MICROMARKET REPORT |
Summit County • Quarter 1 2018
SUMMIT COUNTY (Servicing the Resort Communities of Breckenridge & Keystone)
3
5
1. 6
Copper Mountain
2. Frisco 3. Silverthorne
2
4. Breckenridge 5. Dillon 6. Keystone 1 4
Pictured on cover: 1028 Beeler Place, Copper Mountain
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SUMMIT COUNTY market update With no shortage of year-round activities and breathtaking mountain vistas at every turn, it is no surprise that Summit County (Breckenridge, Keystone, Copper) continues to attract buyers from around the world. Located on the western side of the Continental Divide, less than a twohour drive from Denver, the Summit County real estate market demonstrated signs of a healthy balance in January through March 2018, compared to that of 2017. This can be correlated to consumers’ continued desire for lifestyle-inspired home purchases, coupled with little available inventory. The number of single family homes sold remained the same year-over-year, holding at 88. The average sales price in Summit County also held year-over-year, at $734,206, January through March 2018. Across the board, days on market dropped a significant 31.8% year-over-year, from 85 days in 2017, to just 58 days in 2018, an excellent time frame in a resort market, where homes typically stay on the market longer. The number of days a home in Summit County remains on the market averages just two months, demonstrates extremely competitive conditions in the region’s highly desirable marketplace.
SUMMIT COUNTY January through March Sold Listings (All Properties) Sold Single Family Sold Condos/TH/DP Average Days on Market Average Price % Sold Price to List Price Total Dollar Volume Sold
2017
2018
% Change
331
299
-9.7%
88
88
0.0%
243
211
-13.2%
85
58
-31.8%
$735,715
$734,206
-0.2%
97.9%
98.8%
0.9%
$243,521,755
$219,527,730
-9.9%
All Properties
Highlights from the Summit County area include the average price of all properties in Frisco rising to $760,196, up 22.2% from 2017, and Keystone’s average price of all properties rising to $660,999, up 20.5% from 2017. Breckenridge/Blue River’s average price for condos, townhomes, and duplexes rose to $708,627, up 4.8%, from 2017. Known locally as ‘Colorado’s Playground,’ real estate values are projected to rise based on consumers’ continued desire to purchase homes in areas that offer exceptional year-round opportunities for recreation.
livsothebysrealty.com
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 | Summit County QUARTER 1 2018 • COLORADOMICROREPORTS.COM
BRECKENRIDGE/BLUE RIVER January through March
2017
Average Price
$1,015,508
$852,927
-16.0%
$502
$512
2.1%
86
77
-10.5%
$4,200,000
$3,175,000
-24.4%
133
110
-17.3%
97.4%
97.5%
0.1%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
All Properties 639 Gold Run Road, Breckenridge
BRECKENRIDGE/BLUE RIVER January through March
2017
2018
Average Price
$1,441,352
$1,162,141
-19.4%
$423
$387
-8.4%
113
122
8.0%
$4,200,000
$3,175,000
-24.4%
59
35
-40.7%
96.5%
96.2%
-0.3%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
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/BLUE RIVER January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$675,984
$708,627
4.8%
$565
$571
1.0%
63
56
-11.1%
$2,803,600
$2,400,000
-14.4%
74
75
1.4%
98.0%
98.1%
0.0%
4.8%
January through March 2018, the average price of condos, townhomes, and duplexes in Breckenridge/Blue River increased by 4.8% compared to that of 2017.
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FRISCO January through March
Frisco has a 1-mile radius, which offers visitors an easily walkable experience to the many local shops and restaurants, hiking trails, and parks the town boasts.
2017
Average Price
$760,196
22.2%
$413
$473
14.4%
39
46
17.9%
$1,399,000
$2,300,000
64.4%
27
25
-7.4%
98.1%
98.2%
0.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$622,126
Average Price per Square Foot
Highest Price
2018
All Properties
FRISCO January through March
2017
2018
Average Price
$1,157,333
$1,148,375
-0.8%
$415
$494
19.0%
100
81
-19.0%
$1,399,000
$2,300,000
64.4%
3
8
166.7%
98.3%
98.0%
-0.2%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Single Family Homes 515 Kokopelli Court, Frisco
12.1%
The average price per square foot for condos, townhomes, and duplexes in Frisco increased by 12.1% January through March 2018 compared to that of 2017.
FRISCO January through March
2017
Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
$555,225
$577,524
4.0%
$413
$463
12.1%
31
30
-3.2%
$730,000
$989,000
35.5%
24
17
-29.2%
98.1%
98.2%
0.1%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
DILLON/SUMMIT COVE January through March Average Price
2017
$519,558
65.8%
$310
$358
15.4%
13
33
153.8%
$870,000
$1,130,000
29.9%
29
24
-17.2%
98.7%
97.7%
-1.0%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$313,302
Average Price per Square Foot
Highest Price
2018
Dillon boasts the largest fresh water reservoir in Summit County, Lake Dillon, and is conveniently located south of I-70 with quick access to Frisco and Silverthorne.
