Summit County Real Estate Market Data
One of the most common questions asked by potential Buyers and Sellers of Summit County real estate is "how is the market?". The following information is provided by a variety of sources and seeks to answer this general question in a variety of ways.
Most of this market data is assembled in the aggregate (i.e. totals, averages, trends, etc.).
While this approach does serve a purpose, it also has its limitations and can be easily misinterpreted. One obvious example of this is the May. 2010 bar graph of real estate price averages which indicates an average (mean) land sales price in 2010 of $416,231 as compared to that of $399,025 in 2009. One should not conclude from this that land values have increased in the past year as this is not the case. In this instance, the 2010 average land sales price average is skewed by 1 of the sales having closed for $3,300,000. The median land sales price data paints a different picture showing a decline from $340,000 to $185,000. There are other examples like this one and determining the fair market value of any specific property at any given point in time requires comparing it to the most recent sales and current listings of comparable properties. Contact us for such an analysis and visit our blog for periodic articles based on the data below.
Land Title Guarantee Company Data
Land Title is one of the largest and longest operating closing companies in Colorado. They have Summit County offices in Breckenridge, Frisco, and Dillon. They also have about 40 other offices throughout Colorado and customers are able to sign Closing documents at any of their locations, regardless of where the property is that they are buying or selling.
About once a month or so, Land Title distributes market snapshots of real estate sales in the Summit County Colorado area. And about once quarterly, Land Title provides market summaries for several counties throughout Colorado. New data will be posted here as it comes out.
Current Land Title Monthly Summit County Colorado specific data (.PDF format)
Beginning in 2010, Land Title is sending out Summit County Colorado real estate sales and market data in one .PDF file. Click here for the most recent edition. (posted 07/27/2010)
Following describes the information contained in this file:
- Market Snapshot by Area & Property Type Comparison - comparing Full Year 2009 vs. YTD (five months) 2010. The top graph shows the Average Price Comparison which shows the average price for Single family, Multi- Family and Residential Land showing percent change. The Median Price Comparison- compares Median Single Family, Multi-Family and Residential Land with percentage change. Sales believed to be inaccurate indicators of the market have been eliminated in this bottom report. The bottom graph shows Full Interest, Fee Simple, Arms- Length transactions.
- Summit County 2004-2005-2006-2007-2008-2009-2010 Graph Comparison. This graph shows 6 full years for comparison, plus May 2010 numbers. This graph shows all transactions that were recorded with a doc fee and correlates to the Market Analysis by Area graph.
- Price Point Summary June 2010 Price Point Summary (New Construction, Resales and June Gross Residential Price Index and Full YTD Gross Residential Price Index for 2010 ( six months), also shows Full Years, 2009, 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price for Single Family, Multi- Family and Vacant Land.
- Historical Price Point Summary YTD for Residential Improved Units June 2010 and the Price Point Summaries YTD from 2009 and 2008 for comparison.
- Market Analysis % Change from 2004, 2005, 2006, 2007, 2008, 2009 and YTD 2010
- Market Analysis by Area for the month of June 2010 : On the Market Analysis by Area report please note the color coded system;
- Black Text indicates the value is the same or not applicable from the previous month’s value.
- Red Text indicates a decrease from the previous month’s value.
- Green Text indicates an increase from the previous month’s value.
- Colored text is not used for % Calculations – all of those columns will remain black
- Price per Square Foot (PPSF) was also added to the last column.
- Bank Sales June details : The Market Analysis by Area now reflects the number and total of Bank Sales with the Gross Volume and % volume of the overall gross volume in sales at the top of the Market Analysis by Area worksheet.
- Market Analysis by Area YTD (6 months)
- Average Price History YTD 2010, Full Years, 09, 08, 07, and 06 : based on data from the Residential Price Point Summary.
- Top Lenders’ Graph for June 2010
- June 2010 Foreclosure Process Document Breakdown for
Summit County : This report shows how many Timeshares, Fee Simple and Unknown with No legal shown are going into the Foreclosure process and where they are within the process.
- Notice of Election & Demand for Sale ( NED) with Step process
- Certificate of Purchase ( COP) with Step process
- Public Trustee’s Deeds ( PTD) with Step Process
- Year to Date Summary of Foreclosure Actions : this new report shows the property foreclosure summary with property types and locations YTD with snapshot graphs.
