The Slifer Report Q1 2022 - Summit County

THE SLIFER REPORT Q1 2022 SUMMIT COUNTY | Quarterly Real Estate Market Review

THE SLIFER REPORT Q1 2022

TABLE OF CONTENTS PAGE 3 -

SSF Summit County Market Share

PAGE 4 -

Summit County Overview

PAGE 5 -

Summit County Overview

PAGE 6 -

Luxury Market Overview

PAGE 7 -

Luxury Market Overview

PAGE 8 -

Land Overview

PAGE 9 -

Summit County Area Overview

PAGE 10 - Development spotlight PAGE 11 -

Summit County Notable Solds

PAGE 12 - Breckenridge PAGE 13 - Copper Mountain PAGE 14 - Dillon PAGE 15 - Frisco PAGE 16 - Keystone PAGE 17 - Silverthorne PAGE 18 - Forbes Global Properties PAGE 19 - Leading Real Estate Companies of the World

LOCAL BRAND, LOCAL LEADERS SUMMIT COUNTY Q1 MARKET SHARE $110 $100

16%

$90 $80

MILLIONS

$70 $60 $50 $40 $30 $20 $10

Sl ife r

Sm

ith

Re /

&

M

Fr

Li

v

am

So

th

pt on

rt pe Pr o ax

$127.3

R.

eb y's

ie

E. As

ge Br ec ke n

rid

$96.1 M

E.

$83.6

R. so

ci

eX p

at es

Re a

s m ill rW le

$61.4 M

s

$33.6M

Ke l

ke r an lB dw el Co l

ia

M

RE e to n rs ne Co r

$30.7 M

lty

$28.9 M

P

$12.3 M

0

Closest Competitors

Sold residential and land properties within Summit County, counting both listing and buy sides, from January 1, 2022 – March 31, 2022.

Source of all data in this report is the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed. Consult your Slifer Smith & Frampton Broker for more information. ©2022 Slifer Smith & Frampton Real Estate

59+

BROKERS

25+

SUPPORT STAFF

Q1 2022 SLIFER REPORT

4

SALES LOCATIONS

Q1 2022 SUMMIT COUNTY OVERVIEW TRANSACTION VOLUME COMPARISON 500

NO. OF TRANSACTIONS

450

453

400 363

350 300

307

313

2015

2016

349 297

288

2019

2020

276

305

250 200 150 100 50 0 2014

2017

2018

2021

2022

SALES VOLUME COMPARISON $450M $400M $350M

$250M $200M $150M

$256.1M

$237.3M

$242.4M

$233.6M

$418.4M

$403.2M

0

$189.0M

$50M

$162.5M

$100M $148.4M

MILLIONS

$300M

2014

2015

2016

2017

2018

2019

2020

2021

2022

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

Q1 2022 SUMMIT COUNTY OVERVIEW RESIDENTIAL AVERAGE SALES PRICE COMPARISON $1.4M

$1,383,773

AVERAGE SALES PRICE

$1.3M $1.2M $1.1M $1M

$995,962

$0.9M

$856,840 $852,767

$0.8M $734,207 $731,700

$0.7M $0.6M

$615,060 $551,971 $556,665

$0.5M 2014

2015

2016

2017

2018

2019

2020

2021

2022

1,800 1,600 1,400 1,200 1,000 800 600 400 200 0 A p A ru 1 D g- 4 e 1 A c- 4 p A r - 14 u 1 D g- 5 A ec 15 pr A il - 15 u 1 D g- 6 A ec 16 p A ril - 16 u 1 D g- 7 e 1 A c- 7 p A r - 17 u 1 D g- 8 e 1 A c- 7 p A r - 17 ug 1 D - 8 ec 18 A A pr 18 u -1 D g- 9 e A c 19 pr - 1 A - 9 u 2 D g- 0 ec 2 A - 0 p 2 A ril 0 ug -2 D - 1 e A c - 21 pr 2 il- 1 22