All Properties
DILLON/SUMMIT COVE January through March Average Price
2017
$748,000
7.5%
$277
$293
5.8%
46
56
21.7%
$870,000
$1,130,000
29.9%
4
9
125.0%
97.7%
97.3%
-0.4%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$695,557
Average Price per Square Foot
Highest Price
2018
Single Family Homes 780 Alpine Drive, Dillon
DILLON/SUMMIT COVE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$252,141
$382,493
51.7%
$316
$397
25.9%
8
19
137.5%
$553,000
$974,000
76.1%
25
15
-40.0%
98.9%
97.9%
-1.0%
51.7%
The average price for condos, townhomes, and duplexes in Dillon/Summit Cove increased by 51.7% January through March 2018 compared to that of 2017.
coloradomicroreports.com
SILVERTHORNE/WILDERNEST January through March
2017
Average Price
$740,528
33.7%
$326
$372
14.0%
79
51
-35.4%
$1,750,000
$1,470,000
-16.0%
51
54
5.9%
97.6%
99.2%
1.7%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$553,684
Average Price per Square Foot
Highest Price
2018
All Properties 3001 Homestead Lane, Silverthorne
17.8%
January through March 2018, the average price per square foot for single family homes in Silverthorne/Wildernest increased by 17.8% compared to that of 2017.
SILVERTHORNE/WILDERNEST January through March
2017
Average Price
$1,002,167
$984,356
-1.8%
$310
$365
17.8%
202
60
-70.3%
$1,750,000
$1,470,000
-16.0%
12
29
141.7%
95.9%
98.3%
2.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
Single Family Homes
SILVERTHORNE/WILDERNEST January through March
2017
Average Price Average Price per Square Foot
Silverthorne, the second most populous town in Summit County, and is beautifully situated between the Gore Range and Continental Divide.
Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
$415,690
$457,688
10.1%
$331
$380
14.6%
41
40
-2.4%
$865,000
$795,000
-8.1%
39
25
-35.9%
98.1%
100.3%
2.2%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
QUARTER 1 2018 •COLORADOMICROREPORTS.COM
KEYSTONE January through March Average Price
2017
$660,999
20.5%
$429
$487
13.4%
82
51
-37.8%
$2,312,500
$1,864,000
-19.4%
53
74
39.6%
97.9%
99.0%
1.2%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$548,766
Average Price per Square Foot
Highest Price
2018
All Properties 89 Erickson Loop #7A, Keystone
KEYSTONE January through March
2017
2018
Average Price
$1,491,500
$1,162,500
-22.1%
$352
$351
-0.5%
418
149
-64.4%
$2,312,500
$1,864,000
-19.4%
5
7
40.0%
95.8%
96.3%
0.5%
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
% Change
Keystone Resort ski area offers access to 3 seperate mountains, Dercum Mountain, North Peak, and The Outback, and provides visitors with numerous winter and summer outdoor activities.
Single Family Homes
KEYSTONE January through March Average Price Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes
2017
2018
% Change
$450,565
$608,604
35.1%
$437
$501
14.6%
47
41
-12.8%
$1,045,000
$1,300,000
24.4%
48
67
39.6%
98.1%
99.3%
1.3%
35.1%
The average price per square foot for condos, townhomes, and duplexes in Keystone increased by 35.1% January through March 2018 compared to that of 2017.
coloradomicroreports.com
11.5%
January through March 2018, the average price in Copper Mountain increased by 11.5% compared to that of 2017.
COPPER MOUNTAIN January through March
2017
Average Price
$444,083
-34.5%
$476
$531
11.5%
183
35
-80.9%
$2,800,000
$900,000
-67.9%
36
12
-66.7%
96.4%
96.5%
0.1%
Average Days on Market
Properties Sold % Sold Price to List Price
% Change
$677,514
Average Price per Square Foot
Highest Price
2018
All Properties
COPPER MOUNTAIN January through March
2017
Average Price
% Change
$2,231,250
-
-
$576
-
-
417
-
-
$2,800,000
-
-
4
No Sales
-
94%
-
-
Average Price per Square Foot Average Days on Market Highest Price
2018
Properties Sold % Sold Price to List Price Single Family Homes 154 Wheeler Place #154, Copper Mountain
COPPER MOUNTAIN January through March
2017
Average Price
Copper Mountain is conveniently located just 75 miles from Denver and boasts 2,490 acres of ski terrain.
Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price
2018
% Change
$483,297
$444,083
-8.1%
$464
$531
14.5%
154
35
-77.3%
$1,925,000
$900,000
-53.2%
32
12
-62.5%
96.7%
96.5%
-0.2%
Condos, Townhomes, Duplexes
MICROMARKET REPORT | Summit County livsothebysrealty.com
QUARTER 1 2018 • COLORADOMICROREPORTS.COM
The life you love.
livsothebysrealty.com | coloradomicroreports.com 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.