- 2009 Summit County Foreclosure Summary : This is for comparison, showing the snapshot of what happened in 2009.
Highlights of the above
Notable Sales in June:
- The highest priced sale this month is for a ski-in/out condominium unit: 6/25/2010 $2,590,000 One Ski Hill Place Condo Unit 8507 – 1521 Ski Hill Road – 4 Brm 4 Bath – 1,912 SF – YOC 2009 – PPSF of $1,354.60. This is a new construction sale.
- There was also a single family residence: 6/1/2010 $1,975,000 Trappers Glen Subd Lot 2 – 1015 Four O’Clock Road – 6 Brm 6 Bath – 3,784 SF – YOC 1998 – Landsize = .8310 AC. PPSF of $521.93.
One Ski Hill Place Condo continues to impact the market this month with the following in sales for June 2010:
- Gross Volume: $27,445,000
- Average Price per Unit: $1,372,250
- Number of Transactions: 20
- Average Price PSF: $1,301.11
June Remarks:
- Market Snapshot: Overall, for the 19 different areas that the Clerk and Recorder post transactions- the gross Median Single Family price in June for 6 months compared to the full year of 2009 was down 10% ($624,650-YTD 2010 compared to $695,750-2009), Median Price of Multi-Family was up 6% ( $350,000-YTD 2010 compared to $330,000-2009), and Vacant Land was down 22% ( $265,000-YTD 2010-$340,000-2009).
- Summit County Gross Real Estate Volume Graph: June 2010 saw a huge spike compared to June 2009- the 20 One Ski Hill Place Transactions played a role in the increase and monetary volume. Monetary volume was 146% up compared to June 2009 with One Ski Hill Place included. Monetary volume was up just 65% if we take One Ski Hill Place out of the equation, with is still a big improvement over last June 2009. Transactions were up in June with One Ski Hill Place compared to June 2009 by 73%, without One Ski Hill Place, the transactions were up 47%- so overall June showed signs of improvement in Summit County.
- Residential Market Sales by Price Point: The most active price areas in June were under $200K! One Ski Hill Place transactions impacted the higher price ranges. The Single Family Average price YTD continues to be comparable to the full year of 2006.
- Historical Cost Breakdown: Year to Date 2010 shows 119 more Residential Improved Unit transactions vs. YTD June 2009. Gross Volume has also increased by $60,468,800 YTD 2010 vs. YTD 2009.
- Market Analysis % Change: YTD Monetary Volume for ALL transactions recorded is up 25% compared to YTD June 2009. YTD transaction volume for ALL transactions recorded is up 27% compared to YTD June 2009.The numbers still don’t compare to anything that we saw since 2004, 2005, 2006, 2007, 2008 or 2009 YTD.
- Market Analysis by Area YTD 2010: The only two areas in Summit that showed an increase with the Median Residential Price were Breckenridge and Summit Cove in June. The three most active areas in June both with $ and # of transactions: Breckenridge- with 20 transactions included in the 50, Breckenridge Golf Course area and Silverthorne/Wildernest-which might explain the high number of Residential transactions under $200K.
- Market Analysis by Area YTD 2010 for June: The average price per square foot in the 19 areas reported by the Clerk and Recorder’s office is $343, with Median Transaction Price at $553,536. The Median Residential Price is $448,000.
- Top Lender Graph: Cash sales hover around the 40% mark. There were 309 loans recorded in June: 83 of those were related to sales- 60% of the 138 recorded sales in Summit. There were 186 Refi’s/Equity loans, 40 loans were related to timeshares
Land Title Resort Index for the 1st Quarter of 2010
The above link will open a .PDF file containing the following four pages for Summit County and other nearby resort real estate markets:
- Gross Transaction Chart-Gross recorded real estate sales volume for all transactions in the 5 counties YTD 2010, 2009, 2008, 2007, 2006, 2005 and 2004 full years, with data points shown for $ volume from 2010, 2007 and 2004.
