Summit County, CO Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Sept. 16, 2021

The Summit Scoop - September 2021

The Summit Scoop
The Low Down On the High Country | September 2021
Happy September!
It has remained very busy up here in the high country, and multiple offer situations continue. As usual, I've included stats on recent real estate activity below.
It is a beautiful time to be here as hiking and biking trails are a bit less crowded and the leaves on the trees are starting to change. The August rains have subsided so the lake has been dropping a bit, but we have heard whispers of upcoming snowstorms already.
View the Latest Listings in Your Market Segment
One IMPORTANT note for people thinking of short term renting they're home here. Summit County has a local housing crunch and has decided to put a 90 day moratorium on short term rental permits. The last day to get a permit in is tomorrow. If you've been on the fence or need a permit, please go HERE for more county information. Breck has joined in short term limits, capping them at 2200. This was approved last night, we'll keep you updated as information continues to be released.
Here's to a great fall!
Travis
Your Monthly Answer to: How is the Market in Summit?
We've given back the inventory increase we saw in August and are now below 1% once again. This part of the scoop is looking much like it has over the last year or so. Prices have continued to rise, for the most part days on market are low. Along with this has come price reductions for those sellers who have pushed the market to hard and need to adjust when showings begin to slow without an offer presented.
If you're a buyer - be ready, and make sure you're working with a creative and experienced broker. We've recently started recommending a pre-underwriting letter. This letter goes further than a prequal and is used to help give a seller confidence that the loan is in good hands and the chance of closing is high. Get together with an agent to discuss your strategy before you find the home you've been looking for.
For sellers - there are two overlaying strategies we use right now. The first is to price a little low, do a good job making sure your property gets in front of as many buyers as possible and hope for a multiple offer situation. Strategy 2 involves pricing higher and expecting to sit on the market a little longer. We can help talk you through the pros and cons of each to make sure we're helping you meet your goals.
If you're looking to buy or sell, I strongly recommend an experienced agent to guide you through the process. All of us here at Cornerstone are here to help - whether with a sale, or with a local service provider.
This Month's Real Estate Statistics
There were a total of 246 transactions and $243,969,600 in monetary volume in July 2021. Year-to-date monetary volume is up 32% from 2020 and transactions are up 6% from July 2020. The most active price point for July 2021 was between $1mil to $1.5mil with 47 transactions. There were 83 transactions above $1M. In July the average residential price was $1,074,970 and the average residential price per SF was $675. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 15.5% increase in Single-Family Homes, 16.7% increase in Multi-Family Homes, and 17.6% increase in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,600,866 YTD
(15.2% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $707,888 YTD
(15.5% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $433,951 YTD
(12.5% increase YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of September 2nd, 2021, there were 200 active residential listings in Summit County and 34 land listings. Inventory is down 12.36% since last month which brings us to down to 0.90%.
 
As of Septemeber 2nd, 2021, there were 679 pending sales in the County. 181 went pending in the past 2 weeks.
 
There were 460 loans in July 2021. 155 were related to sales, there were 237 REFIs and 68 loans were timeshare-related. The percentage of cash transactions for July was 37%. 
 
