Summit County 2017 Six-Month Slifer Report

T HE SLIFER R EPORT SUMMIT COUNT Y REAL ESTATE 2017 SIX-MONTH MARKET REVIEW

S UM M I T C OUN TYREALESTATE.COM

TA B L E O F C O N T E N T S Introduction............................................................3 SSF Summit County Offices....................................4 Overall Market Share..............................................5 Summit County Overview....................................6-7 The Luxury Market...............................................8-9 Land Overview...................................................... 10 Sales Volume by Area........................................... 11

>>> Breckenridge......................................................... 12 Copper Mountain................................................. 13 Dillon..................................................................... 14 Frisco..................................................................... 15 Keystone............................................................... 16 Silverthorne........................................................... 17

T

he Summit County real estate market is healthy and continues to follow a trajectory of growth in 2017. From January to June, there were 820 residential closings totaling $582 million in sales volume. This represents a 13% increase in transactions and a 35% climb in sales volume compared to last year.

With demand remaining steady and inventory still low in most segments of the market, we expect to experience similar upward momentum in the second half of the year. The luxury segment of the market is showing strength with 146 sales over $1,000,000 year-to-date, which has nearly doubled the pace of 2016 sales.

For the third year in a row, Slifer Smith & Frampton Real Estate has the most overall market share of any real estate company in Summit County, outpacing our closest competitor by over $100 million in sales volume. Our team of 45 full-time brokers also leads in the luxury home market with 24% of the total market counting both list and sell sides.

We are proud of these achievements, as they are a result of helping our clients successfully fulďŹ ll their dreams of ownership in the Colorado high county.

We hope you enjoy reviewing this comprehensive real estate market report and that it will prove to be of value, especially if you are considering buying or selling over the coming year. Please contact your Slifer Smith & Frampton Real Estate broker for more information or stop by one of our four convenient ofďŹ ce locations in Summit County.

Thank you for looking to Slifer Smith & Frampton Real Estate for your real estate needs.

Best Regards,

John P feiffer John Pfeiffer President & Managing Broker Slifer Smith & Frampton Real Estate

*

*

Data gathered from the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed.

Data gathered from the Summit Association of Realtors Multiple Listing Service. Information is deemed reliable but not guaranteed.

Cover photo courtesy of Jeff Andrew | Vail Resorts

SLIFER SMITH & FR AMP TON RE AL ESTATE OFFICES FOR FURTHER REAL ESTATE MARKET INFORMATION, PLEASE VISIT US AT THE FOLLOWING LOCATIONS THROUGHOUT SUMMIT COUNTY: To Kremmling

9

BRECKENRIDGE 117 SOUTH MAIN STREET P.O. Box 959 Breckenridge, CO 80424 Phone: (970)453-9090

G

O

211 NORTH MAIN STREET P.O. Box 8740 Breckenridge, CO 80424 Phone: (970)547-6000

RE

RA

N

G

9

E To Denver

70

Arapahoe Basin

Silverthorne

FRISCO - SILVERTHORNE 400 MAIN STREET, FRISCO P.O. Box 2314 Frisco, CO 80443 Phone: (970)668-1550

6

Keystone Montezuma

Frisco To Vail & Grand Junction

9

Breckenridge

T E N M IL E RANG E

70

Copper Mountain

DILLON - KEYSTONE KEYSTONE RESORT, RIVER RUN VILLAGE 0140 Ida Belle Drive F-12 P.O. Box 38-K61 Keystone, CO 80435 Phone: (970)496-4522

