Summit County, Colorado Year End 2020 Micro Market Repor

MICROMARKET REPORT

SUMMIT COUNTY | YEAR END 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: 22 Trade Court, Keystone

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SUMMIT COUNTY MARKET UPDATE

Summit County embodies what it means to live in Colorado. Surrounding by sweeping valleys, snowcapped peaks, and home to some of the best skiing, hiking, and fishing in the state, it’s no wonder that Summit County is a top destination for those looking for an escape from the ordinary. Throughout 2020, and the challenges that came with it, this community experienced dramatic dips and rises in real estate activity.

Ultimately, the unbeatable lifestyle available to residents in Summit County proved to be stronger than the unprecedented circumstances of COVID-19, resulting in a surge of homebuying within this lively mountain community.

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 December, compared to the same time frame of 2019, communities in the area saw an increase in sold listings by 19.8%. This rise in properties sold is a result of consumers’ shift in homebuying priorities, from searching for city living to finding homes in communities that focus on quality of life and wellness. Due to the increase in demand, average home prices for this Summit County grew from $824,005 to $907,853, a 10.2% increase.

SUMMIT COUNTY January through December

2019

2020

% Change

Sold Listings (All Properties)

1,785

2,139

19.8%

524

619

18.1%

1,261

1,520

20.5%

58

63

8.6%

$824,005

$907,853

10.2%

97.8%

98.4%

0.5%

$1,470,849,730

$1,942,476,803

32.1%

Sold Single Family Sold Condos/TH/DP Average Days on Market Average Price

This year has yielded positive growth for both the single family home sector as well as the condominium, duplex, and townhome sector of the market. Single family home sales increased by 18.1% in 2020 compared to 2019.

Condominiums, duplexes, and townhome sales increased by 20.5% in the same comparison to the previous year.

% Sold Price to List Price Total Dollar Volume Sold

All Properties

In Keystone, single family homes saw a significant increase in the number of listings sold throughout 2020. This resort community experienced a 62.5% increase in single family homes sales, growing from 24 listings sold in 2019 to 39 homes sold last year. In examining condominiums, duplexes, and townhomes sales, Copper Mountain saw the largest increase in listings sold, growing from 59 residences sold in 2019 to 107 residences sold in 2020, an 81.4% difference.

As a result of the strong demand for homes in Summit County, average prices for homes in several neighborhoods went up in 2020 compared to 2019. In Breckenridge, one of the most popular ski resort communities in the U.S., the average price for homes increased by 4.2%, making the average price for all property types $1,186.177. The nearby town of Frisco saw an impressive 14.8% increase in average property prices, bringing the average price to $831,343.

Summit County’s mountain lifestyle was evidently in high demand during 2020. The average days on market, a metric that helps illustrate how quickly homes in the area sold, decreased in several communities within the county. One of the most notable decreased was seen within the single family home market in Copper Mountain, where the average days on market for homes fell by 66.5%, from 385 days to 129 days.

Keystone properties also experience a noticeable decrease, declining by 43.7% days on market.

With more consumers looking for homes that can elevate their lifestyle and put them closer to the Colorado’s natural beauty, Summit County’s real estate market will continue to thrive with homebuying and selling opportunities.

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 - DECEMBER 2020 • COLORADOMICROREPORTS.COM

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

2019

2020

% Change

$1,138,526

$1,186,177

4.2%

$568.17

$598.85

5.4%

74

70

-5.4%

$10,100,000

$7,000,000

-30.7%

625

778

24.5%

97.3%

97.8%

0.5% All Properties

56 Wildcat Road, Breckenridge

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

2019

2020

% Change

$1,610,463

$1,681,230

4.4%

$462.99

$497.09

7.4%

90

85

-5.6%

$10,100,000

$7,000,000

-30.7%

268

325

21.3%

96.8%

97.3%

0.5%

Breckenridge Ski Resort, 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

12.8%

The highest price for condos, townhomes,

duplexes, and triplexes in Breckenridge increased by 12.8% January through December 2020 compared to that of 2019.

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

2019

2020

% Change

$784,243

$831,007

6.0%

$647.14

$671.86

3.8%

63

59

-6.3%

$2,835,628

$3,200,000

12.8%

357

453

26.9%

97.7%

98.2%

0.5%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

FRISCO January through December

2020

% Change

$724,347

$831,343

14.8%

$506.81

$538.24

6.2%

39

37

-5.1%

$2,099,000

$2,050,000

-2.3%

The average price for all properties in Frisco

169

207

22.5%

increased by 14.8% January through December

98.4%

98.4%

0.0%

2020 compared to that of 2019.

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

14.8%

2019

Properties Sold % Sold Price to List Price All Properties

FRISCO

Frisco is the Main Street

January through December

to the Rockies, located at

Average Price

the epicenter of Summit

Average Price per Square Foot

County, just 30 minutes

Average Days on Market

from six world-class ski

Highest Price

resorts including Copper

Properties Sold

Mountain, Breckenridge

% Sold Price to List Price

and Vail.

