Summit County Year End 2019 Micro Market Report

MICROMARKET REPORT

SUMMIT COUNTY | YEAR END 2019

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: 159 Sage Drive, Breckenridge

coloradomicroreports.com

SUMMIT COUNTY MARKET UPDATE

Summit County, named for the many mountain peaks that lie within the county lines, is a famously beautiful place to call home. Containing some of the most popular ski resorts in Colorado, towns such as Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, and Silverthorne are often some of the most sought-after destinations to buy and sell homes. Whether you’re looking for a second home or a full-time residence, these mountain towns are great communities to make real estate moves in.

LIV Sotheby’s International Realty produces a Micro Market Report focused on real estate performance for Summit County and the neighborhoods within it. The year-end total dollar volume sold, compared to 2018, grew by an impressive January through December 2018 2019 % Change 5.5% making the total sales for this area Sold Listings (All Properties) 1,810 1,782 -1.5% $1,468,311,718.

SUMMIT COUNTY

Sold Single Family

543

522

-3.9%

Sold Condos/TH/DP 1,267 1,260 -0.6% In Breckenridge, Summit County’s largest city, Average Days on Market 51 58 13.7% the average price for all property types showed Average Price $789,030 $847,526 7.4% an upward trend in 2019. The average price for % Sold Price to List Price 98% 98% -0.2% single family homes grew by 17.9% during 2019 in a comparison to 2018, bringing the average Total Dollar Volume Sold $1,392,032,627 $1,468,311,718 5.5% home price to $1,612,707. Condominiums, All Properties townhomes, duplexes, and triplexes in this mountain community also saw a rise in pricing. Home prices in this category rose by 13.6%, making the average attached home price in Breckenridge for 2019 $784,901.

Out of all of the cities in Summit County, Dillon and Summit Cove had the most impressive increase in properties sold, with a 27.7% rise in home sales for all property types. Within this market, single family home sales grew by 21.2% and condominium, townhome, duplex, and triplex sales rose by 30.6%.

The Summit County real estate market is undoubtedly a successful segment of Colorado’s many housing markets. For those looking for communities unlike anything else, these high-altitude neighborhoods display confidence in purchasing real estate and may be a good fit for you.

Based on Information from SAR MLS. This representation is based in whole or in part on data supplied by SAR MLS. SAR MLS does not guarantee nor is in any way responsible for its accuracy.

Data maintained by SAR MLS may not reflect all real estate activity in the market.

MICROMARKET REPORT | Denver Metro livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

19.9% The average price for all properties in

Breckenridge increased by 19.9% in 2019 compared to that of 2018.

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

2018

2019

% Change

$950,131

$1,139,675

19.9%

$524

$568

8.5%

60

75

25.0%

$4,700,000

$10,100,000

114.9%

703

623

-11.4%

98%

97%

-0.6% All Properties

BRECKENRIDGE January through December

2018

2019

% Change

$1,368,262

$1,612,707

17.9%

$420

$463

10.1%

82

90

9.8%

$4,700,000

$10,100,000

114.9%

Properties Sold

269

267

-0.7%

% Sold Price to List Price

97%

97%

0.3%

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

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

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

159 Sage Trail, Breckenridge

2018

2019

% Change

$690,967

$784,901

13.6%

$588

$648

10.3%

47

63

34.0%

$2,825,000

$2,835,628

0.4%

434

356

-18.0%

98%

98%

-0.2%

Condominiums, Townhomes, Duplexes and Triplexes

coloradomicroreports.com

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

2018

2019

% Change

$780,006

$722,492

-7.4%

$481

$506

5.2%

37

39

5.4%

$2,300,000

$2,099,000

-8.7%

163

170

4.3%

98%

98%

-0.1%

All Properties

37 Hawn Drive, Frisco

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.

2018

2019

% Change

$1,242,008

$1,154,603

-7.0%

$443

$447

1.0%

45

58

28.9%

$2,300,000

$2,099,000

-8.7%

46

32

-30.4%

97%

97%

-0.2%

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

2018

2019

% Change

$598,364

$622,293

4.0%

$496

$520

4.8%

34

34

0.0%

$1,338,275

$1,650,000

23.3%

117

138

17.9%

98%

99%

0.5%

Condominiums, Townhomes, Duplexes and Triplexes

318 S 8th Avenue Unit #M-8, Frisco

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

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

2018

2019

% Change

$555,036

$555,461

0.1%

$381

$416

9.3%

24

37

54.2%

$1,555,000

$2,300,000

47.9%

173

221

27.7%

99%

98%

-0.7% All Properties

315 Meadow Wood Circle, Dillon

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

2018

2019

% Change

$866,099

$888,615

2.6%

$305

$335

9.7%

42

49

16.7%

$1,555,000

$2,300,000

47.9%

52

63

21.2%

98%

97%

-1.1%

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

30.6%

The number of properties sold for multi-family homes in Dillon/Summit Cove increased by

30.6% in 2019 compared to that of 2018.