91

Blue River 9

To Leadville To Fairplay

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 4

S U M M I T C O U N T Y OV E R A L L M A R K E T S H A R E

$267

M

$250.0

$200.0

$163M

$150.0

$86M

$54M

$52M

$50.0

$40M

X A /M RE

EB LI Y’ V S

SSF

A

SO TH

O BR C E IA C TE K S SS

CO L BA DW N EL KE L R

PA TH FFR O AT M H A S &

W

SU CO M LO M IT R A CO D O UN R TY E

$12.4M

K IL EL LI LE AM R S

MILLIONS

$100.0

$0.0

$108M

$103M

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 5

S U M M I T C O U N T Y OV E R V I E W RESIDENTIAL TRANSACTION VOLUME COMPARISON 800

820

700

694

727

NUMBER OF TRANSACTIONS

600 500

576

580

2013

2014

505

400

427

400

300 200 100 0

2010

2011

2012

2015

2016

2017

RESIDENTIAL SALES VOLUME COMPARISON $600.0 581.9

$

431.1

$

$400.0 382.1

$

307.4

$

289.8

$

264.4

$

244.8

$

MILLIONS

$200.0

$0.0

2010

233.9

$

2011

2012

2013

2014

2015

2016

2017

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 6

S U M M I T C O U N T Y OV E R V I E W RESIDENTIAL AVERAGE SALES PRICE HISTORY $750,000 718,214

$

$700,000

$650,000 603,743

$

590,367

$

$600,000

554,555

$

540,313

$

542,657

$

$550,000

527,718

$

510,468

$

$500,000

2010

2011

2012

2013

2014

2015

2016

2017

ACTIVE INVENTORY BY MONTH 3000 2,452

2500 2,218

2000 1,683

1,679

1,837 1,657

1500

1,517

1,269

1,348 1,213

1000

951 1,001

838

‘1 7 Ja n

Ju l‘ 16

‘1 6 Ja n

Ju l‘ 15

‘1 5 Ja n

Ju l‘ 14

‘1 4 Ja n

Ju l‘ 13

‘1 3 Ja n

Ju l‘ 12

‘1 2 Ja n

Ju l‘ 11

‘1 1 Ja n

Ju l‘ 10

‘1 0

500

Ju l‘ 17

551

712 Ja n

NUMBER OF RESIDENTIAL & LAND PROPERTIES LISTED

1,963

*Inventory data taken on the 1st of the month and includes residential and land properties only. Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 7

TRANSACTION VOLUME COMPARISON$1M+ RESIDENTIAL SALES YEAR TO DATE (JANUARY-JUNE) NUMBER OF TRANSACTIONS

150 145

100 77

73

50

60 46

0

2010

2011

52

58

40

2012

2013

2014

2015

2016

2017

SALES VOLUME COMPARISON$1M+ RESIDENTIAL SALES YEAR TO DATE (JANUARY-JUNE) $300.0

$244.5M

MILLIONS

$200.0

$100.0 $92M

$0.0

2010

$71.9M

2011

$61.7M

2012

$79.3M

2013

$124.3M

$132.5M

2015

2016

$89.7M

2014

2017

SUMMITCOUNTYLUXURYCOLLECTION.COM Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 8

