23 MIDYEA R SUMMIT COUNTY
REA L ESTATE MA RKET
THE SLIFER REPORT
20
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SOURCE Soldresidential andlandpropertieswithinSummit Countyfrom January1,2023- June30,2023 Sourceof all datainthisreport is theSummit Associationof RealtorsMultipleListingService Informationdeemedreliablebut not guaranteed Consult your Slifer Smith&FramptonBroker for moreinformation
6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | MARKET SHARE LUXURY MARKET SHARE MARKET OVERVIEW TRANSACTIONS LAND OVERVIEW NEW DEVELOPMENTS BRECKENRIDGE COPPER DILLON FRISCO KEYSTONE SILVERTHORNE NOTABLE SALES
Slifer Smith & Frampton Real Estate | 2 CONTENTS
A LETTER FROM OUR PRESIDENT
We?re off to an exciting start in 2023 here in the Colorado high country, as our real estate markets continue to strengthen despite shifting national fundamentals At Slifer Smith & Frampton, we welcome this rebalancing of our market aswestrivetowardsanewand healthier normal
The key to this rebalancing has been a rise in inventory, which has increased by a modest 7%compared to this time last year. Although the gain is small, it is encouraging for buyerswho are looking to find their homes here in Summit County.It'sgreat to seeinventory moving in apositivedirection asour communitiescontinueto seek growth.Weare proud to contribute to this progress through our new development division, which is working on several exciting opportunities in Summit County, including 9097?Flats in Frisco, inhabitance in Silverthorne, and Solitude in Breckenridge Theseopportunitiesnot onlydirectly increaseinventorybut also indirectlycontributeto itsgrowth We arecommittedto continuingthisprogressfor yearsto come
On the other hand, prices remain strong across the county Contrary to some previous ominous predictions, prices have only decreased by 8%year-to-date asof the end of June, compared to the booming highsof 2022. Additionally, our sale-to-list price ratio has normalized from 102%to a still incredibly strong 98%compared to this time last year These conditions are favorable for those considering selling their homes in our communities. Meanwhile, pending sales are increasing throughout Summit County, indicating that buyers are still eager to invest in the Summit County lifestyle,despitehigher pricesand sale-to-list ratiosnearing100%.
Looking ahead to the second half of 2023, market experts, including myself, anticipate that prices will continue to stabilize in Summit County and across the nation Trends suggest that we may see a slight decline in average sales pricesin early 2024 before they begin to grow annually through 2027 Limited inventory and astrong demand for the mountainlifestyleinour communitieswill keep our marketsrobust,despiteprevailingnational challenges
At Slifer Smith & Frampton, we take pride in leading the way in Summit Country real estate, holding the number one position in brokeragesalesoverall and in theluxury market.You mayhaveheard about our recent growth,including a significant expansion last year into the Front Range market, which has helped connect our city and mountain communities like never before The strength of our network across Colorado, combined with our commitment to locally-run, locally-focused real estate, has enabled us to maintain our coveted position as the number one independent real estatecompanyinColorado
I encourage you to explore this midyear edition of The Slifer Report and to delve into the details of your specific market area If you have any questions about the data presented hereor howit relatesto your real estategoals,pleasedon't hesitateto reach out to your Slifer Smith & Frampton broker. We are here to assist you every step of theway.
