Statistics on the Luxury Market in Breckenridge and Summit County, Colorado
Luxury sales are strong in each of our Summit County towns: Breckenridge, Keystone, Copper Mountain, Frisco, Dillon, and Silverthorne.
Browse Breckenridge Luxury Homes for Sale
Browse Breckenridge Luxury Condos for Sale
Browse Luxury New Construction
Browse Luxury Homes and Condos with Strong Short Term Rental Income
Browse Luxury Homes that Disallow Short Term Rentals
First, the most recent statistics from last month:
Now looking at 2017’s data for Summit County residential properties of $1M or more.
The following graphs show 2017 data, by 12/31/2017, as compared to 2016 data.
The average sold price of residential properties of $1,000,000 or more increased by 3%, year over year in 2017.
When we look at the price gains of residential properties with a sales price of $1M or higher, the price gains were largest in:
Copper Mountain: +34%. Largely due to properties in Lewis Ranch and The Masters at Copper Creek.
Dillon: +14%. Strong sales in Whispering Pines Ranch and The Pinnacle at Summerwood.
Frisco: +11%. Frisco has a number of luxury neighborhoods. 2017 was especially strong for sales in The Reserve at Frisco, Wiborg Park and the Frisco Duck.
Breckenridge: +2%. Breckenridge also has a number of luxury homes and luxury condo developments. Sales were particularly strong in Shock Hill, One Ski Hill Place, Highlands at Breckenridge, Boulder Ridge, Woodmoor, Warrior’s Mark West, Weisshorn, Timber Trail, Tyra, Summit Estates, Spruce Valley Ranch, and the in-town subdivisions, including Abbetts Addition. Of course, sales were quite robust in the new construction luxury developments, especially Shores at Breckenridge, Shock Hill Overlook, River’s Edge, and Peak Ten Bluffs.
Luxury dales were down in the following communties, from 2016, but sales were still strong:
Luxury Properties with Strong Short Term Rental Income
Many properties saw increases in year over year short-term rental income. I look through rental numbers on a daily basis, and it is not uncommon to see double digit gains in average annual gross incomes. The largest gains I’ve seen were in Breckenridge and Keystone condos but there were also some increases in ski in ski out homes and luxury subdivisions.
Vacation rental management companies will base their gross rental projections on the number of guests a property can comfortably sleep (along with a number of other factors, such as proximity to ski lifts, etc. Contact me to learn more.)
In Breckenridge we are seeing strong short term rental incomes in such luxury properties as, One Ski Hill Place, Bluesky Breckenridge, Crystal Peak Lodge, Water House on Main, and ski in, ski out homes in Breckenridge seem to be doing particularly well in the rental market and occupancy rates are high. In Keystone, we are seeing strong short term rental income in many complexes, especially the condos in the River Run area, including The Timbers, Lone Eagle as well as luxury homes in and around Keystone.
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This is just a sample of the data we can analyze for your particular wants and needs. Each area, subdivision and subset of the market tells a slightly different story. Whether you are considering buying or selling, I’m always happy to provide a detailed analytical perspective on any specific complex or subdivision you are interested in. Just email me to request a customized market report. This report will feature properties currently for sale, properties under contract and sold properties, along with year-to-date and historic sales and trends.
Source: YTD: Year to date 1/1- 12/31/2017 YTD. SAR Data for Residential (Condo, Townhome, Home, Duplexes) in Summit County, Colorado. Unless otherwise specified. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important.