RESIDENTIAL AND LAND INVENTORY

ACTIVE INVENTORY BY MONTH

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

Q1 2022 SUMMIT COUNTY LUXURY MARKET OVERVIEW

NO. OF TRANSACTIONS

TRANSACTION VOLUME COMPARISON - RESIDENTIAL OVER $2 MILLION YTD 60 55 50 45 40 35 30 25 20 15 10 5 0

56

36

20

18

4

5

6

2014

2015

2016

16 7

2017

2018

2019

2020

2021

2022

SALES VOLUME COMPARISON - RESIDENTIAL OVER $2 MILLION YTD $180M $160M

MILLIONS

$140M $120M $100M $80M $60M $40M $20M 0

11.7M

13.4M

18.1M

48.3M

17.6M

56.7M

44.3M

111.5M

180M

2014

2015

2016

2017

2018

2019

2020

2021

2022

*Data gathered is from Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

Q1 2022 SUMMIT COUNTY LUXURY MARKET SHARE

SUMMIT COUNTY LUXURY MARKET SHARE RESIDENTIAL & LAND SALES VOLUME

$60 $55 $50 $45

MILLIONS

$40 $35 $30 $25 $20 $15 $10 $5

v

…

R

Fr am

So

er Pr op ax

Sl

ife

rS

m ith

R e/

&

M

$53.1 M

pt on

th eb y' s

s tie

R at es ci

48.4 M

Li

s ss o A ge

B

re c

ke n

rid

48.1 M

…

35.1 M

m ia rW ill

le

ne C or

Ke l

ke r an lB

w el

10.9 M

R

M

as m Th o & C ol d

fr at h Pa f

10 M

E

8.8 M

P

5.3 M

rs to ne

0

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Sold residential and land properties within Summit County $2M+, counting both listing and buy sides.

Q1 2022 SLIFER REPORT

Q1 2022 SUMMIT COUNTY LAND OVERVIEW LAND TRANSACTION VOLUME COMPARISON 55

NO. OF TRANSACTIONS

50

50

48

45 40 35

33

31

30

26

25 20

18

26

24

16

15 10 5 0 2014

2015

2016

2017

2018

2019

2020

2021

2022

LAND SALES VOLUME COMPARISON $18M $16M $14M

$10M $8M $6M

$12.4M

$17.1M

$10.2M

$8.5M

$17M

$17.1M

0

$4.7M

$2M

$8.7M

$4M $6.7M

MILLIONS

$12M

2014

2015

2016

2017

2018

2019

2020

2021

2022

*Data gathered is from Land sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

Q1 2022 SUMMIT COUNTY AREA OVERVIEW SALES VOLUME COMPARISON - RESIDENTIAL & LAND BRECKENRIDGE

COPPER 20

40 0

$164M

80

$200.4M

120

2020

2021

2022

MILLIONS

16

160

$132.3M

12 8 4 0

$6.1M 2020

28

35

24

30

20

25

MILLIONS

FRISCO

16 12 8 4 $11.7M 2020

$25M 2021

$21.4M 2022

10 0

60

100

50

80

40 30 20 10 $19.6M 2020

$21.4M 2020

SILVERTHORNE

MILLIONS

MILLIONS

$34.9M 2022

15 5

KEYSTONE

0

$31.6M 2021

20

$49.3M 2021

$57.3M 2022

60 40 $106.1M

0

$19.4M 2022

$88M

MILLIONS

DILLON

$24.1M 2021

$42.6M

MILLIONS

200

2020

2021

2022

20 0

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

6Billion+

$

Historic Sales Volume As of the first quarter of 2022 our development division has sold over six billion dollars of real estate.*

573Million+

$

Q1 2022 Pending Sales Volume But we didn’t stop there, as of March 31, 2022 our teams have $573,164,947 of sales closing soon. *

NEW DEVELOPMENT PROJECTS ACROSS COLORADO

AURA | Snowmass

LEGACY AT VAIL SQUARE | Lionshead

AuraSnowmass.com

LegacyVail.com

SUMMIT BLUE | Silverthorne

THE ARBORY | Denver

LiveSummitBlue.com

ArboryDenver.com

The latest and most exclusive ski-in, ski-out residences in Snowmass Base Village. There is no better setting for a legacy home in Snowmass.