CHRIS LANKHORST
Summit County Market President
WE ARE SLIFER SMITH & FRAMPTON
COLORADO'S REAL ESTATE
270+ world-class agents across Colorado
120+ dedicated & local support staff
$10B+ sales volume since 2020
#1
Colorado's leading, independent real estate company
100% Colorado owned & operated
TE COMPANY
Roaring Fork Valley 6 LOCATIONS
Vail Valley 12 LOCATIONS
Summit County 5 LOCATIONS
Front Range 5 LOCATIONS
SALES VOLUME & MARKET SHARE
RESIDENTIAL SALES VOLUME COMPARISON
SALES VOLUME COMPARISON | SSF MARKET SHARE
Real Estate | 6
Slifer Smith & Frampton
LUXURY SALES VOLUME & MARKET SHARE
Residential Sales Over $2 Million
LUXURY SALES VOLUME COMPARISON
LUXURY SALES VOLUME COMPARISON | SSF MARKET SHARE
The Slifer Report 2023 | 7
MARKET OVERVIEW
RESIDENTIAL AVERAGE SALES PRICE COMPARISON
RESIDENTIAL & LAND ACTIVE INVENTORY BY MONTH
&
Real Estate | 8
Slifer Smith
Frampton
TRANSACTION COMPARISON
RESIDENTIAL TRANSACTION COMPARISON
LUXURY TRANSACTION COMPARISON
Residential Sales Over $2 Million
The Slifer Report 2023 | 9
LAND OVERVIEW
LAND TRANSACTION COMPARISON
LAND SALES VOLUME COMPARISON
Slifer Smith &
Real Estate | 10
Frampton
BRECKENRIDGE
Slifer Smith & Frampton Real Estate | 12
SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $193,791,232 116 86 $1,670,614 $1,312,500 2020 $143,319,409 101 79 $1,419,004 $1,200,000 2021 $322,249,440 162 46 $1,989,194 $1,547,750 2022 $269,027,927 111 20 $2,423,675 $2,070,000 2023 $151,406,977 70 74 $2,162,957 $1,962,500 CONDOMINIUM & TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $74,163,520 113 53 $656,314 $586,100 2020 $68,717,149 99 53 $694,113 $625,000 2021 $149,987,700 175 34 $857,073 $740,000 2022 $94,120,049 92 18 $1,023,044 $817,500 2023 $91,335,829 84 56 $1,087,331 $883,000
AVERAGE PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $475 $499 $622 $782 $708 Condominium & Townhome $681 $660 $818 $1,070 $976 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 97% Condominium & Townhome 98% RESIDENTIAL SALES VOLUME COMPARISON VS 2022 5% Decreasein mediansoldprice -SF/Duplex 6% Increasein averagesoldprice -Condo/TH
AREA highlights
The Slifer Report 2023 | 13 COPPER SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $6,430,000 2 385 $3,215,000 $3,215,000 2020 $3,600,000 1 189 $3,600,000 $3,600,000 2021 $3,850,000 1 4 $3,850,000 $3,850,000 2022 $17,481 074 5 12 $3,496,215 $3,300,000 2023 $9,700,000 3 27 $3,233,333 $3,175,000 CONDOMINIUM & TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $13,420,820 23 61 $583,514 $515,000 2020 $10,646,378 20 82 $532,319 $509,950 2021 $41,286,542 56 14 $743,367 $692,500 2022 $25,351,862 34 16 $745,643 $725,000 2023 $19,344,089 25 42 $773,764 $894,000 AVERAGE PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $547 $563 $605 $814 $808 Condominium & Townhome $541 $580 $705 $867 $919 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 97% Condominium & Townhome 98% RESIDENTIAL SALES VOLUME COMPARISON AREA highlights VS 2022 6% Increasein averageprice per Sq.Ft. -Condo/TH 1% Decreasein averageprice per Sq Ft -SF/Duplex
Slifer Smith & Frampton Real Estate | 14 DILLON SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $23,520,285 28 56 $840,010 697,393 2020 $11,941,225 13 69 $918,556 $815,000 2021 $43,054,400 36 10 $1,195,956 $1,145,000 2022 $25,129,000 19 9 $1,322,579 $1,200,000 2023 $36,985,000 25 25 $1,479,400 $1,350,000
& TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $24,064,205 62 26 $388,132 $337,500 2020 $11,611,436 29 52 $400,394 $350,000 2021 $32,871,900 58 8 $566,757 $474,500 2022 $28,808,082 42 5 $685,907 $592,500 2023 $21,453,303 34 25 $630,980 $560,750
PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $334 $329 $480 $576 $586 Condominium & Townhome $443 $444 $568 $739 $724 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 98% Condominium & Townhome 99%
12% Increasein averagesoldprice -SF/Duplex 2% Increasein averageprice per Sq Ft -SF/Duplex
CONDOMINIUM
AVERAGE
RESIDENTIAL SALES VOLUME COMPARISON VS 2022
AREA highlights
