$

960,725

$

$800,000

963,580

$

747,906

$360,000

$

$600,000

2012

MULTI-FAMILY TR ANSAC TION VOLUME

35

TRANSACTIONS

41.25

$

$30

$

$0

51.07

$

$40 MILLIONS

MILLIONS

$50

$

57.93

$

349,030

$

$340,000

343,833

$

$400,000

328,056

$

$320,000 $200,000 $0

2010

2011

2012

2013

$300,000

2010

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

15

S I LV E R T H O R N E SINGLE-FAMILY/DUPLEX

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$63,646,248 9.8% $69,855,985 -21.9% $54,523,810 47.6% $80,484,984 3.1% $82,995,164

77 32.5% 102 -10.8% 91 37.4% 125 0.0% 125

269 4.8% 282 1.1% 285 -10.5% 255 -26.3% 188

$826,575 -17.1% $684,863 -12.5% $599,163 7.5% $643,880 3.1% $663,961

$3,100,000 -29.0% $2,200,000 -20.5% $1,750,000 29.1% $2,260,000 17.3% $2,650,000

LOW SALE MEDIAN SALE $278,000 -17.3% $230,000 -30.4% $160,000 -5.0% $152,000 -40.8% $90,000

$650,000 -9.1% $591,000 -16.2% $495,000 14.1% $565,000 9.7% $620,000

$1MILLION+ SALES 20 -25.0% 15 -20.0% 12 33.3% 16 6.3% 17

CONDOMINIUM / TOWNHOME

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$32,736,108 -22.9% $25,243,542 10.2% $27,825,690 -3.2% $26,938,119 68.5% $45,392,567

106 -14.2% 91 13.2% 103 -3.9% 99 68.7% 167

175 2.9% 180 -3.9% 173 6.9% 185 -18.4% 151

$308,831 -10.2% $277,402 -2.6% $270,152 0.7% $272,102 -0.1% $271,812

$595,000 -10.1% $535,000 2.4% $547,820 0.4% $550,000 7.3% $590,000

SALES VOLUME

NO. OF SALES

AVE. DAYS ON MARKET

AVE. SALE

HIGH SALE

$6,554,480 -33.2% $4,376,500 31.7% $5,763,254 -13.6% $4,979,230 -42.4% $2,869,400

17 -11.8% 15 -20.0% 12 58.3% 19 -21.1% 15

276 92.4% 531 0.9% 536 -22.4% 416 43.8% 598

$385,558 -24.3% $291,767 64.6% $480,271 -45.4% $262,065 -27.0% $191,293

$1,400,000 -41.1% $825,000 380.4% $3,963,555 -80.4% $775,000 -65.8% $265,000

LOW SALE MEDIAN SALE $110,000 4.5% $115,000 -23.9% $87,500 -4.0% $84,000 4.8% $88,000

$1MILLION+ SALES

$280,000 -8.9% $255,000 -3.9% $245,000 2.0% $250,000 -2.0% $245,000

0 N/A 0 N/A 0 N/A 0 N/A 0

HOMESITES

2009 % CHANGE 2010 % CHANGE 2011 % CHANGE 2012 % CHANGE 2013

LOW SALE MEDIAN SALE $190,000 -52.6% $90,000 -38.9% $55,000 134.5% $129,000 4.6% $134,900

$347,000 -20.7% $275,000 -40.4% $164,000 50.7% $247,200 -24.8% $186,000

$1MILLION+ SALES 1 -100.0% 0 N/A 1 -100.0% 0 N/A 0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX

CONDOMINIUM/TOWNHOME

2010

2011

2012

2013

2010

2011

2012

2013

HIGH

$416

$481

$672

$568

HIGH

$333

$337

$325

$331

LOW

$114

$95

$113

$85

LOW

$165

$120

$143

$120

AVERAGE

$249

$231

$232

$256

AVERAGE

$242

$226

$226

$227

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

16

2013 SLIFER REPORT

S I LV E R T H O R N E SINGLE-FAMILY/DUPLEX SALES VOLUME

MULTI-FAMILY SALES VOLUME

SINGLE-FAMILY SALES VOLUME

MULTI-FAMILY SALES VOLUME

$100

$50 45.39

$

$80

$40

82.99

$

80.48

$

69.85

$

$60

$30 54.52

$

$20 MILLIONS

MILLIONS

$40 $20 $0

2010

2011

2012

2013

26.93

$

$10 $0

SINGLE-FAMILY/DUPLEX TR ANSAC TION VOLUME

2010

2011

2012

2013

MULTI-FAMILY TR ANSAC TION VOLUME

SINGLE-FAMILY TRANSACTION VOLUME

MULTI-FAMILY TRANSACTION VOLUME

150

200

120

125

125

167

150

102

90

91 TRANSACTIONS

TRANSACTIONS

27.82

$

25.24

$

60 30 0

2010

2011

2012

2013

100 91

103

99

2011

2012

50

0

SINGLE-FAMILY/DUPLEX AVER AGE SALES PRICE

2010

2013

MULTI-FAMILY AVER AGE SALES PRICE

SINGLE-FAMILY AVERAGE SALES PRICE

MULTI-FAMILY AVERAGE SALES PRICE

$750,000

$380,000 372,829

$

$700,000

$360,000

684,863

$

$650,000

663,961

$

643,880

$

$600,000

343,833

$

599,163

$

328,056

$

$320,000

$550,000 $500,000

349,030

$

$340,000

2010

2011

2012

2013

$300,000

2010

2011

2012

2013

Source of all data contained in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2014 Slifer Smith & Frampton Real Estate

2013 SLIFER REPORT

17

THE MOST TRUSTED NAME IN COLOR ADO MOUNTAIN RE AL ESTATE FOR 50 YE ARS

SSF ANNUAL CLOSED SALES VOLUME $300

$250

$200

$150

MILLIONS

$100

$50

$0

2009

2010

2011

2012

2013

Today’s real estate market can be extremely complicated. Now more than ever its important that you work with the market experts. Slifer Smith & Frampton Real Estate has a 50-year perspective in Colorado mountain real estate, over 30 brokers in Summit County and has negotiated an average of over $200 million in transactions each of the past five years.

S U M M I T C O U N T Y R E A L E S TAT E . C O M

18

2013 SLIFER REPORT

SLIFER SMITH & FR AMP TON RE AL ESTATE OFFICES FOR FURTHER REAL ESTATE MARKET INFORMATION PLEASE VISIT US AT THE FOLLOWING LOCATIONS THROUGHOUT SUMMIT COUNTY:

BRECKENRIDGE 117 SOUTH MAIN STREET P.O. Box 959 Breckenridge, CO 80424 Phone: (970)453-9090 Toll-free: (888)531-2800 211 NORTH MAIN STREET P.O. Box 8740 Breckenridge, CO 80424 Phone: (970)547-6000 Toll-free: (877)333-8850

FRISCO 916 NORTH SUMMIT BOULEVARD P.O. Box 2314 Frisco, CO 80443 Phone: (970)668-1550

KEYSTONE KEYSTONE RESORT 0140 Ida Belle Drive F-12 P.O. Box 38-K61 Keystone, CO 80435 Phone: (970)496-4522 Toll-free: (800)548-3307

2013 SLIFER REPORT

19

ONE WEBSITE...

EVERY PROPERT Y IN SUMMIT COUNT Y

Summit CountyR eal E state.com