Slifer Smith & Fr ampton Re al Estate
winter 2014
I NSI DE EDGE
In this issue >>
Real Estate Market Update Market Watch
3-4
Market Trends
5
Happenings Around Summit County Development Update Calendar of Events
summitcount yRealEstate.com Carl Scofield
News from the most trusted name in Colorado mountain real estate since 1962
2
6-8 9 10 - 11
Real Estate Market Update The Summit County economy and real estate market continues to see dramatic improvement. To keep up with the increasing demand, we are excited to announce that we have expanded and opened two new real estate offices. In addition, we have added nine brokers to our team to ensure that we provide exceptional service to both Summit and Park County. With continued activity, new construction is charging forward with high buyer confidence. According to The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index, “The HMI* is up 11 points since December of 2012 and has been above 50 for the past seven months. This indicates that an increasing number of builders have a positive view on where the industry is going.� The Summit County real estate market has benefited from this increased confidence, including our highly prized, new construction developments. Frey Gulch, started in 2012, is now near completion with only 3 of 8 properties remaining. The Shores at Breckenridge has also gained tremendous momentum in the past 6 months with sales of all of the completed properties and has two more residences close to completion within the next 45 days. The Summit County luxury market has also seen a heightened activity level. Since 2012, Slifer Smith & Frampton Real Estate have accounted for 25% of the total luxury market sales volume, totaling more than $162 million. For an in-depth analysis of both the luxury market as well as the overall 2013 market, we encourage you to review our annual Slifer Report, due out in February. *HMI: The Housing Market Index (HMI) is a weighted average based on a monthly survey of NAHB-Wells Fargo members designed to gain insight on the single-family housing market.
2 | I NSI DE ED GE
Market Watch
Want to know how summit county real estate market performed last year?
Find out in our annual, in-depth market report on Summit County real estate. The 2013 Slifer Report will be available February 2014 at SummitCountyRealEstate.com.
SUMMIT COUNTY AVERAGE residential sales price by year $700,000 $650,000 $600,000 $550,000 $500,000 $450,000 $400,000 $350,000 $300,000 $250,000 $200,000
SUMMIT COUNTY sold residential properties by month
250 200 150 100 50
Inventory data for all years is taken from January 1 - December 31, residential and land sales only. Data provided by the Summit County MLS. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Real Estate Broker for more information.
w i n t e r 2014 | 3
Market Watch SUMMIT COUNTY Activer inventory - december
2500 2250 2000 1750 1500 1250 1000
SUMMIT COUNTY Activer inventory by month 3,000 2,500 2,000 1,500 1,000 500
4
|
I NSID E ED GE
Inventory data for all years is taken from November 1, residential and land sales only. Data provided by the Summit County MLS. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Real Estate Broker for more information.
market trends & quick fac ts • Most expensive single-family home to sell in Summit County in the past 12 months sold for $3,400,000 on April 24th, 2013. • Most expensive condominium to sell in Summit County in the past 12 months sold for $1,930,000 on December 12th, 2013. • Currently there are 42 single-family homes under contract in Summit County. • Currently there are 79 condominiums under contract in Summit County. • In the past 12 months, 103 single-family homes have sold for over $1,000,000 with an average sales price of $1,511,228 and a total volume of $155,656,528. • 6.9% of properties sold in the past 12 months have been priced over $1,000,000. • 1,484 residential properties have sold in Summit County in the past 12 months. • Average Sales Price Per Square Foot:
• Condominium: $339
• Duplex: $269
• Single-Family: $282
• Townhome: $281
• There are 126 single-family homes active in the $500,000 - $1,000,000 price range. • There are 13 single-family homes pending in the $500,000 - $1,000,000 price range. • There are 142 single-family homes active in the $1,000,000+ price range. • There are 17 single-family homes pending in the $1,000,000+ price range. *Data is from January 1st – December 18th, 2013. Data provided by Summit County MLS. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information.