21 exquisite 4 and 5-bedroom residences.

Phased release of Townhomes and Single Family homes along the Blue River, steps away from vibrant, downtown Silverthorne.

Future phases coming soon.

Luxury residences in Vail’s Lionshead Village and steps away from the gondola are the very last of their kind.

2 to 4-bedroom residences.

Nestled in Denver’s vibrant and historic City Park West neighborhood, these bespoke residences are not just built, but crafted.

1 and 2-bedroom layouts available.

We are proud to be the only brokerage in Colorado with a full division dedicated to bringing new developments to market. Our end to end service has delivered another record year in 2021, creating more new homes in our communities than ever before. *Pending and closed sales volume through 3.31.22

To learn more, visit SliferDevelopmentSales.com >>>

Q1 2022

SLIFER SMITH & FRAMPTON’S

NOTABLE SALES IN SUMMIT COUNTY

Eagles Nest Golf Course Sub | detnsrpR eht Serel

eK ystone West Ranch Sub | detnsrpR eht Serel

Boulder Ridge III | detnsrpR eht Serel

Snider Addition Sub | detnsrpR eht Serel

Lewis Ranch at Copper Mountain | detnsrpR eht Serel

Ruby Ranch Sub |

Reserve at Frisco |

detnsrpR eht Serel detnsrpR eht Serel

BRECKENRIDGE SINGLE-FAMILY/DUPLEX

51% increase in average sale price from 2021 (Single-Family/Duplex)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$50,998,387

43

113

$1,186,009

$945,000

20

2019

$84,348,167

53

111

$1,591,475

$1,270,000

33

2020

$83,866,269

56

98

$1,497,612

$1,276,750

33

2021

$131,483,236

75

69

$1,753,110

$1,532,000

51

2022

$111,028,348

42

31

$2,643,532

$2,028,500

42

CONDOMINIUM/TOWNHOME

50% decrease in average days on market compared to 2021 (Condominium/TH)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$42,829,556

67

55

$639,158

$592,500

8

2019

$24,212,907

38

58

$637,182

$637,500

4

2020

$40,458,920

63

51

$642,205

$597,500

8

2021

$59,732,941

74

46

$807,202

$730,000

19

2022

$41,015,650

44

23

$932,174

$720,500

15

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

2018

2019

2020

2021

2022

$411

$481

$518

$573

$772.90

CONDOMINIUM/TOWNHOME AVG.

2018

2019

2020

2021

2022

$577

$637

$679

$759

$992.43

LAND SALES NO. OF SALES

SALES VOLUME

AVG. SALE

19

$11,590,080

$610,004

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

COPPER SINGLE-FAMILY/DUPLEX

87%

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

increase in sales volume compared

2018

$0

0

N/A

N/A

N/A

0

2019

$3,380,000

1

550

$3,380,000

$3,380,000

1

2020

$0

0

N/A

N/A

N/A

0

to 2021

2021

$3,850,000

1

4

$3,850,000

$3,850,000

1

(Single-Family/Duplex)

2022

$7,200,000

2

18

$3,600,000

$3,600,000

2

CONDOMINIUM/TOWNHOME

14% decrease in average days on market compared to 2021 (Condominium/TH)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$5,329,000

12

35

$444,083

$395,250

0

2019

$4,360,000

8

94

$545,000

$470,750

1

2020

$6,053,400

12

90

$504,450

$495,000

0

2021

$18,938,521

26

7

$728,405

$637,561

4

2022

$10,346,000

14

6

$739,000

$725,000

0

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

2018

2019

2020

2021

2022

N/A

$576

N/A

$605

$767.84

CONDOMINIUM/TOWNHOME AVG.