Demographics: In July 2021, Front Range buyers were 44% of our market, 31% were 'locals' and 26% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There was 0 Foreclosure actions taken in July 2021.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Summit County Events
Arapahoe Basin Events:
September 18th - Oktoberfest
Breckenridge:
September 16th - 18th - Breckenridge Wine Classic
September 16th - 19th - Breckenridge Film Festival
September 24th - 26th - Brecktoberfest
Dillon Amphitheater Concerts:
September 16th - Phil Lesh and Friends
Dillon Events:
September Fridays (til the 17th) - Farmers Market
Copper Events:
September 18th - Downhill to Dukes Finale
September 25th - 26th - Last Call For Fall
Keystone Events:
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Our Values: Our customers are the most important people in the world. Our staff
is like family. Our profit is a means to an end, and not the end in itself. We celebrate
the individual. We demand excellence from ourselves and our stakeholders. 
Bike Tuning
Here at Podium, we have two certified master mechanics that can handle any job
on any type of bike. Whether it’s a basic tune-up or major repair, we’ve got you
covered at the right price.
Paddle Board Rentals
All of our stand up paddle board rentals are $35 for 2 hours + $10 for each additional hour. Save money over the marina and other local rentals! All Podium’s rentals are top
of the line, and include everything you need for a magical day on the water.
Our complete setups include pumps, paddles, repair kits and leashes
Retail Shop
Podium Sports retail shop stocks everything you need to hit the slopes in style and comfort in the harsh elements of a Colorado Winter. We proudly offer a wide selection
of skis, boots, outerwear, baselayers, gloves and mittens, and so much more. Stop in
today and let our passionate employees help you get the gear you need to pursue
things you love.
Posted in Market Updates
Aug. 10, 2021

The Summit Scoop - August 2021

The Summit Scoop
The Low Down On the High Country | August 2021
Well, it's continues to be a great summer for Summit County. We've had rain almost daily through the month of July, Lake Dillon is looking great and our grass is green. It is Colorado - so even on rainy days, the sun has poked it's head out to provide us with some vitamin D.
Rain has caused problems for our neighbors down valley. Glenwood Canyon had a massive mudslide last weekend, covering the highway and going into the river. I-70 will be closed for weeks while they move debris and make repairs. If you're driving from the west, plan on a long detour.
View the Latest Listings in Your Market Segment
Covid has reared it's head once again here in Summit. Our August case numbers have increased, a trend we're seeing through most of the state and country. We haven't seen any changes in policy from a government prospective, but some local shops have gone back to requiring masks. Most places are business as usual, but if you're coming up, it may be a good plan to bring a mask along.
As always, we've included a list of upcoming events towards the bottom of this newsletter. Take a look and make your plans, we hope to see you soon!
Travis
Your Monthly Answer to: How is the Market in Summit?
We're starting to see a slight shift in the market, and while it is a very slight shift, it gives me something new to talk about. Inventory is now near the 1% mark, while we'd like to see it in the 2.5-3.5% range, it is higher than it's been since late last year. Sales are up, so is supply and right now it is a little ahead of demand.
What does this mean for a buyer? You may have a shot at an accepted offer! We've been able to get most of our offers in the front of the line and accepted here at Cornerstone, but that has meant writing smart contracts with appraisal gap coverage, limited inspections, large down payments. This may still be the case, but we have a little less pressure and a better chance to buy with less stress.
From a sellers perspective, correct pricing is even more important. We still have some pent up buyer demand, but these buyers have sat through a rough year. They know what they want and they're well educated on value. Expect to see more days on market and less multiple bid situations - especially if you're pushing price.
As always, I'd like to reiterate the importance of a good broker if you're in the real estate market. We're going to put your interests first and help guide you through the process to meet your goals. That may be a quick close, or waiting for a higher price. We're here to set realistic expectations and to make the process as a buyer or seller as smooth as possible.
If you have any questions, please reach out.
This Month's Real Estate Statistics
There were a total of 285 transactions and $296,954,312 in monetary volume in June 2021. Year-to-date monetary volume is up 176% from 2020 and transactions are up 136% from June 2020. The most active price point for June 2021 was between $1mil to $1.5mil with 42 transactions. There were 77 transactions above $1M. In June the average residential price was $1,071,749 and the average residential price per SF was $638. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 15.2% increase in Single-Family Homes, 15.5% increase in Multi-Family Homes, and 12.5% increase in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,597,670 YTD
(15.2% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $700,419 YTD
(15.5% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $415,087 YTD
(12.5% increase YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of August 1st, 2021, there were 234 active residential listings in Summit County and 33 land listings. Inventory is up 2.69% since last month which brings us to 1.03%.
 
As of August 1st, 2021, there were 630 pending sales in the County. 121 went pending in the past 2 weeks.
 