- Comparison Charts- 4 charts: Number of Recorded Sales Transactions by County YTD 2010, Full Years 2009 through 2008, Full Year 2009 and YTD 2010 Average Price Per Square Foot Sales Summary for Single Family and Multi- Family Property Types , Average Sales Price: Single Family 2008 through YTD 2010 and Average Sales Price: Multi-Family 2008 through YTD 2010.
- Monthly Data-showing YTD Number of Transactions, Single Family Average Price Index, Multi- Family Average Price Index and Single Family- Mulit-Family Average Price Per Square Foot Comparisons.
- Monthly Data for the Comparison Charts-Gross Volume Transaction Report for all Recorded Transactions from 2006 through YTD 2010, and Gross Transaction Report Summary with Year to Date Comparisons through YTD 2010 through 2004.
Year end 2009 Land Title Summit County Colorado specific data (.PDF format)
Summit County Residential Price Index YTD : Average sales prices for Single Family, Multi Family, and Vacant Land properties comparing 2006, 2007, 2008 & 2009. Year end 2009.
Summit County 2004-2009 Graph Comparison : Perhaps the most useful of the charts and graphs for showing real estate sales activity for the market as a whole during the past 6 years. Year end 2009.
Cost Breakdown by month: for Residential Improved Units (New Construction, Resales, Gross Residential Price Index and YTD Gross Residential Price Index), also shows Full Year 2009, 2008, 2007 and 2006 Gross Residential Price Index with # of transactions, total volume and average price. Year end 2009.
Cost Breakdown YTD : for Residential Improved Units and the Cost Breakdown for the full years of 2007 and 2008 for comparison.
Year end 2009
Market Analysis by Month : Month to Month Comparison by Monetary Volume and Number of Transactions with % Change from 2004-2009. Year end 2009
Market Analysis by Area YTD : Year end 2009
Market Snapshot : This worksheet breaks down all of the residential activity by property type and areas in Summit County. We utilize ONLY “Arms- Length” transactions for this report. The “Arms Length” residential activity is broken out into Single Family, Multi- Family and Vacant Land transactions. A comparison from a full year of 2008 (all sales transactions that qualify for the full year) along with % growth or loss by area is also shown in this report. The current year shows sales through December 2009 from the Summit County Clerk and Recorder’s & Assessor’s Office- no MLS data is utilized in this worksheet. Year end 2009
22 Year Average Price Housing Index for Summit County : Reflecting the average price for all residential property types- single family, Duplex-Triplex, Townhome and Condominiums.
Year end 2009
22 Residential Gross Volume Housing Index for Summit County : Reflects the monetary volume on the Cost Breakdown above.
Year end 2009
Summit County Lenders Chart : Reflecting the total of all loans for 2009 as a summary.
Year end 2009
Land Title remarks on Year end 2009 data:
- Summit County real estate ends 2009 on a high note with December being the strongest month at $102,685,700 in Monetary Volume and 178 transactions.
- Summit County ended the year with $683,009,100 in monetary volume. This is 36% shy of last year’s total. Transactions in 2009 totaled 1245, 32% shy of last year’s total.
- The areas that show an increase in median average price for Single Family 2008 to 2009- Breckenridge at 14%, Keystone at 27%, Peak 7 ( Crystal Peak Lodge) at 33%, Silverthorne at 20%,- the total Median Price Single Family Gross Live Median increased by 4%.
- The areas that show an increase in median average price for Multi-Family 2008 to 2009 –Copper Mountain at 21%, Silverthorne at 2% and Summit Cove at 22%-the total Median Price Multi-Family Gross Live Median decreased by 10%
- The total Median Price for Vacant Land only decreased from 2008-2009 by 3%.
- There were 136 Residential Improved Units that sold for $1M and over in 2009 vs. 177 in 2008 and 208 in 2007.
- The most active Residential Price ranges in December where 200k-300k 21 transactions, 300K -400K 22 transactions, 400K-500K 21 transactions and 500K-600K21 transactions.
- The average price history for Real Estate transactions on the Residential Improved Unit side still hold steady with 4 full years of historical data: Single Family continues to show an increase: $905,030, Multi-Family, slight decrease at $398,051- relatively flat, and Vacant Land with a slight decrease- relatively flat.