The Slifer Report 2023 | 15 FRISCO SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $17,648,100 17 65 $1,038,124 $970,000 2020 $12,765,246 13 47 $981,942 $1,050,000 2021 $38,408,500 24 11 $1,600,354 $1,461,000 2022 $29,137,500 14 30 $2,081,250 $1,983,750 2023 $25,303,500 14 42 $1,807,393 $1,685,000 CONDOMINIUM & TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $28,449,331 52 30 $547,103 $494,000 2020 $23,408,004 34 25 $688,471 $609,000 2021 $40,679,049 54 5 $753,316 $704,661 2022 $49,909,614 46 4 $1,084,992 $980,000 2023 $35,817,000 33 24 $1,085,364 $999,000 AVERAGE PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $443 $486 $597 $794 $704 Condominium & Townhome $530 $564 $660 $834 $836 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 99% Condominium & Townhome 98% RESIDENTIAL SALES VOLUME COMPARISON AREA highlights VS 2022 0.3% Increasein averagesold price -Condo/TH SAME Number of salesas last year -SF/Duplex
Slifer Smith & Frampton Real Estate | 16 KEYSTONE SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $18,007,457 12 147 $1,500,621 $1,320,000 2020 $11,049,500 10 111 $1,104,950 $1,086,250 2021 $30,905,000 18 42 $1,716,944 $1,462,500 2022 $35,110,145 15 22 $2,340,676 $2,300,000 2023 $24,257,500 10 71 $2,425,750 $2,200,000 CONDOMINIUM & TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $61,127,362 103 47 $593,470 $540,000 2020 $27,932,049 48 93 $581,918 $553,500 2021 $94,315,929 151 53 $624,609 $600,000 2022 $95,653,629 111 10 $861,744 $789,900 2023 $45,902,225 50 41 $918,045 $842,650 AVERAGE PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $371 $357 $524 $713 $742 Condominium & Townhome $518 $524 $636 $821 $881 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 97% Condominium & Townhome 96% RESIDENTIAL SALES VOLUME COMPARISON VS 2022 4% Increasein averagesoldprice -SF/Duplex 7% Increasein averagesold price -Condo/TH AREA highlights
The Slifer Report 2023 | 17 SILVERTHORNE SINGLE FAMILY & DUPLEX SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $17,648,100 17 65 $1,038,124 $970,000 2020 $12,765,246 13 47 $981,942 $1,050,000 2021 $139,506,831 102 21 $1,367,714 $1,293,495 2022 $146,407,687 81 37 $1,807,502 $1,615,000 2023 $107,350,529 71 44 $1,511,979 $1,544,201 CONDOMINIUM & TOWNHOME SALES VOLUME NO OF SALES AVG DAYS ON MARKET AVG SALE MEDIAN SALE 2019 $35,758,345 83 26 $430,823 $390,000 2020 $40,882,864 84 57 $486,701 $432,500 2021 $69,232,776 124 39 $558,329 $541,000 2022 $48,316,453 65 8 $743,330 $705,000 2023 $76,579,383 97 26 $789,478 $710,000 AVERAGE PRICE PER SQUARE FOOT SALE VS. LIST PRICE COMPARISON 2019 2020 2021 2022 2023 Single Family & Duplex $373 $406 $517 $585 $627 Condominium & Townhome $416 $459 $501 $725 $657 AVERAGE SALE / LAST LISTED PRICE Single Family & Duplex 99% Condominium & Townhome 99% RESIDENTIAL SALES VOLUME COMPARISON AREA highlights VS 2022 7% Increasein averageprice per Sq.Ft. -SF/Duplex 6% Increasein averagesold price -Condo/TH
2023 NOTABLE SALES
As a founding member Slifer Smith & Frampton is proud to fly the Forbes Global Properties flag across Colorado This powerful, global network of top-tier independent brokerages gives our agents, and our clients, exclusive access to an invaluable network of the world's finest homes and the agents representing them.
In 20 23 our membership with Forbes Global Properties brought some incredible Summit County homes to a global audience. Here are some of our most notable sales of the year.
BRECKENRIDGE | $5,400,000
Real Estate | 18
Slifer Smith & Frampton
WESTERN
Seller
636
SKY DRIVE Represented
Seller
KEYSTONE | $2,150,000 714 INDEPENDENCE ROAD, 714 Represented
LINDSTROM
Buyer & Seller
SILVERTHORNE | $2,690,000 918
ROAD Represented
WATER DANCE
Buyer
FRISCO | $2,207,500 590
DRIVE Represented
& Seller
SILVERTHORNE | $2,695,000 200 EASY BEND TRAIL Represented Buyer & Seller
BRECKENRIDGE | $2,300,000
23 NORTH ROAD
Represented Seller
DILLON | $1,925,000
125 SNOWBERRY WAY
Represented Seller
BRECKENRIDGE | $3,700,000
214 ROYAL TIGER ROAD
Represented Buyer & Seller
BRECKENRIDGE | $3,000,000
42 SNOWFLAKE DRIVE, 502
Represented Seller
BRECKENRIDGE | $3,250,000
102 S FRENCH STREET
Represented Buyer & Seller
View incredible properties from around the world anytime at:
ForbesGlobalProperties com
BRECKENRIDGE | $3,000,000
205 S GOLD FLAKE
Represented Buyer & Seller
The Slifer Report 2023 | 19
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