Summit County Mid Year 2020 Micro Market Report

MICROMARKET REPORT

SUMMIT COUNTY |

MID-YEAR 2020

SUMMIT COUNTY

TOWNS & NEIGHBORHOODS 1. Breckenridge 2. Copper Mountain 3. Frisco

4

5

4. Silverthorne 5. Dillon

6

6. Keystone 3

2 1

Pictured on cover: 71 Sunrise Point Drive, Breckenridge

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SUMMIT COUNTY MARKET UPDATE Local residents and tourists in Colorado’s Summit County are excited about resuming summertime activities such as hiking, biking, and eating out while practicing social distancing due to the pandemic. Along with the return to local restaurants, shopping, and other outings that make the area such an amazing place to live, many consumers are even more eager to reengage with the real estate market in Summit County.

LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate activity for Summit County and the neighborhoods within it. From January to June, compared to the same time frame of 2019, communities in the area saw a dip in the number of sold listings, as can be expected considering the impact the pandemic January through June 2019 2020 % Change had on the market. Sold listings through June of this year decreased by 24% compared to the same time Sold Listings (All Properties) 676 514 -24.0% period the previous year. However, Summit County Sold Single Family 192 140 -27.1% did still see a slight increase in average price of 1.4%, Sold Condos/TH/DP 484 374 -22.7% bringing the average price for the county as a whole Average Days on Market 53 68 28.3% to $838,343 for 2020. Overall, many communities Average Price $826,565 $838,343 1.4% within Summit County still experienced encouraging % Sold Price to List Price 98.2% 97.7% -0.5% real estate activity thanks to the demand from Total Dollar Volume Sold $558,757,717 $431,487,217 -22.8% homebuyers looking for their mountain paradise.

SUMMIT COUNTY

All Properties

The average price for homes in Frisco grew by 13.8%. Homes in this town, popular for its proximity to multiple ski resorts and a host of shops and restaurants, had an average price of $769,644 through June of this year, compared to the same time frame in 2019 when the average price was $676,035. Breckenridge also saw an increase in the average price, specifically for condominiums, townhomes, duplexes and triplexes. The average price increased by 8.5% to $842,022 in 2020, from $776,186 in 2019.

Whether you’re looking to buy or sell a home in these high-altitude communities, there are plenty of opportunities to achieve your real estate goals in Summit County.

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 - JUNE 2020 • COLORADOMICROREPORTS.COM

BRECKENRIDGE January through June Average Price

2019

% Change

$1,170,108

$1,060,183

-9.4%

$576

$579

0.5%

70

66

-5.7%

$10,100,000

$4,600,000

-54.5%

229

200

-12.7%

97.8%

97.2%

-0.6%

Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price

All Properties

129 Club House Road, Breckenridge

BRECKENRIDGE January through June

2019

Average Price

$1,696,678

$1,408,674

-17.0%

$443

$469

5.9%

89

78

-12.4%

$10,100,000

$4,600,000

-54.5%

98

77

-21.4%

97.1%

96.6%

-0.5%

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

2020

Breckenridge Ski Resort,

% Change

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

10.6%

The highest price for condos, townhomes,

duplexes and triplexes in Breckenridge increased by 10.6% January through June 2020 compared to that of 2019.

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

2019

2020

% Change

$776,186

$842,022

8.5%

$676

$648

-4.2%

56

59

5.4%

$2,824,961

$3,125,000

10.6%

131

123

-6.1%

98.3%

97.5%

-0.8%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

FRISCO January through June Average Price

2019

$769,644

13.8%

$508

$543

6.9%

39

31

-20.5%

$1,890,000

$1,315,000

-30.4%

The average price for all properties in Frisco

70

47

-32.9%

increased by 13.8% January through June

99.0%

98.0%

-1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

13.8%

% Change

$676,035

Average Price per Square Foot

Highest Price

2020

2020 compared to that of 2019.

All Properties

FRISCO

Frisco is the Main Street

January through June

to the Rockies, located at

2019

Average Price

the epicenter of Summit

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

$1,156,146

$1,046,750

-9.5%

$437

$542

24.0%

71

35

-50.7%

$1,890,000

$1,308,000

-30.8%

13

4

-69.2%

96.0%

98.0%

2.0%

Single Family Homes

FRISCO January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condominiums, Townhomes, Duplexes and Triplexes

2019

2020

% Change

$566,536

$743,866

31.3%

$524

$543

3.6%

32

31

-3.1%

$1,301,428

$1,315,000

1.0%

57

43

-24.6%

99.7%

98.0%

-1.7%

156 S 4th Avenue, Frisco

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - JUNE 2020 • COLORADOMICROREPORTS.COM

DILLON/SUMMIT COVE

6.1%

January through June

2019

Average Price

$560,778

6.1%

$409

$409

-0.2%

35

57

62.9%

$2,300,000

$1,375,000

-40.2%

90

42

-53.3%

98.4%

96.9%

-1.5%

Average Days on Market Highest Price

Summit Cove increased by 6.1% January through

Properties Sold

June 2020 compared to that of 2019.

