T HE SLIFER R EPORT SUMMIT COUNT Y REAL ESTATE 2017 SIX-MONTH MARKET REVIEW
S UM M I T C OUN TYREALESTATE.COM
TA B L E O F C O N T E N T S Introduction............................................................3 SSF Summit County Offices....................................4 Overall Market Share..............................................5 Summit County Overview....................................6-7 The Luxury Market...............................................8-9 Land Overview...................................................... 10 Sales Volume by Area........................................... 11
>>> Breckenridge......................................................... 12 Copper Mountain................................................. 13 Dillon..................................................................... 14 Frisco..................................................................... 15 Keystone............................................................... 16 Silverthorne........................................................... 17
T
he Summit County real estate market is healthy and continues to follow a trajectory of growth in 2017. From January to June, there were 820 residential closings totaling $582 million in sales volume. This represents a 13% increase in transactions and a 35% climb in sales volume compared to last year.
With demand remaining steady and inventory still low in most segments of the market, we expect to experience similar upward momentum in the second half of the year. The luxury segment of the market is showing strength with 146 sales over $1,000,000 year-to-date, which has nearly doubled the pace of 2016 sales. For the third year in a row, Slifer Smith & Frampton Real Estate has the most overall market share of any real estate company in Summit County, outpacing our closest competitor by over $100 million in sales volume. Our team of 45 full-time brokers also leads in the luxury home market with 24% of the total market counting both list and sell sides. We are proud of these achievements, as they are a result of helping our clients successfully fulďŹ ll their dreams of ownership in the Colorado high county. We hope you enjoy reviewing this comprehensive real estate market report and that it will prove to be of value, especially if you are considering buying or selling over the coming year. Please contact your Slifer Smith & Frampton Real Estate broker for more information or stop by one of our four convenient ofďŹ ce locations in Summit County. Thank you for looking to Slifer Smith & Frampton Real Estate for your real estate needs.
Best Regards,
John P feiffer John Pfeiffer President & Managing Broker Slifer Smith & Frampton Real Estate
*
*
Data gathered from the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed.
Data gathered from the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed.
Cover photo courtesy of Jeff Andrew | Vail Resorts
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: To Kremmling
9
BRECKENRIDGE 117 SOUTH MAIN STREET P.O. Box 959 Breckenridge, CO 80424 Phone: (970)453-9090
G
O
211 NORTH MAIN STREET P.O. Box 8740 Breckenridge, CO 80424 Phone: (970)547-6000
RE
RA
N
G
9
E To Denver
70
Arapahoe Basin
Silverthorne
FRISCO - SILVERTHORNE 400 MAIN STREET, FRISCO P.O. Box 2314 Frisco, CO 80443 Phone: (970)668-1550
6
Keystone Montezuma
Frisco To Vail & Grand Junction
9
Breckenridge
T E N M IL E RANG E
70
Copper Mountain
DILLON - KEYSTONE KEYSTONE RESORT, RIVER RUN VILLAGE 0140 Ida Belle Drive F-12 P.O. Box 38-K61 Keystone, CO 80435 Phone: (970)496-4522
91
Blue River 9
To Leadville To Fairplay
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 4
S U M M I T C O U N T Y OV E R A L L M A R K E T S H A R E
$267
M
$250.0
$200.0
$163M
$150.0
$86M
$54M
$52M
$50.0
$40M
X A /M RE
EB LI Y’ V S
SSF
A
SO TH
O BR C E IA C TE K S SS
CO L BA DW N EL KE L R
PA TH FFR O AT M H A S &
W
SU CO M LO M IT R A CO D O UN R TY E
$12.4M
K IL EL LI LE AM R S
MILLIONS
$100.0
$0.0
$108M
$103M
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 5
S U M M I T C O U N T Y OV E R V I E W RESIDENTIAL TRANSACTION VOLUME COMPARISON 800
820
700
694
727
NUMBER OF TRANSACTIONS
600 500
576
580
2013
2014
505
400
427
400
300 200 100 0
2010
2011
2012
2015
2016
2017
RESIDENTIAL SALES VOLUME COMPARISON $600.0 581.9
$
431.1
$
$400.0 382.1
$
307.4
$
289.8
$
264.4
$
244.8
$
MILLIONS
$200.0