2019

2020

% Change

$1,154,603

$1,404,839

21.7%

$447.30

$491.95

10.0%

58

67

15.5%

$2,099,000

$2,050,000

-2.3%

32

37

15.6%

97.2%

97.4%

0.1%

Single Family Homes

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

2019

2020

% Change

$623,850

$706,524

13.3%

$520.71

$548.32

5.3%

34

31

-8.8%

$1,650,000

$1,695,000

2.7%

137

170

24.1%

98.8%

98.7%

-0.2%

Condominiums, Townhomes, Duplexes and Triplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

DILLON/SUMMIT COVE

8.1%

January through December Average Price Average Price per Square Foot Average Days on Market

The average price for all properties in Dillon and Summit Cove increased by 8.1% January through

Highest Price Properties Sold

December 2020 compared to that of 2019.

% Sold Price to List Price

2019

2020

% Change

$555,461

$600,404

8.1%

$416.24

$441.66

6.1%

37

64

73.0%

$2,300,000

$1,965,000

-14.6%

221

210

-5.0%

98.1%

11.0%

-88.8% All Properties

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

2019

2020

% Change

$888,615

$1,002,159

12.8%

$334.75

$372.88

11.4%

49

43

-12.2%

$2,300,000

$1,965,000

-14.6%

63

49

-22.2%

97.3%

97.8%

0.6%

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

2019

2020

% Change

$422,621

$478,131

13.1%

$448.73

$462.59

3.1%

33

70

112.1%

$1,076,000

$1,700,000

58.0%

158

161

1.9%

98.4%

98.8%

0.4%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

SILVERTHORNE/WILDERNEST January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$679,866

$792,572

16.6%

$399.25

$433.70

8.6%

51

54

5.9%

$2,450,000

$4,875,000

99.0%

435

529

21.6%

98.2%

99.3%

1.1%

All Properties

190 Kestrel Lane, Silverthorne

SILVERTHORNE/WILDERNEST Silverthorne, the second

January through December

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

$1,029,766

$1,270,470

23.4%

$374.10

$432.98

15.7%

56

58

3.6%

$2,450,000

$4,875,000

99.0%

135

165

22.2%

97.3%

98.9%

1.7%

Single Family Homes

SILVERTHORNE/WILDERNEST January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$522,412

$575,942

10.2%

$410.57

$434.02

5.7%

49

51

4.1%

$1,195,000

$1,400,000

17.2%

300

364

21.3%

98.7%

99.5%

0.8%

21.3% The number of properties sold for condos, townhomes, duplexes, and triplexes in the neighborhood of Silverthorne and Wildernest increased by 21.3% January through December 2020 compared to that of 2019.

Condominiums, Townhomes, Duplexes and Triplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

11.6%

KEYSTONE January through December Average Price Average Price per Square Foot

The average price for all properties in Keystone

Average Days on Market

increased by 11.6% in January through December

Highest Price

2020 compared to that of 2019.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$648,829

$723,996

11.6%

$505.90

$532.10

5.2%

58

68

17.2%

$3,450,000

$3,322,000

-3.7%

274

304

10.9%

97.9%

98.3%

0.4% All Properties

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

2019

2020

% Change

$1,473,071

$1,674,667

13.7%

$370.51

$429.34

15.9%

119

67

-43.7%

$3,450,000

$3,322,000

-3.7%

24

39

62.5%

96.2%

96.6%

0.4%

Keystone Resort ski area 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 December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

22 Trade Court, Keystone

2019

2020

% Change

$569,702

$584,087

2.5%

$518.89

$547.22

5.5%

52

68

30.8%

$1,355,000

$1,500,000

10.7%

250

265

6.0%

98.1%

98.5%

0.5%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

COPPER MOUNTAIN January through December Average Price Average Price per Square Foot Average Days on Market Highest Price

2019

2020

% Change

$665,221

$734,356

10.4%

$577.44

$608.26

5.3%

77

85

10.4%

10.4%

$3,380,000

$3,600,000

6.5%

The average price for all properties in Copper

61

111

82.0%

Mountain increased by 10.4% January through

97.2%

97.3%

0.1%

December 2020 compared to that of 2019.

Properties Sold % Sold Price to List Price All Properties

COPPER MOUNTAIN January through December

Copper Mountain is

Average Price

conveniently located just

Average Price per Square Foot

75 miles from Denver and

Average Days on Market

boasts 2,490 acres of ski

Highest Price

terrain.

Properties Sold % Sold Price to List Price

2019

2020

% Change

$3,215,000

$3,092,000

-3.8%

$547.39

$583.09

6.5%

385

129

-66.5%

$3,380,000

$3,600,000

6.5%

2

4

100.0%

98.3%

95.0%

-3.3%

Single Family Homes

COPPER MOUNTAIN January through December Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price

2019

2020

% Change

$578,788

$646,220

11.7%

$578.45

$609.20

5.3%

66

83

25.8%

$1,830,000

$1,930,000

5.5%

59

107

81.4%

97.2%

97.4%

0.2%

Condominiums, Townhomes, Duplexes and Triplexes

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2020 • COLORADOMICROREPORTS.COM

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

NATIONAL PARKS: 4

WHY coloradomicroreports.com

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

COLORADO? MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 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.