There were 656 loans in June 2021. 193 were related to sales, there were 275 REFIs and 188 loans were timeshare-related. The percentage of cash transactions for June was 37%. 
 
Demographics: In June 2021, Front Range buyers were 45% of our market, 27% were 'locals' and 28% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There was 2 Foreclosure actions taken in June 2021.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Summit County Events
Arapahoe Basin Events:
August 11th & 25th- A-Basin Farm to Table Series
August 20th - Supper Club - Curry
Dillon Amphitheater Concerts:
August 11th - Melissa Etheridge
August 13th - Black Pumas
August 18th - Wild Fire
August 20th - Local Showcase
August 27th & 28th - Gov't Mule & Trombone Shorty
Dillon Events:
August Fridays - Farmers Market
August 21st & 22nd - Adventure Van Expo
August 22nd - Movies on the Water - Rio
Copper Events:
Frisco Events:
Keystone Events:
Silverthorne Events:
August 22nd - Art Stroll
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Escape Room Breckenridge opened November 2015. It was the first one in Summit County and was started by one woman. Opening with just one room : The Hollywood Murder room. Slowly growing the escape room to 4 themed rooms and 5 employees. We are honored to have been chosen as Summit County’s #1 Indoor Activity for 2018, 2019 and 2020.
WHAT IS AN ESCAPE ROOM?
Your group, comprised of friends, family, or colleagues are locked in a room together. Your objective is to solve riddles, uncover clues and crack codes in order to escape in time. The game is designed to test your problem solving skills with friends, family or coworkers while racing against the clock.  
Posted in Market Updates
July 12, 2021

The Summit Scoop - July 2021

The Summit Scoop
The Low Down On the High Country | July 2021
Hello All,
With the recent rain we've seen a burst of amazing wildflowers all around the county. It's a great time to be in town and enjoy a hike!
We've seen restaurants and shops open without Covid restrictions, but like many parts of the Country, a labor shortage has led to some places limiting hours. If you come up and are vaccinated, masks are not required, but I would call your favorite restaurant ahead of time to make sure they're going to be open. If working in the mountains is on the short list - it's a great time to drop the resume!
As always, there is a list of upcoming events towards the bottom of this newsletter. Take a look and make some plans to enjoy an event or two.
Your Monthly Answer to: How is the Market in Summit?
Once again we continue to see buyer pressure throughout the County. Interest rates continue to be low, along with inventory. We did see inventory creep up in June, but we gave it back as July approached and we're now back to record lows. If you're a buyer in the current market, it can still be hectic. Supply comes on, but it goes quickly and multiple offers continue to be the norm. We have been working on strategies that can help keep our buyers in front of the line, while keeping them safe through the process.
Sellers are, of course, sitting in a good place right now in the current market. Multiple offers allow them to choose from a variety of proposals that are often strong in different areas. Many buyers are removing contingencies or adding appraisal gaps in offers to stay at the front of the line. As I've said in the past, price is not always king here, and a strong offer means nothing if it doesn't close.
Discussions with colleagues at the office as well as with clients is the strength of our current buyers. Anecdotally our current offers have 30% -50% more down than we were seeing 15 years ago or are full cash offers. I've talked with our title companies, and while this stat is not tracked fully, they're seeing the same thing. With Colorado growing overall, it seems Summit County has become the focus for more mature buyers. While this is pure speculation, I'm hoping our market matures as well, becoming more consistent and steady.
As always, if you need anything here in the high country, please do not hesitate to ask.
This Month's Real Estate Statistics
There were a total of 251 transactions and $268,489,073 in monetary volume in May 2021. Year-to-date monetary volume is up 304% from 2020 and transactions are up 173% from May 2020. The most active price point for May 2021 was between $1mil to $1.5mil with 43 transactions. There were 77 transactions above $1M. In May the average residential price was $1,094,995 and the average residential price per SF was $638. 
Summit County Real Estate Transactions
Average Sales Price
For 2021, the average sales as follows: 15.9% increase in Single-Family Homes, 13.9% increase in Multi-Family Homes, and 12.9% increase in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,607,119 YTD
(15.9% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $690,925 YTD
(13.9% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $416,478 YTD
(12.9% increase YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of June 30th, 2021, there were 186 active residential listings in Summit County and 31 land listings. Inventory is up 11.86% since last month which brings us to 0.83%.
 