$0.0
2010
233.9
$
2011
2012
2013
2014
2015
2016
2017
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 6
S U M M I T C O U N T Y OV E R V I E W RESIDENTIAL AVERAGE SALES PRICE HISTORY $750,000 718,214
$
$700,000
$650,000 603,743
$
590,367
$
$600,000
554,555
$
540,313
$
542,657
$
$550,000
527,718
$
510,468
$
$500,000
2010
2011
2012
2013
2014
2015
2016
2017
ACTIVE INVENTORY BY MONTH 3000 2,452
2500 2,218
2000 1,683
1,679
1,837 1,657
1500
1,517
1,269
1,348 1,213
1000
951 1,001
838
‘1 7 Ja n
Ju l‘ 16
‘1 6 Ja n
Ju l‘ 15
‘1 5 Ja n
Ju l‘ 14
‘1 4 Ja n
Ju l‘ 13
‘1 3 Ja n
Ju l‘ 12
‘1 2 Ja n
Ju l‘ 11
‘1 1 Ja n
Ju l‘ 10
‘1 0
500
Ju l‘ 17
551
712 Ja n
NUMBER OF RESIDENTIAL & LAND PROPERTIES LISTED
1,963
*Inventory data taken on the 1st of the month and includes residential and land properties only. 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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 7
TRANSACTION VOLUME COMPARISON$1M+ RESIDENTIAL SALES YEAR TO DATE (JANUARY-JUNE) NUMBER OF TRANSACTIONS
150 145
100 77
73
50
60 46
0
2010
2011
52
58
40
2012
2013
2014
2015
2016
2017
SALES VOLUME COMPARISON$1M+ RESIDENTIAL SALES YEAR TO DATE (JANUARY-JUNE) $300.0
$244.5M
MILLIONS
$200.0
$100.0 $92M
$0.0
2010
$71.9M
2011
$61.7M
2012
$79.3M
2013
$124.3M
$132.5M
2015
2016
$89.7M
2014
2017
SUMMITCOUNTYLUXURYCOLLECTION.COM 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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 8
SUMMIT COUNT Y LUXURY MARKET SHARE $125
M
$100.0
$80.0
$65M
$62M
$60.0
$55M $46M
$40.0
$22M
$20.0 $13M
A
S EB Y’ SO TH V
SSF
LI
SS
O BR C E IA C TE K S
X A /M RE
CO L BA DW N EL KE L R
&
PA TH FFR O AT M H A S
$12.4M
SU CO M LO M IT R A CO D O UN R TY E
$0.0
C RE AR A L BO ES NA TA TE TE
MILLIONS
$30M
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 9
SUMMIT COUNT Y L AND OVERVIEW TRANSACTION VOLUME COMPARISON LAND SALES YEAR TO DATE (JANUARY-JUNE) 80 74 67
NUMBER OF TRANSACTIONS
60 53
50 45
45
40 38 32
20
0
2010
2011
2012
2013
2014
2015
2016
2017
SALES VOLUME COMPARISON LAND SALES YEAR TO DATE (JANUARY-JUNE) $40.0 36.1M
$
$30.0
22.9M
$
$20.0 18.4M
$
14.8M
$
MILLIONS
$10.0
$0.0
12.1M
$
2010
2011
13.7M
$
2012
17.4M
$
13.5M
$
2013
2014
2015
2016
2017
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 10
SALES VOLUME BY AREA
RESIDENTIAL AND L AND (JANUARY-JUNE) BRECKENRIDGE
DILLON
$400.0
$40.0 $ $
$0.0
$
235
2015
$
$
2016
2017
KEYSTONE
$0.0
2015
2016
83.4
2017
$
50.8
2015
$
48.5
2016
2017
FRISCO
$
$0.0
13
2015
$
14.4
2016
2017
SILVERTHORNE
$60.0
$100.0 $ $
46.5
$
44.8
$
45.5
$
72.4
$
77.4
87.1
$50.0
MILLIONS
$30.0
MILLIONS
33.4
$20.0 $
MILLIONS
$50.0
$0.0
35.5
31.1
$40.0 $
MILLIONS
$
COPPER
$100.0
$0.0
37.4
$20.0
228.6
MILLIONS
MILLIONS
$200.0
319.9
2015
2016
2017
$0.0
2015
2016
2017
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 11
BRECKENRIDGE
29.4%
S I N G L E - FA M I LY/ D U P L E X
INCREASE IN HOMES SOLD (2016-2017)
55.9%
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$109,766,196
130
269
$620,000
2014
$113,181,843
119
211
$765,000
2015
$126,978,276
120
250
$757,250
2016
$141,689,983
126
190
$832,500
2017
$214,355,945
163
124
$1,056,500
CONDOMINIUM/ TOWNHOME
LESS TIME SPENT ON THE MARKET (COMPARED TO 2016 AVERAGE)
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$57,956,099
130
212
$403,000
2014
$66,209,906
140
222
2015
$78,092,030
148
174
$425,090
2016
$74,937,999
150
118
$396,450
2017
$85,690,572
152
52
$436,000
$409,950
90.84%
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
CONDOMINIUM/ TOWNHOME
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
$283
$317
$342
$353
$415 AVERAGE:
$425
$432
$463
$492
$595
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
97.01%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
98.11%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 12
COPPER S I N G L E - FA M I LY/ D U P L E X SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$1,750,000
1
1116
$1,750,000
2014
$0
0
n/a
n/a
2015
$0
0
n/a
n/a
2016
$0
0
n/a
n/a
2017
$10,850,000
5
333
$1,925,000
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$6,862,400
22
270
$280,000
2014
$11,253,750
30
307
$337,500
2015
$12,583,250
38
420
$312,500
2016
$14,417,500
39
226
$366,000
2017
$22,558,000
54
117
$367,000
100% ALL SINGLE FAMILY HOMES SOLD SO FAR IN 2017 WERE PRICED $1M+
CONDOMINIUM/ TOWNHOME
70% INCREASE IN # OF SALES (OVER THE 20132016 AVERAGE)
