Where has summer gone? It is hard to believe we are nearly mid-July! If you usually visit in the winter, summer is a great time to be in Summit County.
There are countless festivals, events and activities to participate in every weekend. On top of that there are endless amounts of hiking and biking trails as well as recreational opportunities that range from sailing to bocce ball tournaments. Plus, if you are looking for a break from the heat, don’t forget the average temperature is in the mid-70’s. The members of Devault Real Estate Group are busy enjoying summer and working hard up here in the mountains. Below is the Devault Real Estate Group’s summary of Summit County real estate statistics and information about residential sales in Summit County as well as insight into our current market.
Also, if you are interested in our Summit County Foreclosure List send me an email. I am sending it out today and there are some GREAT deals in it that will go FAST!
What’s going on in the market?
Home Sales:
- Breckenridge has had a 45% increase in the number of homes sold this year with
- Dillon at a 35% increase
- Frisco is even with last year for their sales. Silverthorne is down 33% in the number of homes sold.
Although we are seeing an increase in sales throughout most of the county, sale prices are down from last year. Frisco, Keystone, Copper, Dillon and Silverthoren combined are currently showing a 15% decrease in the average sold price of single family homes. Breckenridge has a slight 2% increase in sales price for single family homes.
Condo Sales:
- The condominium average sold price declined in Copper by 22%,
- Keystone by 14% and Silverthorne by 1%.
- Frisco witnessed an increase of 19%,
- Dillon up 5%
- Breckenridge up 1%.
The number of condos that sold was up a huge 50% in the Breck market, 53% in Silverthorne and up 75% in Copper! Frisco witnessed a decline of 36% and Dillon is down 17% and Keystone is also down 7%. What’s for sale in this market?
There are 1,847 residential listings for sale throughout Summit County. Out of these listings: · 34% are single family homes and 50% of the listings are condos · 18% of the listings have been on the market for 30 days or less and 42% of the market has been on the market 90 days or less. ·
The highest priced property is a 5 bedroom / 5 bathroom and two half bath home i that is a Beautiful State Of The Art Mountain Retreat built for sustainable living. It is a zero energy built home in Breckenridge with many unique features and benefits. It is a ski-in property with a gourmet kitchen, dining and main floor master suite. Media room, wine cellar and elevator. It is priced at $6,499,000 which makes it $915/sq.ft. ·
Smallest Condo & the lowest priced property for sale is A ONE-OF-A-KIND PROPERY. It is the cheapest “condo” in Summit County and one of the smallest. It is a 1 bedroom / .75 bathroom in River Mountain Lodge and is a whopping 137 sq.ft. It is a ski-in property that is also. Deed Restricted: Employee Housing meaning a place of residence for a person who is actually engaged in gainful employment in Summit County during the period of their residency in the Property, six months minimum. But there is a garage, pool, hot tubs, fitness center, sauna and steam room. Oh, and there is NO kitchen or living room. It is priced at $20,000.
Whether you are interested in the high end or low end of the Summit County marketplace I can help with your real estate search. Just email me the criteria you are looking for in a property and I can set it up so you get emails on properties that meet your criteria.
What sold in June?
In the process of being sold:
There are 136 residential properties currently under contract. 43 of those are single family homes and 70 are condominiums. The cheapest condo that is under contract is a 1 bedroom / 1 bathroom in Dillon Valley for $74,900. The most expensive property under contract is a 7 bedroom / 8 bathroom home in Copper Mountain for $3,249,950. It has currently been on the market for 269 days.
Things that did sell: During the month of June 69 residential properties sold. · 69% of those were condominiums and 32% were single family homes. ·
- Out of what sold 51% of those properties were located in Breckenridge/Blue River area while only 1% were sold in Frisco during the month of June.
- Out of the 69 properties that sold: · 18 were on the market for 30 days or less · 59% of the homes sold this month were on the market for 90 days or less. ·
- Out of those homes sold 8 were under $199,999; 61% were under $500,000 ·
- The least expensive property sold was a 1 bedroom / 1bathroom 432 sq.ft. condo in Blue River that sold for $101,000 and was originally listed for $105,000. A 4% difference between list price and sales price. ·
- The most expensive property sold in the month of June was a 4 bedroom / 4.5 bathroom 4,760 sq.ft. home in Breckenridge The home had luxurious features that included a gourmet kitchen, “smart home” technology, media room, wet bar, high ceilings & is only 400 yards to Peak 8.
A Deal that Can’t be Beat!
I wrote an article for our local newspaper about this 4 bedroom / 3 bathroom Breckenridge home for $349,000. I has three living area, a huge deck and a wooded backyard. I think it is an amazing deal and a great home for a local family or as a vacation home. It has been on the market for just under 30 days.
FEATURED PROPERTY: Alma’s Only Bar Act now to own Alma’s Only Bar! This legendary landmark was fully upgraded in 2007 with $75K of kitchen upgrades and improvements. Restaurant has a bar, two dining areas, Laundromat & 10 guest rooms. This is a great opportunity to work for yourself and reinvent a piece of Park County history. For sale for $549,000
FEATURED BUYER: We have a buyer ready to buy and looking for: A single family home in Frisco Priced around $415,000-$475,000 3 bedrooms with small yard If you have a great property that fits this criteria please, contact Dyan at 970-485-5740 or dyan@coresortproperties.com
ARE YOU INTERESTED IN FINDING FORECLOSURE HOMES? It is easy and FREE to start receiving our monthly Summit County Foreclosure Report. Devault Real Estate Group is the only real estate company that provides an accurate foreclosure list for Summit County. Email Dyan Devault today at dyan@coresortproperties.com to receive your own foreclosure list and to learn about other bargain properties in the county.
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P.S. Are you reading our blog? It is pretty cool and a great Summit County Resource. To request a targeted market report on properties in your area or to receive additional information about Summit County real estate contact:
Here in Summit County, there are a lot of local residents who rent. Many of these residents rent for years… All under the assumption that they can’t afford to own. However, if there is a time that Summit County “ski bums” are able to afford home ownership, it is now.
Summit County Real Estate News 