- Year to date Residential Price Index 2009 Single Family: 392, vs. 2008 with 470, 801 in 2007 and 874 in 2006. Multi- Family in 2009-655, 1001 in 2008, 1779 in 2007 and 1978 in 2006. Total volume for $ is obviously lower in 2009 compared to the past 3 years.
- The YTD Price Point Summary (Cost Breakdown) for 2009 indicates a total of 1047 transactions and $615,495,400 vs. 2008 1471 transactions with $ 856,723,200 and 2007 at 2581 transactions with $1,363,450,600.
- The Year to Date 2009 top 6 number of transactions: Breckenridge at 257, $181,981,900, Keystone at 173 transactions, $80,782,900, Frisco at 127 transactions, $57,275,800, Silverthorne at 117 transactions, $76,154,700 ,the Breckenridge Golf Course area at 116 transactions, $87,612,700 and Wildernest with 114 transactions, $34,269,100.
- Cash transactions are still averaging around 40% each month.
- Top Sale in Summit County: 12/21/2009 $8,285,000 Timber Trail Subd Lot 9 – 382 Timber Trail Road – 7 Brm 9 Bath – YOC 2006 – 6,565 SF on .545 Acres which is $1,262.00 PSF located in Breckenridge on Peak 8.
Land Title "Resort Index" data (.PDF format)
There are several counties within the State of Colorado which can be considered resort real estate markets. The following data compares the real estate sales within and between the following four Colorado resort counties:
- Eagle County : Containing the ski resorts of Vail and Beaver Creek, this is the market which is the closest (and perhaps most similar) to that of Summit County.
- Garfield County : Contains the resort destination town of Glenwood Springs. Glenwood Springs is known for its hot springs and this is also the town which services the Aspen and Snowmass ski areas.
- Pitkin County : Contains the Aspen and Snowmass ski areas.
- Routt County : Contains the Steamboat ski area in Steamboat Springs.
- Summit County : The county which is the focus of this web site containing the ski areas of Breckenridge, Keystone, Copper Mountain as well as the towns of Frisco, Dillon, Silverthorne, Blue River, Heeney, and Wildernest.
Comparison Charts- 4 charts: Number of Recorded Sales Transactions by County Full Years 2009 through 2007, Full Year 2009 Average Price Per Square Foot Sales Summary for Single Family and Multi- Family Property Types , Average Sales Price: Single Family 2007 through 2009 and Average Sales Price: Multi-Family 2007 through 2009.
Year end 2009
Gross Transaction Chart : Gross recorded real estate sales volume for all transactions in the 5 counties for the full years of 2009, 2008, 2007, 2006, 2005 and 2004, with data points shown for $ volume from 2009, 2007 and 2004. Year end 2009
Monthly Data for the Comparison Charts : Gross Volume Transaction Report for all Recorded Transactions from 2006 through 2009, and Gross Transaction Report Summary with Year to Date Comparisons through 2004. Year end 2009
Summary Data : showing Number of Transactions, Single Family Average Price Index, Multi- Family Average Price Index and Single Family- Mulit-Family Average Price Per Square Foot Comparisons. Year end 2009
Raw Summit County Real Estate Sales Data
Below you will find Summit County real estate sales information dating back to Jan 01, 2000 in tab delimited text tables. There are some occasional errors and omissions in this information. For example, some properties indicate square footages equal to "0". Also, Summit County real estate sales by For Sale By Owners may not be represented here. This data is also limited to Summit County real estate sales priced over $100,000 to eliminate most of the timeshares, partial ownership's, etc. Some condos indicate lot information which is typically a result of the building and unit numbers being entered in the wrong place. And there may be other errors and omissions as well.
The links below will direct you to Tab Delimited text files which are intended to be opened with a spreadsheet program such as MS Excel. To do so, right click on a link and save the link target to your hard drive. Then open it with the program of your choice.