w i n t e r 2014 | 5
Happenings Around Summit County Ski Area Improvements
6
|
Breckenridge Ski Resort Peak 6 Expansion
Keystone Resort Family Ski Trail
Brand new this season is Breckenridge’s expansion to Peak 6. Adding an extensive 543 acres to the ski resort, there is a bit of everything. Including 3 new bowls, 10 trails, 1 four-person fixed grip access lift from Peak 7, and a six-person high-speed lift dropping skiers off above treeline. With 400 lift accessed and 143 hike-to acres, this is the largest resort expansion in the last 10 years. To include everyone in the excitement, Breckenridge hosted a trail naming contest on their Facebook page. Over 1,800 people submitted names from all over the county. 25 lucky winners, with names such as Lost Horizon and Xanadu, were unveiled on the new trail map for the 2013-14 season. The expansion offers amazing new terrain of varying skill levels as well as amazing views unable to be seen from any other location on the resort.
To enhance Keystone’s ever-growing kidfocused entertainment, in the 2013-14 season, The SchoolYard debuts on Keystone’s signature green run Schoolmarm. A unique, family-only ski trail has been designed to introduce little skiers and shredders to more advanced terrain and snow features. Rockin’ Rollers, Magic Moguls, and Tornado Ally are just a few of the progression-based features that entice the entire family to take their riding to the next level.
I NSID E ED GE
Copper Mountain Sherpa Smartphone App
Copper Mountain High Alpine Project, The 12’s
Copper Mountain takes the standard skiingrelated app one step further with their brand new, on-mountain audio intelligence smartphone app. Launching on Opening Day, the hands-free, GPS navigated app serves as your own personal mountain guide pointing you in the direction of fresh powder stashes, groomed runs, and expert local advice.
The 12’s: In the debut season of this multi-year project, Copper Mountain replaced the old Storm King Lift with a new T-bar, doubling the up-hill capacity and improving the access to some of the best terrain on the resort. Also, new this year is the surface lift, aptly named Celebrity Ridge, which provides easier access to Union Peak, Union Meadows, West Ridge, and Copper Bowl. Combined with other re-grading and ski-out enhancements, Copper Mountain now has the ability to open earlier and stay open longer. Phase II will include adding more acreage and turning Tucker Mountain into lift-served terrain. w i n t e r 2014 | 7
End of Season Celebrations Breckenridge Ski Resort Breckenridge Spring Beer Festival: April 5th Held in downtown Breck, over 30 breweries showcase their specialty, craft beers and local vendors fill the weekend with delicious food. Spring Fever: April 12th, 13th, 19th, and 20th Say goodbye to the 52nd season with one of the best parties of the season on Peak 8 complete with the Bud Light Concert Series, DJs, and drink specials.
Copper Mountain Sunsation: April 12th – 13th Copper Mountain takes sun to a whole new level with free live music, Red Bull Slope Soakers, and the world-famous Eenie Weenie Bikini Contest. Color Run: April 19th Copper Mountain is taken over by the ‘Happiest 5k on the Planet’, where hundreds of participants are covered from head to toe in different colors at each kilometer check-point during this un-timed race.
Keystone Resort Closing Weekend: April 19th – 20th A weekend full of live music, festivities, and the infamous Slush Cup.
Arapahoe Basin Shakin’ at the Basin Concert Series: Every Saturday in May Spend your May Saturday afternoons taking a few turns, drinking a few beverages and listening to amazing, live music from 1-4PM. 8
|
I NSID E ED GE
Summit County Development Update Angler Mountain Ranch
frey gulch
The Shores at Breckenridge
The 192-acre neighborhood has seven custom homes currently under construction in addition to eight new paired homes being built in various stages along Angler Mountain Lake. Construction of the first cabin in Phase 3 will begin in January as the start of fifteen new houses along Stonefly Drive. The road connection into Hamilton Creek is open to traffic so an incredible bicycle loop with great climbs and exhilarating downhills now combines the two communities. Seven homesites with Silverthorne town services and prices starting at $249,000 offer southern and western view spectrums of the Gore Range. Ranch living is just two miles from Interstate 70 along with private fishing rights and an easy connection into the county-wide recreation path system.
