Summit County Q3, 2018 Micro Market Report

MICROMARKET REPORT |

Summit County • January-September 2018

SUMMIT COUNTY

(Serving the Resort Communities of Breckenridge & Keystone)

4

5

1. Breckenridge 6

2.

Copper Mountain

3. Frisco

3

4. Silverthorne 5. Dillon 6. Keystone 2 1

Pictured on cover: 164 Imperial Way, Breckenridge

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SUMMIT COUNTY market update Summit County (Breckenridge, Copper Mountain, Keystone, Frisco, Dillon, Silverthorne, etc.) offers an unparalleled quality of life with ample year-round activities, a community feel, and breathtaking mountain vistas at every turn. Ideally located on the western side of the Continental Divide and less than a two-hour drive from Denver, Summit County attracts buyers from around the world. Comparing January through September of 2018 to 2017, homes sold quicker even with decreased inventory, showing an increase of buyers desiring the Summit County lifestyle.

Average days on market dropped a notable 22.2% January through September

SUMMIT COUNTY

of 2018 compared to 2017, landing at an average of 49 days in 2018. Now is an ideal time for sellers in Summit County as the average price increased 11%,

January through September

confirming buyers are making purchasing decisions quicker and at higher rates

Sold Listings (All Properties)

than in 2017. The number of single-family homes sold remained relatively the same year-over-year with a 1.8% increase to 403 single-family homes sold January through September 2018.

Highlights from the Summit County area include the average price of all properties in Frisco rising significantly to $818,489, up 25.6% from 2017, and Dillon/Summit Cove’s average price of all properties rising to a noteworthy $558,243, up 29.4% from 2017. Another considerable increase is Dillon/Summit

2017

1,305

-7.4%

396

403

1.8%

1,013

902

-11.0%

63

49

-22.2%

$692,372

$768,352

11.0%

98.3%

98.7%

0.4%

$975,552,667

$1,002,699,124

2.8%

Sold Condos/TH/DP Average Days on Market

% Sold Price to List Price Total Dollar Volume Sold

% Change

1,409

Sold Single Family

Average Price

2018

All Properties

Cove’s average price for condos, townhomes, and duplexes at a 36.3% gain from 2017, to $409,366 in 2018.

LIV Sotheby’s International Realty is currently representing the highest price listing in Summit County, Triple Creek Ranch, located in Silverthorne. The $23,000,000 property is approximately 255 acres and one of the finest private horse ranches available for purchase in the Rocky Mountains.

As a popular market, Summit County continues to attract buyers who are looking for the desired Colorado mountains lifestyle, without being too far from Denver.

Many second-home owners within Summit County come from the Front Range because of proximity.

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 JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

BRECKENRIDGE/BLUE RIVER January through September Average Price

2017

$949,840

4.7%

$503

$533

5.9%

79

59

-25.3%

$4,200,000

$4,700,000

11.9%

528

484

-8.3%

97.6%

97.7%

0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$907,563

Average Price per Square Foot

Highest Price

2018

All Properties 773 Indiana Creek Road, Breckenridge

BRECKENRIDGE/BLUE RIVER January through September Average Price

2017

$1,347,303

3.2%

$404

$422

4.5%

111

77

-30.6%

$4,200,000

$4,700,000

11.9%

216

191

-11.6%

96.7%

97.1%

0.4%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,305,580

Average Price per Square Foot

Highest Price

2018

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 September 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

$641,393

$690,743

7.7%

$570

$605

6.1%

58

48

-17.2%

$2,803,600

$2,750,000

-1.9%

301

293

-2.7%

98.2%

94.1%

-4.2%

7.7%

January through September 2018, the average price of condos, townhomes, and duplexes in Breckenridge/Blue River increased by 7.7% compared to that of 2017.

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FRISCO January through September

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

$818,489

25.6%

$426

$480

12.7%

37

34

-8.1%

$2,492,500

$2,300,000

-7.7%

116

127

9.5%

97.5%

98.3%

0.8%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$651,812

Average Price per Square Foot

Highest Price

2018

All Properties

FRISCO January through September

2017

2018

Average Price

$1,081,913

$1,269,119

17.3%

$406

$443

9.2%

47

45

-4.3%

$2,492,500

$2,300,000

-7.7%

23

38

65.2%

96.7%

97.4%

0.7%

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

% Change

Single Family Homes 111 Lupine Lane, Frisco

15.0%

The average price per square foot for condos, townhomes, and duplexes in Frisco increased by 15.0% January through September 2018 compared to that of 2017.