% Sold Price to List Price

% Change

$528,717

Average Price per Square Foot

The average price for all properties in Dillon and

2020

All Properties

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

2019

2020

% Change

Dillon is located in the

$881,291

$1,014,167

15.1%

$326

$325

-0.5%

61

64

4.9%

$2,300,000

$1,375,000

-40.2%

or more commonly known

25

9

-64.0%

as Lake Dillon.

97.3%

96.6%

-0.7%

heart of Summit County along the shores of the beautiful Dillon Reservoir,

Single Family Homes

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

263 High Meadow Drive, Dillon

2019

2020

% Change

$393,111

$437,126

11.2%

$441

$431

-2.2%

25

56

124.0%

$815,000

$915,000

12.3%

65

33

-49.2%

98.8%

97.0%

-1.9%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

SILVERTHORNE/WILDERNEST January through June Average Price

2019

$725,465

10.0%

$397

$436

9.9%

33

73

121.2%

$2,450,000

$2,285,800

-6.7%

147

146

-0.7%

98.5%

98.8%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$659,254

Average Price per Square Foot

Highest Price

2020

All Properties

1381 Johnson Road, Silverthorne

SILVERTHORNE/WILDERNEST Silverthorne, the second

January through June

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

$1,069,881

$1,159,676

8.4%

$364

$414

13.8%

53

69

30.2%

$2,450,000

$2,285,800

-6.7%

42

40

-4.8%

97.5%

98.7%

1.3%

Single Family Homes

SILVERTHORNE/WILDERNEST January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condominiums, Townhomes, Duplexes and Triplexes

2019

2020

% Change

13.5%

$495,004

$561,611

13.5%

$410

$445

8.4%

25

75

200.0%

The average price for condos, townhomes,

$1,150,000

$1,030,000

-10.4%

duplexes and triplexes in the neighborhood of

105

106

1.0%

Silverthorne and Wildernest increased by 13.5%

98.9%

98.9%

0.0%

January through June 2020 compared to that of 2019.

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - JUNE 2020 • COLORADOMICROREPORTS.COM

KEYSTONE January through June Average Price

2019

% Change

$688,129

$672,096

-2.3%

$503

$495

-1.5%

58

96

65.5%

$3,450,000

$1,500,000

-56.5%

115

58

-49.6%

98.4%

97.4%

-1.0%

Average Price per Square Foot Average Days on Market Highest Price

2020

Properties Sold % Sold Price to List Price

All Properties

65 Tieze Lane, Keystone

KEYSTONE January through June

2019

2020

Average Price

$1,500,621

$1,086,056

-27.6%

$371

$351

-5.3%

147

92

-37.4%

$3,450,000

$1,500,000

-56.5%

12

9

-25.0%

96.2%

95.6%

-0.6%

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

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

0.4%

The averageprice for condos, townhomes, duplexes and triplexes in Keystone increased by 0.4% in January through June 2020 compared to that of 2019.

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

2019

2020

% Change

$593,470

$596,062

0.4%

$518

$522

0.7%

47

96

104.3%

$1,310,000

$1,275,000

-2.7%

103

49

-52.4%

98.6%

97.7%

-0.9%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

COPPER MOUNTAIN January through June

2019

7.1%

% Change

$794,033

$678,399

-14.6%

$541

$579

7.1%

87

87

0.0%

$3,380,000

$3,600,000

6.5%

The average price per square foot for all properties

25

21

-16.0%

in Copper Mountain increased by 7.1% January

97.0%

96.5%

-0.5%

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

2020

Properties Sold % Sold Price to List Price

through June 2020 compared to that of 2019.

All Properties

COPPER MOUNTAIN January through June

2019

2020

Copper Mountain is

Average Price

$3,215,000

$3,600,000

12.0%

conveniently located just

Average Price per Square Foot

$547

$563

2.9%

75 miles from Denver and

Average Days on Market

385

189

-50.9%

boasts 2,490 acres of ski

Highest Price

$3,380,000

$3,600,000

6.5%

2

1

-50.0%

98.3%

94.9%

-3.5%

terrain.

Properties Sold % Sold Price to List Price

% Change

Single Family Homes

COPPER MOUNTAIN January through June Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condominiums, Townhomes, Duplexes and Triplexes

2019

2020

% Change

$583,514

$532,319

-8.8%

$541

$580

7.3%

61

82

34.4%

$1,524,000

$920,000

-39.6%

23

20

-13.0%

96.9%

96.6%

-0.3%

884 Beeler Place, Copper Mountain

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - JUNE 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.