Overlooking the Keystone River Course and Nordic Center you will be living the resort lifestyle year-round. This new construction opportunity in Keystone, Frey Gulch, consists of eight paired homes with sweeping mountain views and southern exposure. The properties feature in-floor radiant heat throughout, twocar heated garage, granite slab counters, knotty alder cabinets, stainless appliance, low HOA fees and more.
Beautiful new construction with fantastic pricing in The Shores at Breckenridge. These new residences offer 3 bedrooms, 3.5 baths and private two-car garage in a luxury riverside neighborhood that is the true crossroads to everything Summit County has to offer. This premier location includes exceptional fly fishing on the pristine waters of the Blue River, access to the award winning 27 hole Jack Nicklaus Breckenridge Golf Course, the Gold Run Nordic Center and direct access to some of the area’s best paved bike paths and single track trails.
Prices starting at: $249,000 availability: 7 homesites
Prices starting at: $485,000 availability: 4 duplexes remaining
Prices starting at: $885,000 availability: 2 homes currently available
w i n t e r 2014 | 9
Calendar of Events January
3-4.......... Holiday Ice Skating Show, Keystone Resort 3-5.......... Burton Mountain Festival, Copper Mountain 4-5.......... Holiday Ice Skating Show, Keystone Resort 5-11......... Ullr Fest, Town of Breckenridge 11............ Moonlight Dinner Series, A Night in France, Arapahoe Basin 18-19....... WinterBike, Copper Mountain 18-19....... NSAA Skier Safety Week, Arapahoe Basin 18-25...... Breck Safety Week, Breckenridge Ski Resort 21-26...... International Snow Sculpture Champs, Town of Breckenridge 28-31...... USSA NorAm Hole Shot, Copper Mountain
15............ Save our Snow Benefit, Arapahoe Basin 22........... Hope on the Slopes – American Cancer Society, Breckenridge Ski Resort 22........... Five Peaks Mountaineering Race, Breckenridge Ski Resort
12............ Moonlight Dinner Series,
A Night in Italy, Arapahoe Basin
12-13....... Sunsation, Copper Mountain 16............ 25th Annual Enduro,
Arapahoe Basin
19............ The Color Run, Copper Mountain 19-20...... Color Me Copper,
March
1............. Mardi Gras Ball, Town of Breckenridge 15............ Moonlight Dinner Series, A Night in the Pacific, Arapahoe Basin 17............ St. Patrick’s Big Mountain Comp, Breckenridge Ski Resort 26-9........ USASA Nationals, Copper Mountain 29........... Earth Hour Celebration, Arapahoe Basin
Copper Mountain
20........... Beach ‘N Egg Hunt,
Arapahoe Basin
20........... Easter Egg Hunt,
Breckenridge Ski Resort
20........... Closing Day,
Breckenridge Ski Resort
May 3-31........ Shakin’ at the Basin May Concert
February
8............. 12th Annual Beacon Bowl and Avalanche Awareness Day, Arapahoe Basin 14-17....... Copper Uncorked and in Love, Copper Mountain 15............ Moonlight Dinner Series, A Night in Spain, Arapahoe Basin 10
|
I NSID E ED GE
April
5............. Spring Beer Festival, Town of Breckenridge 10-16...... Mountain Travel Symposium, Town of Breckenridge and Breckenridge Ski Resort 12............ Imperial Challenge, Breckenridge Ski Resort
Series, Arapahoe Basin 25........... 13th Annual Festival of the Brewpups, Arapahoe Basin 31............ Shakin’ at the Basin May Convert
Series, Arapahoe Basin
*All events and dates are subject to change.
FILLER
wi n t e r 2014 | 11
c .1962