FRISCO January through September

2017

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

2018

% Change

$545,442

$626,085

14.8%

$431

$496

15.0%

34

29

-14.7%

$1,040,000

$1,338,275

28.7%

93

89

-4.3%

97.7%

98.6%

1.0%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

DILLON/SUMMIT COVE January through September Average Price

2017

$558,243

29.4%

$329

$376

14.3%

23

23

0.0%

$1,645,000

$1,555,000

-5.5%

153

123

-19.6%

98.3%

98.8%

0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$431,375

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 September Average Price

2017

$878,901

11.3%

$281

$307

9.3%

39

39

0.0%

$1,645,000

$1,555,000

-5.5%

41

39

-4.9%

97.2%

98.2%

1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$789,570

Average Price per Square Foot

Highest Price

2018

Single Family Homes 317 High Meadow Drive, Dillon

DILLON/SUMMIT COVE January through September

2017

Average Price

$300,250

$409,366

36.3%

$346

$408

17.9%

17

15

-11.8%

$660,000

$1,150,000

74.2%

112

84

-25.0%

98.6%

99.0%

0.4%

Average Price per Square Foot Average Days on Market Highest Price Properties Sold % Sold Price to List Price Condos, Townhomes, Duplexes

2018

% Change

36.3%

The average price for condos, townhomes, and duplexes in Dillon/Summit Cove increased by 36.3% January through September 2018 compared to that of 2017.

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SILVERTHORNE/WILDERNEST January through September

2017

Average Price

$677,464

10.1%

$341

$372

9.0%

45

42

-6.7%

$3,000,000

$2,765,000

-7.8%

298

269

-9.7%

98.4%

98.3%

-0.1%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$615,328

Average Price per Square Foot

Highest Price

2018

All Properties 863 Rodeo Drive, Silverthorne

10.5%

January through September 2018, the average price per square foot for single family homes in Silverthorne/Wildernest increased by 10.5% compared to that of 2017.

SILVERTHORNE/WILDERNEST January through September

2017

Average Price

$984,564

$957,230

-2.8%

$330

$365

10.5%

84

62

-26.2%

$3,000,000

$2,450,000

-18.3%

97

108

11.3%

97.3%

97.9%

0.6%

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 September

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

$437,140

$489,794

12.0%

$346

$376

8.7%

26

29

11.5%

$889,000

$2,765,000

211.0%

201

161

-19.9%

98.9%

98.6%

-0.3%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County livsothebysrealty.com

JANUARY- SEPTEMBER 2018 • COLORADOMICROREPORTS.COM

KEYSTONE January through September Average Price

2017

$642,362

17.9%

$428

$493

15.1%

61

56

-8.2%

$2,312,500

$3,050,000

31.9%

238

241

1.3%

98.0%

98.5%

0.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$544,807

Average Price per Square Foot

Highest Price

2018

All Properties 94 Aster Court, Keystone

KEYSTONE January through September Average Price

2017

$1,523,439

9.4%

$341

$378

10.8%

289

114

-60.6%

$2,312,500

$3,050,000

31.9%

15

24

60.0%

95.3%

96.3%

1.0%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$1,392,305

Average Price per Square Foot

Highest Price

2018

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

2017

2018

% Change

$487,800

$544,916

11.7%

$434

$505

16.5%

45

49

8.9%

$1,265,000

$1,300,000

2.8%

223

217

-2.7%

98.2%

98.7%

0.5%

11.7%

The average price per square foot for condos, townhomes, and duplexes in Keystone increased by 11.7% January through September 2018 compared to that of 2017.

Condos, Townhomes, Duplexes

coloradomicroreports.com

16.6%

January through September 2018, the average price in Copper Mountain increased by 16.6% compared to that of 2017.

COPPER MOUNTAIN January through September

2017

Average Price

$543,246

4.9%

$467

$544

16.6%

137

51

-62.8%

$2,800,000

$2,800,000

0.0%

86

61

-29.1%

96.9%

97.6%

0.7%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$517,970

Average Price per Square Foot

Highest Price

2018

All Properties

COPPER MOUNTAIN January through September

2017

Average Price

$2,689,250

15.9%

$576

$573

-0.5%

417

397

-4.8%

$2,800,000

$2,800,000

0.0%

4

2

-50.0%

94.0%

111%

18.5%

Average Days on Market

Properties Sold % Sold Price to List Price

% Change

$2,321,250

Average Price per Square Foot

Highest Price

2018

Single Family Homes 882 Beeler Place, Copper Mountain

COPPER MOUNTAIN January through September

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

$434,395

$470,500

8.3%

$461

$543

17.9%

124

40

-67.7%

$1,925,000

$1,167,500

-39.4%

82

59

-28.0%

97.0%

97.2%

0.2%

Condos, Townhomes, Duplexes

MICROMARKET REPORT | Summit County livsothebysrealty.com

JANUARY- SEPTEMBER 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.