Summit County Q1 2020 Micro Market Report

MICROMARKET REPORT

SUMMIT COUNTY |

Q1 2020

SUMMIT COUNTY

TOWNS & NEIGHBORHOODS 1.

Breckenridge

2. Copper Mountain 3. Frisco

4

4. Silverthorne

5

5. Dillon 6. Keystone

6

3

2 1

Pictured on cover: 301 Raven Golf Lane, Silverthorne

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SUMMIT COUNTY MARKET UPDATE

Summit County is a special place. It serves as a nearby mountain escape for those living in the flatlands and a thriving resort community to those who call it home. Housing some of Colorado’s most famous mountain peaks and ski resorts, the towns that makeup Summit County, including Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, and Silverthorne, are perfectly positioned to provide outdoor adventures paired with plenty of community culture. Tastetest local cuisine, admire works of art created by community craftsmen or be entertained at any number of seasonal festivals and events in these lively mountain towns. It’s no wonder Summit County is such a popular destination to invest in seasonal and full-time homes.

LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate for Summit County and the neighborhoods within it.

During Q1 of 2020, compared to the same time frame of 2019, the number of sold condominiums, townhomes, and duplexes increased by 3.8%.

From January through March of this year, 190 condominiums, townhomes, and duplexes homes sold in comparison to Q1 of 2019 when 183 sold.

SUMMIT COUNTY January through March 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

2019

2020

% Change

269

262

-2.6%

86

72

-16.3%

183

190

3.8%

68

74

8.8%

$861,119

$854,968

-0.7%

98.1%

97.7%

-0.4%

$231,641,047

$224,001,535

-3.3%

All Properties

Out of all towns within Summit County, Breckenridge saw the largest increase in total properties sold, rising by 29.3%. During Q1 of this year, 119 homes were sold in this extremely popular resort community compared to Q1 of the previous year when 92 homes sold. On a smaller scale, condominiums, townhomes, and duplex sales rose the most in this town as well. Total sales for condominiums, townhomes, and duplexes increased by an impressive 71.7% during Q1 of 2020 when 79 homes sold compared to Q1 of 2019 when 46 homes sold.

Single family homes in Frisco sold much more quickly during Q1 of 2020 than they did in Q1 of 2019. According to the LIV Sotheby’s International Realty Micro Market Report, the average days on market fell by 86.1%. Single family homes in Frisco were on the market for an average of just 11 days during Q1 of this year, compared to 79 days in Q1 of 2019.

Enjoy the fresh air, friendly community, and fun activities that Summit County has to offer. This area is one that you’ll want to call home.

Based on Information from Summit Association of Realtors®. This representation is based in whole or in part on data supplied by Summit Association of Realtors®. Summit Association of Realtors® does not guarantee nor is in any way responsible for its accuracy. Data maintained by Summit Association of Realtors® may not reflect all real estate activity in the market.

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - MARCH 2020 • COLORADOMICROREPORTS.COM

BRECKENRIDGE January through March

2019

Average Price

$1,201,207

$1,044,749

-13.0%

$543

$603

11.1%

92

73

-20.7%

$4,800,000

$4,600,000

-4.2%

92

119

29.3%

97.4%

97.2%

-0.2%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

% Change

All Properties

230 Campion Trail, Breckenridge

BRECKENRIDGE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

Breckenridge Ski Resort,

% Change

$1,607,421

$1,583,894

-1.5%

$440

$492

11.8%

125

103

-17.6%

$4,800,000

$4,600,000

-4.2%

46

40

-13.0%

96.4%

96.0%

-0.4%

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.

Single Family Homes

BRECKENRIDGE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

159 Sage Drive, Breckenridge

2019

2020

% Change

$794,993

$771,765

-2.9%

$646

$659

2.1%

58

58

0.0%

$2,500,000

$2,525,000

1.0%

46

79

71.7%

98.5%

97.9%

-0.6%

Condominiums, Townhomess, Duplexes and Triplexes

coloradomicroreports.com

FRISCO January through March

2019

46.3%

% Change

$580,251

$848,730

46.3%

$511

$530

3.6%

48

30

-37.5%

$1,890,000

$1,315,000

-30.4%

The average price for all properties in Frisco

29

25

-13.8%

increased by 46.3% in 2020 compared to

99.8%

98.1%

-1.7%

that of 2019.

Average Price Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price All Properties

FRISCO

Frisco is the Main Street to the Rockies, located at the epicenter of Summit

January through March

2019

Average Price

$1,142,500

$970,000

-15.1%

$377

$494

31.0%

79

11

-86.1%

$1,890,000

$1,300,000

-31.2%

4

2

-50.0%

93.3%

96.5%

3.5%

Average Price per Square Foot

County, just 30 minutes

Average Days on Market

from 6 world class ski

Highest Price

resorts including Copper

Properties Sold

Mountain, Breckenridge

% Sold Price to List Price

and Vail.

