Real Estate Market Trends - Live
Summit County is a collection of the popular resort towns Breckenridge, Keystone, Copper Mountain and Frisco. These towns all have a varied mix of condos, town homes, duplexes and single family residences. The county also has towns and areas that are mostly used by permanent residents that offer some great second home or investment opportunities. Silverthorne, Wildernest, Dillon, Summit Cove and Blue River are in this category. The northern part of the county is home to Heeney, next to Green Mountain Reservoir, and Kremmling. A more affordable and more rural type of mountain living. South of Summit County is Park County, which is also more rural, with the towns of Alma, Fairplay and Como which are a picturesque 30-45 minute drive from Breckenridge. Let’s explore the market trends of these different towns.
Resort Towns - Residential Homes, Townhomes & Condos
The residential market in the resort towns is strong with prices continuing to appreciate. Demand increased after the initial outbreak of Covid-19 with more people looking for a second home or come and enjoy the mountain lifestyle. Supply has decreased to an extraordinarily low level. Combined with lower interest rates for mortgages, the average prices continue to increase.
In 2019 Breckenridge average sale price increased from $950,000 to $1,100,000. After a flat 2019 for Frisco, Keystone and Copper Mountain, and with a low supply in more popular Breckenridge, those three resort towns also see a healthy increase between 5% and 20%.
Resort Towns - Land
The Land markets in the resort towns are very unique. Breckenridge and Dillon / Summit Cove have seen a stable land market since the start of 2019, with a recent increase in Dillon due to increased real estate development and supply being limited. Keystone and Copper Mountain have very little land available, and the limited number of transactions don’t follow a pattern.
To find the right lot or piece of land in these resort towns, contact us to help you navigate this unique and sometime volatile market.
Northern Summit and Grand County Towns - Residential Homes, Townhomes & Condos
The towns of Silverthorne and Dillon are rapidly developing with many new construction condos, townhomes and new retail, restaurants, services. With all improvements, the prices for all real estate in these towns have increased 7-10% just since January 2020. The home prices in Heeney and Kremmling are increasing steadily which is good news for those looking for a more rural setting and a long-term investment.
Northern Summit and Grand County Towns - Land
North of Silverthorne, there are still great opportunities to buy your own lot or land. Average price trends are going up, but finding that unique parcel for your home, second home or ranch will require some more research to make sure you get value for money. In the towns of Dillon and Silverthorne and the neighborhoods of Windernest and Summit Cove, land opportunities are more limited. For those with plans and patience, buying land can be a great way to get your mountain home of your dreams for less money than buying an existing home.
South Summit and Park County Towns - Residential Homes, Townhomes & Condos
The Southern part of Summit County and North Western part of Park County have generally been more affordable than the resort towns. The market in Blue River, 5-15 minutes south of Breckenridge, is following the trends of Breckenridge. This makes Blue River attractive for residents, second homeowners and investors alike. Average prices have increased more than 40% since the beginning of 2020. The Park County towns of Alma, Fairplay and Como are more stable with a much more affordable starting point. For those that want to be away from it all and still close to the resort towns, Park County is increasing in popularity with lots of opportunities.
South Summit and Park County Towns - Land
As home prices increase in Blue River so do the land prices. Most lots are between half and a whole acre. If you’re looking for more space, Park County is for you. Everything from Town lots to Ranch land is available. A great investment to build your own second home or ranch out in the beautiful rural valleys of Park County.
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