What's happening in the Summit County Real Estate Market?

Spring Time Real Estate Update: Summit County Edition
🏡🌷

The sun is shining, the snow is softening & slushing up -yielding to the gentle touch of spring.  It’s officially the start of “Mud Season” and the Summit County real estate market is beginning to heat up. 🏡🌷

📈🏔️ Fun Fact: Nationally, 40% of home purchases occur between March and May. However, here in Summit County, the buzz tends to peak a bit later, typically between June and September

Wait a sec, you may be thinking, wouldn’t most sales happen during the winter when the town is bustling with visitors? Surprisingly, no. As we always say, people come here in the winter to ski and come back in the summer to buy! Good weather, an influx of sellers, strategic timing all contribute to this trend, with many aiming to settle into their new or second home before the next ski season. ⛷️🏠

Wondering how Q1 2024 stacks up compared to Q1 2023?  Let’s dive in:





While the variance isn’t substantial, it’s worth noting that the number of active listings in March is up by 16% compared to last year. This uptick signals a potential shift in the tide of our persistently low inventory. 📈🏘️

A theme that takes center stage this time of year is GROWTH!

  • Financial growth - Hello tax season!
  • Personal growth - Remember those goals you set in January?
  • Family growth - Spring is the start of wedding and graduation seasons.
  • Business growth - Now is the time to implement new plans and projects.

So, as you celebrate the progress you’ve made this year and prepare for a season of growth, keep this quote in mind…

“Make decisions today for where you want to be tomorrow.”

It’s a powerful reminder to make daily, incremental steps toward a bigger vision.

Which brings us back to you, your real estate, and your vision. 🏡🔍

Are you still dreaming of that mountain getaway? Or perhaps it’s time to upsize, downsize or make a change. 🔄🏔️

If you’re bursting at the seams or feeling stuck in your current place, we want to help!

Growth flourishes in the right environment, and we want to make sure your mountain getaway is in a neighborhood and home that will nurture you and your family today and for years to come.

Let’s connect and strategize your next move. 📞📆

Keep reading to learn more about what you can do during mud season, what’s happening in the county and what your money can buy this spring, and much more!




Summit County Market Analysis provided by Land Title EOY 2023

  • Market Analysis by Area for December 2023: There were a total of 128 transactions and $179,068,160 in monetary volume. The average transaction price for all 18 reported areas, plus Deed Restricted transactions, was $1,460,369. The average residential price was $1,488,134 and the average residential PSF was $797.
  • Market Analysis by Area 2023 (12 Months):  There were a total of 1,566 transactions with $1,913,164,632 monetary volume. The average transaction price was $1,290,411, the average residential price was $1,355,177 and the average residential PPSF was $795.
  • Market Snapshot for Full Year 2023 vs Full Year 2022:  Average indicators for $: Single Family +1%, Multi- Family +6% and Vacant Land +2%. Median indicators for Single Family +3%, Multi- Family +11% and Vacant Land -3%.
  • Market Analysis % Change Full Year 2023: Monetary volume in December 2023 was up 8% from December 2022. Transactions were up 6% from December 2022.  Full Year 2023, monetary volume was down 15% and transactions were down 13% from 2022. 
  • Residential Cost Analysis:  Residential volume in December had 107 transactions with $159,230,295 gross volume. There were 64 properties that sold for $1M and above in December.  There were 43 Single Family, 64 Multi-Family and 3 Vacant Land transactions in December.  
  • Average Price History by Type Full Year 2023: Average price for residential Single Family: $2,086,709, Multi- Family: $953,206 and Vacant Land: $679,558. 
  • Comparative Historical Cost Analysis Comparison 2023-2022-2021: In 2023, there were 1,221 transactions with $1,654,671,520 gross monetary volume with 646 properties selling for over $1M. In 2022, there were 1,401 transactions with $1,857,850,212 gross $ volume with 686 properties selling for over $1M. In 2021, there were 2,354 transactions with $2,647,787,218 gross $ volume with 887 properties selling for over $1M.
  • Top Lender Analysis December and Full Year 2023: There were a total of 245 loans, 75 loans related to sales, 53 REFI's and 117 timeshare loans in December with 41% of real estate deals closing with cash. Full Year 2023: There were a total of 3,180 loans, 911 loans related to sales, 669 REFI's and 1,600 timeshare loans and 42% of real estate closings were cash.
  • Foreclosure 2023 Summary: There were a total of 75 Foreclosure actions- 15 Fee Simple and 60 Timeshare actions, 20 of these made it to PTD.
  • Purchaser Profile Abstract:  Our buyers for real estate transactions in 2023: Local buyers 28%, Front Range demographic at 37% and 34% were out-of-state buyers with 1% International. 

Live/Active Market Information provided by Title Company of the Rockies 
(Click on town names below to view town stats)

Breckenridge The median list price for a Single-Family Home in Breckenridge, CO 80424 is $2,985,000 with the market action index hovering around 28. This is about the same as last month's market action index of 28. Inventory has decreased to 67.

The median list price for a condo in Breckenridge, CO 80424 is $809,000 with the market action index hovering around 36. This is an increase over last month's market action index of 35. Inventory has decreased to 55.

Dillon The median list price for a Single-Family Home in Dillon, CO 80435 is $2,349,000 with the market action index hovering around 44. This is an increase over last month's market action index of 38. Inventory has decreased to 15.

The median list price for a condo in Dillon, CO 80435 is $1,002,500 with the market action index hovering around 35. This is about the same as last month's market action index of 35. Inventory has decreased to 84.

Frisco The median list price for a Single-Family Home in Frisco, CO 80443 is $2,450,000 with the market action index hovering around 51. This is an increase over last month's market action index of 30. Inventory has held steady at or around 1.

The median list price for a condo in Frisco, CO 80443 is $940,000 with the market action index hovering around 44. This is less than last month's market action index of 47. Inventory has increased to 21.

Silverthorne  The median list price for a Single-Family Home in Silverthorne, CO 80498 is $2,422,500 with the market action index hovering around 33. This is an increase over last month's market action index of 32. Inventory has decreased to 24.

The median list price for a condo in Silverthorne, CO 80498 is $801,050 with the market action index hovering around 38. This is about the same as last month's market action index of 38. Inventory has decreased to 53.