As of June 30th, 2021, there were 601 pending sales in the County. 101 went pending in the past 2 weeks.
 
There were 467 loans in May 2021. 154 were related to sales, there were 244 REFIs and 69 loans were timeshare-related. The percentage of cash transactions for May was 39%. 
 
Demographics: In May 2021, Front Range buyers were 42% of our market, 24% were 'locals' and 34% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There was 1 Foreclosure action taken in May 2021.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
 
 
Cornerstone Real Estate Listing Updates
As of June 30th, 2021 - Prepared by Ali Weiner, Office Manager
Current Listings:
$500,000 - 2.58 acre lot at 0 Water Tank Rd in Keystone
Pendings:
$575,000 - 3BD/2BA Single Family Home at 332 Grizzly Dr. in Fairplay
$1,150,000 - 2BD/3BA Tannenbaum by the River Condo in Breckenridge
$1,150,000 - 3BD/2BA Single Family Home at 420 Clayton Rd. in Silverthorne
$1,150,000 - 4BD/3BA Single Family Home at 146 Cartier Court in Dillon
$1,395,000 - 3BD/3.5BA Campfire Mountain Townhome in Keystone
$3,000,000 - Commercial Property at 323 W Main Street in Frisco
Solds:
List Price/Sold Price
$360,000/$426,000 - .47 acres at 680 Lakeview Cir in Silverthorne
$585,000/$595,121 - 1BD/2BA Passage Point Condo in Copper
$795,000/$875,000 - 3BD/3.5BA Forest Park at Wildernest Condo in Silverthorne
$1,800,000/$1,820,000 - 4BD/4.5BA Single Family Home at 51 Wapiti Way in Keystone
Summit County Events
Arapahoe Basin Events:
July 31st - Brewfest
Dillon Amphitheater Concerts:
July 16th - Andy Frasco and the U.N.
July 17th - DeVotchKa
July 23rd - 25th - American Music Legacy Festival
July 30th - Fruition with Mipso
July 31st - Robert Earl Keen
Dillon Events:
July Fridays - Farmers Market
July 16th - 18th - Lake Dillon Arts Festival
Copper Events:
July 17th - Courage Classic
July 24th - Copper Live
Frisco Events:
Keystone Events:
July 24th-25th - River Run Art Festival
Silverthorne Events:
July 25th - Art Stroll
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Our storefront and website are dedicated to providing anyone on planet Earth with the materials they need to integrate minimal impact practices into their lifestyle. Our goal is to provide ecological solutions to everyday behaviors through education, low impact events, product replacement, and consulting practices. 
WHAT WE PROVIDE
Natural cleaning products that are healthy for both humans & the environment
Zero waste home products to reduce waste sent to landfills
Educational tools aimed at helping to adapt to a greener lifestyle
Home and business sustainability consulting
Zero waste event consulting
Green event coordination
Posted in Market Updates
June 9, 2021