2020

% Change

Single Family Homes

FRISCO January through March

2019

% Change

$490,291

$838,185

71.0%

$532

$533

0.1%

43

32

-25.6%

$1,250,000

$1,315,000

5.2%

25

23

-8.0%

100.9%

98.3%

-2.5%

Average Price Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price Condominiums, Townhomess, Duplexes and Triplexes

622 Teller Street Aly B, Frisco

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3.0%

DILLON/SUMMIT COVE January through March

2019

Average Price

$558,188

-0.7%

$389

$401

3.0%

44

51

15.9%

$1,290,000

$1,275,000

-1.2%

31

20

-35.5%

97.9%

97.7%

-0.3%

Average Days on Market Highest Price

properties in Dillon increased by 3.0% in

Properties Sold

2020 compared to that of 2019

% Sold Price to List Price

% Change

$562,135

Average Price per Square Foot

The average price per square foot for all

2020

All Properties

DILLON/SUMMIT COVE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$802,607

$999,500

24.5%

$315

$296

-5.8%

77

44

-42.9%

$1,290,000

$1,275,000

-1.2%

12

3

-75.0%

97.0%

98.7%

1.7%

Dillon is located in the heart of Summit County along the shores of the beautiful Dillon Reservoir, or more commonly known as Lake Dillon.

Single Family Homes

DILLON/SUMMIT COVE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

301 Raven Golf Lane, Silverthorne

2019

2020

% Change

$410,258

$480,309

17.1%

$437

$420

-3.9%

23

52

126.1%

$680,000

$915,000

34.6%

19

17

-10.5%

98.5%

97.5%

-1.0%

Condominiums, Townhomess, Duplexes and Triplexes

coloradomicroreports.com

SILVERTHORNE/WILDERNEST January through March

2019

17.4%

% Change

$661,322

$776,175

17.4%

$387

$444

14.8%

37

75

102.7%

$2,450,000

$2,105,000

-14.1%

The average price for all properties in the

55

54

-1.8%

neighborhood of Silverthorne and Wildernest

98.4%

99.0%

0.6%

increased by 17.4% in 2020 compared to that

Average Price Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price

of 2019.

All Properties

SILVERTHORNE/WILDERNEST Silverthorne, the second

January through March

most populous town

Average Price

in Summit County, is

Average Price per Square Foot

beautifully situated

Average Days on Market

between the Gore Range

Highest Price

and Continental Divide.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$1,134,344

$1,116,519

-1.6%

$340

$414

21.7%

62

69

11.3%

$2,450,000

$2,105,000

-14.1%

16

22

37.5%

97.5%

98.9%

1.5%

Single Family Homes

SILVERTHORNE/WILDERNEST January through March

2019

Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

% Change

$467,261

$542,188

16.0%

$406

$464

14.5%

27

79

192.6%

$939,000

$1,019,496

8.6%

39

32

-17.9%

98.7%

99.0%

0.3%

Condominiums, Townhomess, Duplexes and Triplexes

535 Straight Creek Drive #304, Dillon

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KEYSTONE January through March Average Price

2019

$603,984

-25.1%

$492

$521

6.0%

72

115

59.7%

$3,450,000

$1,500,000

-56.5%

53

32

-39.6%

98.5%

97.4%

-1.2%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$806,865

Average Price per Square Foot

Highest Price

2020

All Properties

135 Dercum Drive #8573, Keystone

KEYSTONE January through March

2019

Average Price

$1,754,065

$1,110,400

-36.7%

$397

$338

-15.0%

136

111

-18.4%

$3,450,000

$1,500,000

-56.5%

7

5

-28.6%

97.4%

93.7%

-3.8%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2020

Keystone Resort ski area

% Change

offers access to three separate mountains, Dercum Mountain, North Peak, and The Outback, and provides visitors with numerous winter and summer outdoor activities.

Single Family Homes

KEYSTONE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$662,725

$510,204

-23.0%

$506

$555

9.7%

62

115

85.5%

$1,310,000

$870,000

-33.6%

46

27

-41.3%

98.7%

98.0%

-0.7%

Condominiums, Townhomess, Duplexes and Triplexes

26 Rasor Drive #26, Keystone

coloradomicroreports.com

COPPER MOUNTAIN January through March

2019

37.5%

% Change

$860,000

$504,450

-41.3%

$558

$594

6.5%

144

90

-37.5%

$3,380,000

$739,000

-78.1%

The average days on market for all

9

12

33.3%

properties in Copper Mountain decreased by

97.0%

97.3%

0.3%

37.5% in 2020 compared to that of 2019.

Average Price Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price All Properties

COPPER MOUNTAIN January through March

2019

Copper Mountain is

Average Price

$3,380,000

-

-100.0%

conveniently located just

Average Price per Square Foot

$576

-

-100.0%

75 miles from Denver and

Average Days on Market

550

-

-100.0%

boasts 2,490 acres of ski

Highest Price

$3,380,000

-

-100.0%

terrain.

Properties Sold

1

No Sales

-100.0%

99.7%

-

-100.0%

% Sold Price to List Price

2020

% Change

Single Family Homes

COPPER MOUNTAIN January through March

2019

% Change

$545,000

$504,450

-7.4%

$556

$594

7.0%

94

90

-4.3%

$1,400,000

$739,000

-47.2%

8

12

50.0%

96.7%

97.3%

0.7%

Average Price Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price Condominiums, Townhomess, Duplexes and Triplexes

882 Beeler Place, Copper Mountain

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - MARCH 2020 • COLORADOMICROREPORTS.COM

The life you love.

resorts.livsothebysrealty.com | coloradomicroreports.com Based on Information from Summit Association of Realtors速. This representation is based in whole or in part on data supplied by Summit Association of Realtors速. Summit Association of Realtors速 does not guarantee nor is in any way responsible for its accuracy. Data maintained

by Summit Association of Realtors速 may not reflect all real estate activity in the market.