2018

2019

2020

2021

2022

$531

$556

$594

$711

$880.94

LAND SALES NO. OF SALES

SALES VOLUME

AVG. SALE

2

$1,835,000

$917,500

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

DILLON SINGLE-FAMILY/DUPLEX

10%

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

increase in average sale price compared to 2021

2018

$7,706,000

10

51

$770,600

$770,250

1

2019

$10,611,285

14

68

$757,949

$687,643

3

2020

$5,086,025

6

76

$847,788

$825,113

1

2021

$14,881,000

11

11

$1,352,518

$1,376,000

9

(Single-Family/Duplex)

2022

$10,379,000

7

21

$1,482,714

$1,200,000

6

CONDOMINIUM/TOWNHOME

70% decrease in average days on market from 2021 (Condominium/TH)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$4,763,400

14

20

$340,243

$290,000

0

2019

$6,814,900

17

24

$400,876

$359,000

0

2020

$6,077,036

14

40

$434,074

$434,919

0

2021

$10,141,500

18

10

$563,417

$435,500

1

2022

$9,362,305

16

3

$585,144

$522,500

2

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

2018

2019

2020

2021

2022

$291

$333

$303

$412

$522

CONDOMINIUM/TOWNHOME AVG.

2018

2019

2020

2021

2022

$406

$436

$443

$512

$730

LAND SALES NO. OF SALES

SALES VOLUME

AVG. SALE

2

$1,700,000

$850,000

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

FRISCO SINGLE-FAMILY/DUPLEX

42% increase in average sale price from 2021 (Single-Family/Duplex)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$11,202,000

11

68

$1,018,364

$955,000

4

2019

$6,100,000

6

88

$1,016,667

$857,500

2

2020

$9,854,246

10

49

$985,425

$1,075,000

6

2021

$17,668,000

11

9

$1,606,182

$1,422,000

9

2022

$13,687,500

6

47

$2,281,250

$2,050,000

6

CONDOMINIUM/TOWNHOME

71% increase in sales volume from 2021 (Condominium/TH)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$7,802,990

14

29

$557,350

$511,250

0

2019

$10,727,274

23

38

$466,403

$403,277

2

2020

$11,364,000

15

18

$757,600

$648,000

3

2021

12,415,628

19

5

$653,454

$705,000

0

2022

$21,224,580

16

3

$1,326,536

$1,232,975

9

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

CONDOMINIUM/TOWNHOME

2018

2019

2020

2021

2022

$455

$412

$472

$602

$643.33

AVG.

2018

2019

2020

2021

2022

$487

$537

$568

$616

$820.72

LAND SALES NO. OF SALES

SALES VOLUME

AVG. SALE

0

N/A

N/A

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

KEYSTONE SINGLE-FAMILY/DUPLEX

59% decrease in average days on market compared to 2021

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$8,137,500

7

149

$1,162,500

$1,165,000

5

2019

$12,278,457

7

136

$1,754,065

$1,400,000

5

2020

$5,552,000

5

111

$1,110,400

$1,075,000

4

2021

$16,035,000

9

69

$1,781,667

$1,370,000

6

2022

$13,985,145

7

39

$1,997,878

$1,616,700

6

(Single-Family/Duplex)

34%

CONDOMINIUM/TOWNHOME

increase in sales volume compared to 2021 (Condominium/TH)

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$40,776,450

67

41

$608,604

$525,000

2

2019

$30,485,362

46

62

$662,725

$597,000

5

2020

$13,775,500

27

115

$510,204

$480,000

0

2021

$31,514,712

60

97

$525,245

$467,000

0

2022

$42,254,563

55

10

$768,265

$700,000

7

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

2018

2019

2020

2021

2022

$351

$397

$338

$520

$624.89

CONDOMINIUM/TOWNHOME AVG.