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
2013
2014
2015
2016
$479
n/a
n/a
n/a
CONDOMINIUM/ TOWNHOME
2017
2013
2014
2015
2016
2017
$568 AVERAGE:
$350
$387
$338
$394
$453
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
94.78%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
96.99%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 13
DILLON
44.8%
S I N G L E - FA M I LY/ D U P L E X
GROWTH IN MEDIAN SALES PRICE SINCE 2013
63.3%
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$13,858,100
28
178
$437,500
2014
$10,024,050
17
177
$500,000
2015
$14,525,300
25
227
$529,000
2016
$19,360,177
29
94
$640,000
2017
$19,846,141
28
31
$633,614
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$9,782,050
44
169
$211,250
2014
$8,787,200
37
134
2015
$16,133,861
61
123
$249,000
2016
$17,014,825
60
33
$227,000
2017
$14,362,930
54
8
$228,760
CONDOMINIUM/ TOWNHOME
LESS TIME SPENT ON THE MARKET (COMPARED TO 20132016 AVERAGE)
$202,000
90.84%
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
CONDOMINIUM/ TOWNHOME
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
$215
$228
$226
$268
$297 AVERAGE:
$227
$233
$257
$298
$331
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
97.51%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
98.92%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 14
FRISCO
14%
S I N G L E - FA M I LY/ D U P L E X SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$8,753,884
13
174
$580,000
2014
$12,772,697
19
211
$680,000
2015
$22,536,375
29
114
$710,000
2016
$16,736,664
21
89
$811,000
2017
$15,236,500
15
55
$840,000
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$14,911,998
41
193
$425,000
2014
$15,726,499
36
183
$405,500
2015
$22,713,280
56
167
$361,500
2016
$26,401,545
55
47
$439,000
2017
$29,488,300
55
38
$515,000
INCREASE IN AVERAGE PRICE PER SQUARE FOOT (2016-2017)
CONDOMINIUM/ TOWNHOME
17.3% INCREASE IN MEDIAN SALES PRICE (2016-2017)
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
CONDOMINIUM/ TOWNHOME
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
$269
$298
$362
$356
$406 AVERAGE:
$281
$342
$323
$400
$431
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
97.45%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
98.29%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 15
KEYSTONE
9.2%
S I N G L E - FA M I LY/ D U P L E X
CHANGE IN AVERAGE PRICE PER SQUARE FOOT
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$5,888,750
6
310
$1,039,375
2014
$5,224,500
6
502
$766,500
2015
$12,912,500
11
329
$975,000
2016
$13,024,800
11
140
$975,000
2017
$15,476,500
11
254
$1,189,000
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2012
$21,864,000
57
207
$330,000
2013
$25,189,400
71
261
2014
$29,556,750
88
251
$298,500
2015
$34,120,449
102
211
$285,100
2017
$67,599,300
136
40
$424,500
(2016-2017)
33.3%
CONDOMINIUM/ TOWNHOME
INCREASE IN NUMBER OF SALES (2016-2017)
$312,000
90.84%
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
CONDOMINIUM/ TOWNHOME
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
$251
$280
$293
$315
$344 AVERAGE:
$310
$306
$327
$351
$436
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
94.98%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
98.32%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 16
SILVERTHORNE
14%
S I N G L E - FA M I LY/ D U P L E X SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$27,501,015
42
220
$626,200
2014
$29,236,200
45
214
$562,500
INCREASE IN HOMES SOLD
2015
$39,261,005
62
233
$581,500
(COMPARED TO 20132016 AVERAGE)
2016
$50,053,303
62
81
$681,250
2017
$53,915,065
60
114
$788,000
SALES VOLUME
NO. OF SALES
AVER AGE DAYS ON MARKET
MEDIAN SALE
2013
$14,905,099
47
219
$234,000
2014
$19,663,850
70
148
$250,250
2015
$29,630,067
92
106
$306,500
2016
$21,702,204
71
30
$290,000
2017
$30,629,580
81
32
$332,000
CONDOMINIUM/ TOWNHOME
74.6% LESS TIME SPENT ON THE MARKET (COMPARED TO 20132016 AVERAGE)
P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:
CONDOMINIUM/ TOWNHOME
2013
2014
2015
2016
2017
2013
2014
2015
2016
2017
$247
$254
$269
$301
$321 AVERAGE:
$220
$238
$252
$289
$344
SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:
CONDOMINIUM/ TOWNHOME
96.68%
AVERAGE OF SALE PRICE/LAST LISTED PRICE:
98.95%
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. ©2017 Slifer Smith & Frampton Real Estate
2017 S I X M O N T H SL I FE R R E P O R T 17
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