Breckenridge

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 SUMMIT COUNTY had on the market. Sold listings through June of this January through June 2019 2020 % Change 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. 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.