SUMMIT COUNT Y LUXURY MARKET SHARE $125

M

$100.0

$80.0

$65M

$62M

$60.0

$55M $46M

$40.0

$22M

$20.0 $13M

A

S EB Y’ SO TH V

SSF

LI

SS

O BR C E IA C TE K S

X A /M RE

CO L BA DW N EL KE L R

&

PA TH FFR O AT M H A S

$12.4M

SU CO M LO M IT R A CO D O UN R TY E

$0.0

C RE AR A L BO ES NA TA TE TE

MILLIONS

$30M

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 9

SUMMIT COUNT Y L AND OVERVIEW TRANSACTION VOLUME COMPARISON LAND SALES YEAR TO DATE (JANUARY-JUNE) 80 74 67

NUMBER OF TRANSACTIONS

60 53

50 45

45

40 38 32

20

0

2010

2011

2012

2013

2014

2015

2016

2017

SALES VOLUME COMPARISON LAND SALES YEAR TO DATE (JANUARY-JUNE) $40.0 36.1M

$

$30.0

22.9M

$

$20.0 18.4M

$

14.8M

$

MILLIONS

$10.0

$0.0

12.1M

$

2010

2011

13.7M

$

2012

17.4M

$

13.5M

$

2013

2014

2015

2016

2017

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 10

SALES VOLUME BY AREA

RESIDENTIAL AND L AND (JANUARY-JUNE) BRECKENRIDGE

DILLON

$400.0

$40.0 $ $

$0.0

$

235

2015

$

$

2016

2017

KEYSTONE

$0.0

2015

2016

83.4

2017

$

50.8

2015

$

48.5

2016

2017

FRISCO

$

$0.0

13

2015

$

14.4

2016

2017

SILVERTHORNE

$60.0

$100.0 $ $

46.5

$

44.8

$

45.5

$

72.4

$

77.4

87.1

$50.0

MILLIONS

$30.0

MILLIONS

33.4

$20.0 $

MILLIONS

$50.0

$0.0

35.5

31.1

$40.0 $

MILLIONS

$

COPPER

$100.0

$0.0

37.4

$20.0

228.6

MILLIONS

MILLIONS

$200.0

319.9

2015

2016

2017

$0.0

2015

2016

2017

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 11

BRECKENRIDGE

29.4%

S I N G L E - FA M I LY/ D U P L E X

INCREASE IN HOMES SOLD (2016-2017)

55.9%

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$109,766,196

130

269

$620,000

2014

$113,181,843

119

211

$765,000

2015

$126,978,276

120

250

$757,250

2016

$141,689,983

126

190

$832,500

2017

$214,355,945

163

124

$1,056,500

CONDOMINIUM/ TOWNHOME

LESS TIME SPENT ON THE MARKET (COMPARED TO 2016 AVERAGE)

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$57,956,099

130

212

$403,000

2014

$66,209,906

140

222

2015

$78,092,030

148

174

$425,090

2016

$74,937,999

150

118

$396,450

2017

$85,690,572

152

52

$436,000

$409,950

90.84%

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

CONDOMINIUM/ TOWNHOME

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

$283

$317

$342

$353

$415 AVERAGE:

$425

$432

$463

$492

$595

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

97.01%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

98.11%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 12

COPPER S I N G L E - FA M I LY/ D U P L E X SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$1,750,000

1

1116

$1,750,000

2014

$0

0

n/a

n/a

2015

$0

0

n/a

n/a

2016

$0

0

n/a

n/a

2017

$10,850,000

5

333

$1,925,000

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$6,862,400

22

270

$280,000

2014

$11,253,750

30

307

$337,500

2015

$12,583,250

38

420

$312,500

2016

$14,417,500

39

226

$366,000

2017

$22,558,000

54

117

$367,000

100% ALL SINGLE FAMILY HOMES SOLD SO FAR IN 2017 WERE PRICED $1M+

CONDOMINIUM/ TOWNHOME

70% INCREASE IN # OF SALES (OVER THE 20132016 AVERAGE)

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

2013

2014

2015

2016

$479

n/a

n/a

n/a

CONDOMINIUM/ TOWNHOME

2017

2013

2014

2015

2016

2017

$568 AVERAGE:

$350

$387

$338

$394

$453

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

94.78%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

96.99%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 13

DILLON

44.8%

S I N G L E - FA M I LY/ D U P L E X

GROWTH IN MEDIAN SALES PRICE SINCE 2013

63.3%

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$13,858,100

28

178

$437,500

2014

$10,024,050

17

177

$500,000

2015

$14,525,300

25

227

$529,000

2016

$19,360,177

29

94

$640,000

2017

$19,846,141

28

31

$633,614

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$9,782,050

44

169

$211,250

2014

$8,787,200

37

134

2015

$16,133,861

61

123

$249,000

2016

$17,014,825

60

33

$227,000

2017

$14,362,930

54

8

$228,760

CONDOMINIUM/ TOWNHOME

LESS TIME SPENT ON THE MARKET (COMPARED TO 20132016 AVERAGE)