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

2018

2019

% Change

$412,761

$422,621

2.4%

$413

$449

2.4%

17

33

94.1%

$1,150,000

$1,076,000

-6.4%

121

158

30.6%

99%

98%

-0.9%

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

2018

2019

% Change

Silverthorne, the second

$675,305

$679,806

0.7%

most populous town

$377

$399

5.9%

44

51

15.9%

$2,765,000

$2,450,000

-11.4%

351

433

23.4%

98%

98%

-0.5%

in Summit County, is beautifully situated between the Gore Range and Continental Divide.

All Properties

7.5%

The average price for single family homes in

Silverthorne/Wildernest increased by 7.5% in 2019 compared to that of 2018.

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

2018

2019

% Change

$957,963

$1,029,713

7.5%

$366

$373

1.9%

66

57

-13.6%

$2,450,000

$2,450,000

0.0%

140

134

-4.3%

98%

97%

-0.8%

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

2018

2019

% Change

$487,758

$522,992

7.2%

$384

$410

6.9%

29

49

69.0%

$2,765,000

$1,195,000

-56.8%

211

299

41.7%

99%

99%

0.1%

Condominiums, Townhomes, Duplexes and Triplexes

755 Golden Eagle Road, Silverthorne

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

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

2018

2019

% Change

$640,538

$648,829

1.3%

$486

$506

4.1%

55

58

5.5%

$3,050,000

$3,450,000

13.1%

329

274

-16.7%

98%

98%

-0.3% All Properties

135 Dercum Drive #8573, Keystone

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

2018

2019

% Change

$1,468,259

$1,473,071

0.3%

$382

$371

-3.0%

99

119

20.2%

$3,050,000

$3,450,000

13.1%

33

24

-27.3%

96%

96%

-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

3.9%

The average price of condos, townhomes, duplexes and triplexes in Keystone increased

by 3.9% in 2019 compared to that of 2018.

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

2018

2019

% Change

$548,259

$569,702

3.9%

$498

$519

4.3%

50

52

4.0%

$1,300,000

$1,355,000

4.2%

296

250

-15.5%

99%

98%

-0.6%

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 Properties Sold % Sold Price to List Price

12.2%

2018

2019

% Change

$584,169

$655,221

12.2%

$551

$577

4.8%

70

77

10.0%

$3,500,000

$3,380,000

-3.4%

The average price for all properties in

91

61

-33.0%

Copper Mountain increased by 12.2% in

97%

97%

-0.4%

2019 compared to that of 2018.

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

2018

2019

% Change

$2,959,500

$3,215,000

8.6%

$545

$547

0.3%

325

385

18.5%

$3,500,000

$3,380,000

-3.4%

3

2

-33.3%

93%

98%

4.8%

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

2018

2019

% Change

$503,192

$578,788

15.0%

$551

$578

5.0%

62

66

6.5%

$1,888,000

$1,830,000

-3.1%

88

59

-33.0%

97%

97%

-0.1%

Condominiums, Townhomes, Duplexes and Triplexes

882 Beeler Place, Copper Mountain

MICROMARKET REPORT | Summit County resorts.livsothebysrealty.com

JANUARY - DECEMBER 2019 • COLORADOMICROREPORTS.COM

WHY COLORADO? NATIONAL PARKS: 4

MOUNTAIN RANGES: 7

SKI AREAS & RESORTS: 28

AVERAGE DAYS OF SUNSHINE ANNUALLY: 300

CRAFT BREWERIES: 350+

IMAGINE. DESIGN. SHOP.

Available now for download in the Google Play Store and the iOS App Store.

© MMXIX Sotheby’s International Realty Affiliates LLC. All Rights Reserved. Sotheby’s International Realty Affiliates LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each Office is Independently Owned and Operated. Sotheby’s International Realty and the Sotheby’s International Realty logo are registered (or unregistered) service marks licensed to Sotheby’s International Realty Affiliates LLC.

The life you love.

livsothebysrealty.com | coloradomicroreports.com Based on Information from REColorado. This representation is based in whole or in part on data supplied by REColorado. REColorado does not guarantee nor is in any way responsible for its accuracy. Data maintained by REColorado may not reflect all real estate activity in the market.