2018

2019

2020

2021

2022

$501

$506

$555

$621

$736.24

LAND SALES NO. OF SALES

SALES VOLUME

AVG.SALE

1

$1,062,000

$1,062,000

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

SILVERTHORNE SINGLE-FAMILY/DUPLEX

71%

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

2018

$32,872,337

35

67

$939,210

$935,000

14

increase in sales volume compared

2019

$22,155,500

21

53

$1,055,024

$900,000

7

2020

$31,715,439

30

91

$1,057,181

$1,022,248

16

to 2021

2021

$51,953,593

39

20

$1,332,143

$1,284,000

28

(Single-Family/Duplex)

2022

$88,735,683

45

50

$1,971,904

$1,850,000

33

CONDOMINIUM/TOWNHOME

89%

SALES VOLUME

NO. OF SALES

AVG. DAYS ON MARKET

AVG. SALE

MEDIAN SALE

$1,000,000 PLUS SALES

decrease in average days

2017

$12,372,400

33

38

$374,921

$305,000

0

on market from 2021

2018

$7,116,200

19

22

$374,537

$365,000

0

2019

$14,217,195

34

27

$418,153

$387,500

0

2020

$10,198,000

24

54

$424,917

$362,500

0

2021

$32,358,432

59

67

$548,448

$525,000

0

2022

$16,453,780

24

8

$685,574

$687,540

3

(Condominium/TH)

PRICE PER SQUARE FOOT COMPARISON SINGLE-FAMILY/DUPLEX AVG.

2018

2019

2020

2021

2022

$365

$359

$415

$495

$573.08

CONDOMINIUM/TOWNHOME AVG.

2018

2019

2020

2021

2022

$386

$404

$479

$465

$710.29

LAND SALES NO. OF SALES

SALES VOLUME

AVG. SALE

2

$926,000

$463,000

*Data gathered is from Land and Residential sales from January 1 through March 31 of each year.

Q1 2022 SLIFER REPORT

FROM ASPEN TO DENVER AND AROUND THE WORLD

FORBES GLOBAL PROPERTIES IN 2021

1 of 10

135

FOUNDING MEMBERS

WORLD-WIDE LOCATIONS

2,400

2,855

LUXURY EXPERTS

LUXURY LISTINGS FEATURED

WOLCOT T

70

GYPSUM

EDWARDS

TO DENVER >> 70

E AGLE

EAGLE COUNT Y AIRPORT

CORDILLERA

VAIL

AVON

ARROWHEAD

EAGLEVAIL

70

BACHELOR GULCH << TO GRAND JUNCTION

DOWNTOWN DENVER

70

BEAVER CREEK

SILVERTHORNE KEYSTONE RESORT

VAIL SKI RESORT

KEYSTONE

MINTURN

FRISCO

BEAVER CREEK SKI RESORT

70

GLENWOOD SPRINGS

NORTH COPPER MOUNTAIN BRECKENRIDGE SKI RESORT

BRECKENRIDGE

82

EL JEBEL CARBONDAL E WILLITS

BASALT

82

WOODY CREEK

SNOWMASS VILLAGE SNOWMASS SKI RESORT

ASPEN BUTTERMILK MTN ASPEN HIGHLANDS

Forb esGlobalProp er ties.com >>>

ASPEN SKI RESORT

Established in 2020 with 10 founding members, the invitation-only network now spans 135 locations and comprises approximately 2,400 luxury property experts across the U.S., Asia, Australia, Canada, Mexico, the Middle East, and Europe. More than 100 million monthly visitors to forbes.com enjoy unrivaled access to an elite collection of properties presented within the hallmark context of trusted editorial content and timely market data.

LOCAL COMPANY GLOBAL REACH In addition to our presence as a founding member of Forbes Global Properties, we have access to several other leading industry networks via our international partners that give your property exposure to a global audience.

Leading Real Estate Companies of the World® Leading RE has connections in all corners of the world—extending membership only to firms that are leaders in their markets and demonstrate shared values like local insight, global worldview, trusted experience and high performance.

Luxury Portfolio International® Spanning six continents and over 800 major cities from Bangkok to Barcelona, Luxury Portfolio International’s relationships generate thousands of client introductions and sales annually. In the U.S. alone, luxuryportfolio.com curates more properties priced over $1 million than any other luxury property website.