Summit County Residential Real Estate
The following is a summary of the above Summit County residential real estate sales information:
| Year | Number of Sales | Total Sales Volume | Avg. Sales Price | Date | Listings : Active / Under Contract / Sold YTD | |||||||
| 2000 | 2014 | $664,519,762 | $329,950 | Summit County | Breckenridge | Keystone | Silverthorne | Frisco | Dillon | Copper | ||
| 2001 | 1648 | $561,786,892 | $340,890 | 05/01/10 | 1589/226/222 | 743/143/88 | 234/19/30 | 236/33/44 | 124/14/30 | 133/16/24 | 119/1/6 | |
| 2002 | 1694 | $547,054,487 | $322,936 | 06/01/10 | 1794/185/315 | 819/112/136 | 254/10/44 | 287/27/57 | 148/15/38 | 161/19/32 | 125/2/8 | |
| 2003 | 2115 | $713,796,058 | $337,492 | 07/01/10 | 2021/167/390 | 905/101/170 | 300/11/51 | 322/22/74 | 174/20/41 | 193/8/46 | 127/5/8 | |
| 2004 | 2167 | $769,929,715 | $355,298 | 07/15/10 | 2105/174/412 | 945/102/178 | 307/7/55 | 342/26/78 | 183/25/43 | 199/8/49 | 129/6/9 | |
| 2005 | 2410 | $974,474,146 | $404,346 | |||||||||
| 2006 | 2464 | $1,151,990,741 | $467,529 | |||||||||
| 2007 | 2145 | $1,187,703,068 | $553,708 | |||||||||
| 2008 | 1210 | $745,230,957 | $615,893 | |||||||||
| 2009 | 918 | $562,548,024 | $612,797 | |||||||||
- Between 2000 and 2008, an average of 41% of residential sales occurred in the first half of the year.
- In 2009, 29% of sales occured in the first half of the year.
- In 2009 there were 918 Residential real estate sales in Summit County Colorado. Here is the breakdown of these sales by area:
- Breckenridge: 363
- Keystone: 137
- Copper Mountain: 40
- Dillon / Summit Cove : 97
- Frisco : 98
- Silverthorne / Wildernest : 183
Summit County Vacant Land Sales
The following is a summary of the above Summit County vacant land sales information:
| Year | Number of Sales | Total Sales Volume | Avg. Sales Price | Date | Listings : Active / Under Contract / Sold YTD | |||||||
| 2000 | 338 | $78,453,205 | $232,110 | Summit County | Breckenridge | Keystone | Silverthorne | Frisco | Dillon | Copper | ||
| 2001 | 220 | $51,517,664 | $234,171 | 05/01/10 | 390/10/19 | 253/4/14 | 26/0/1 | 65/6/3 | 17/0/0 | 24/0/1 | 5/0/0 | |
| 2002 | 232 | $51,592,308 | $233,449 | 06/01/10 | 442/16/24 | 266/8/17 | 28/0/1 | 78/6/5 | 16/0/0 | 29/2/1 | 5/0/0 | |
| 2003 | 243 | $64,729,837 | $266,378 | 07/01/10 | 456/11/32 | 285/6/22 | 29/0/1 | 87/5/6 | 17/0/0 | 33/0/3 | 5/0/0 | |
| 2004 | 344 | $79,010,875 | $229,683 | 07/15/10 | 487/10/37 | 299/6/26 | 29/0/1 | 102/4/7 | 21/0/0 | 32/0/3 | 4/0/0 | |
| 2005 | 437 | $141,920,462 | $324,761 | |||||||||
| 2006 | 394 | $123,940,340 | $314,569 | |||||||||
| 2007 | 313 | $125,493,527 | $400,938 | |||||||||
| 2008 | 136 | $67,146,196 | $493,722 | |||||||||
| 2009 | 68 | $22,129,380 | $325,432 | |||||||||
- Between 2000 and 2008, an average of 51% of vacant land sales occurred in the first half of the year.
- In 2009, 46% of vacant land sales occured in the first half of the year.
- In 2009 there were 68 Vacant Land real estate sales in Summit County Colorado. Here is the breakdown of these sales by area:
- Breckenridge: 40
- Keystone: 7
- Copper Mountain: 0
- Dillon / Summit Cove : 1
- Frisco : 3
- Silverthorne / Wildernest : 17
Please note that all data comes from actual recorded transactions at the County Clerk and Recorder's Office. The information is not directly related to MLS data. The data is an unofficial tabulation of Summit County Records that are believed to be reasonably accurate.