$202,000

90.84%

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

CONDOMINIUM/ TOWNHOME

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

$215

$228

$226

$268

$297 AVERAGE:

$227

$233

$257

$298

$331

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

97.51%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

98.92%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 14

FRISCO

14%

S I N G L E - FA M I LY/ D U P L E X SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$8,753,884

13

174

$580,000

2014

$12,772,697

19

211

$680,000

2015

$22,536,375

29

114

$710,000

2016

$16,736,664

21

89

$811,000

2017

$15,236,500

15

55

$840,000

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$14,911,998

41

193

$425,000

2014

$15,726,499

36

183

$405,500

2015

$22,713,280

56

167

$361,500

2016

$26,401,545

55

47

$439,000

2017

$29,488,300

55

38

$515,000

INCREASE IN AVERAGE PRICE PER SQUARE FOOT (2016-2017)

CONDOMINIUM/ TOWNHOME

17.3% INCREASE IN MEDIAN SALES PRICE (2016-2017)

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

CONDOMINIUM/ TOWNHOME

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

$269

$298

$362

$356

$406 AVERAGE:

$281

$342

$323

$400

$431

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

97.45%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

98.29%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 15

KEYSTONE

9.2%

S I N G L E - FA M I LY/ D U P L E X

CHANGE IN AVERAGE PRICE PER SQUARE FOOT

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$5,888,750

6

310

$1,039,375

2014

$5,224,500

6

502

$766,500

2015

$12,912,500

11

329

$975,000

2016

$13,024,800

11

140

$975,000

2017

$15,476,500

11

254

$1,189,000

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2012

$21,864,000

57

207

$330,000

2013

$25,189,400

71

261

2014

$29,556,750

88

251

$298,500

2015

$34,120,449

102

211

$285,100

2017

$67,599,300

136

40

$424,500

(2016-2017)

33.3%

CONDOMINIUM/ TOWNHOME

INCREASE IN NUMBER OF SALES (2016-2017)

$312,000

90.84%

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

CONDOMINIUM/ TOWNHOME

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

$251

$280

$293

$315

$344 AVERAGE:

$310

$306

$327

$351

$436

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

94.98%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

98.32%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 16

SILVERTHORNE

14%

S I N G L E - FA M I LY/ D U P L E X SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$27,501,015

42

220

$626,200

2014

$29,236,200

45

214

$562,500

INCREASE IN HOMES SOLD

2015

$39,261,005

62

233

$581,500

(COMPARED TO 20132016 AVERAGE)

2016

$50,053,303

62

81

$681,250

2017

$53,915,065

60

114

$788,000

SALES VOLUME

NO. OF SALES

AVER AGE DAYS ON MARKET

MEDIAN SALE

2013

$14,905,099

47

219

$234,000

2014

$19,663,850

70

148

$250,250

2015

$29,630,067

92

106

$306,500

2016

$21,702,204

71

30

$290,000

2017

$30,629,580

81

32

$332,000

CONDOMINIUM/ TOWNHOME

74.6% LESS TIME SPENT ON THE MARKET (COMPARED TO 20132016 AVERAGE)

P R I C E P E R S Q UA R E F O O T C O M PA R I S O N SINGLE- FAMILY/DUPLE X AVERAGE:

CONDOMINIUM/ TOWNHOME

2013

2014

2015

2016

2017

2013

2014

2015

2016

2017

$247

$254

$269

$301

$321 AVERAGE:

$220

$238

$252

$289

$344

SALE PRICE VS LIST PRICE SINGLE- FAMILY/DUPLE X AVERAGE OF SALE PRICE/LAST LISTED PRICE:

CONDOMINIUM/ TOWNHOME

96.68%

AVERAGE OF SALE PRICE/LAST LISTED PRICE:

98.95%

Source of all data contained 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. ©2017 Slifer Smith & Frampton Real Estate

2017 S I X M O N T H SL I FE R R E P O R T 17

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Photo courtesy | Vail Resorts

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