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
coloradomicroreports.com
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.