The Summit Scoop - June 2021

The Summit Scoop
The Low Down On the High Country | June 2021
We've spent a month feeling somewhat normal up here in the mountains. Mask mandates have been removed, and people who have been vaccinated are allowed in most places without a mask. It's a great feeling to be out and about, visiting with friends, and taking advantage of what Summit County has to offer this season. We're very glad to be here, and while we know the last year was stressful, we're glad to see that most of our shops and restaurants made it through the ever changing rules. It's a great time to come up to the mountains and support your favorite places.
View the Latest Listings in Your Market Segment:
With covid restrictions easing, we are starting to see summer events coming back. While Frisco is not planning to hold a 4th of July parade, Breck will have their typical 4th of July events. We had our First Friday concert series start in Silverthorne over the weekend, the Dillon Amphitheater has announced concert dates and Frisco has given the green light to their Thursday night concerts, we're waiting on details. Overall, our good old summer is back, and we're very happy to have it.
As always, we hope to see you soon. Events keep springing up, so there's no reason not to be in the mountains this summer.
Take care!
Travis
Your Monthly Answer to: How is the Market in Summit?
Like last month, we continue to see high demand, with buyer's snapping up new listings almost as fast as they come on. Most properties that come on the market continue to see multiple offers, escalation clauses and sales prices over list. Quick purchases have kept inventory low, prices high, and sales numbers up over last year.
As you can imagine, it continues to be a good time to be a seller. A lot of our time as realtors is spent doing research to determine the right listing price, discussing how to deal with multiple offers, and how to adjust if initial list price is off. I can't stress enough how important it is to be prepared prior to listing. We have all of our marketing ready before listing, from professional pictures to websites so when the listing goes live it gets in front of as many buyer's as possible. In the current market atmosphere, the first offer can be in hand within hours of listing, I'll help you manage the process, through listing, offer consideration, inspection, appraisal and closing.
As always, if you need anything here in the high country, please ask.
This Month's Real Estate Statistics
There were a total of 231 transactions and $217,485,200 in monetary volume in April 2021. Year-to-date monetary volume is up 242% from 2020 and transactions are up 151% from April 2020. The most active price point for April 2021 was between $1mil to $1.5mil with 37 transactions. There were 72 transactions above $1M. In April the average residential price was $1,065,545 and the average residential price per SF was $615. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 14.4% increase in Single-Family Homes, 11.6% increase in Multi-Family Homes, and 4.3% decrease in Vacant Land. (These numbers will adjust as we get further into the year.)
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,586,128 YTD
(14.4% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $676,626 YTD
(11.6% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $352,941 YTD
4.3% decrease YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of June 2nd, 2021, there were 164 active residential listings in Summit County and 30 land listings. Inventory is up 27.63% since last month which brings us to 0.75%.
 
As of June 2nd, 2021, there were 608 pending sales in the County. 97 went pending in the past 2 weeks.
 
There were 662 loans in April 2021. 157 were related to sales, there were 367 REFIs and 138 loans were timeshare-related. The percentage of cash transactions for April was 32%. 
 
Demographics: In April 2021, Front Range buyers were 46% of our market, 25% were 'locals' and 29% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There was 1 Foreclosure action taken in April 2021 (timeshare).
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Summit County Events
Dillon Events:
June 18th - Farmers Market
June 25th - Farmers Market
Frisco Events:
Keystone Events:
June 26th-27th - Bacon and Bourbon Festival
Silverthorne Events:
June 20th - Art Stroll
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Ten Mile Blankets are custom-made pieces, designed and crafted in my home at the base of Mount Royal in Frisco, Colorado. Colorful as Colorado, they’re named after the surrounding peaks, starting with those in the Ten Mile Range of the Rocky Mountains, which begin in Frisco and ramble on towards Breckenridge. 
The designs are inspired by traditional Amish patterns, which I have always admired for being both traditional and modern at the same time.
I showed these blankets to my friends, who bought them for their homes, for wedding gifts and for the arrivals of new babies. Not your traditional light pink and light blue colors, the baby blankets are definitely warm blankets for very cool babies. 
Ten Mile Blankets are made from two layers of 100% recycled USA-made Polartec 200 weight fleece. They are super soft, cushy and machine washable.
Posted in Market Updates
May 10, 2021

The Summit Scoop - May 2021

The Summit Scoop
The Low Down On the High Country | May 2021
It's official, Summit County has finally moved into green on the COVID dial! Most of the restrictions have been lifted, although the indoor mask mandate will remain in place a little longer. With the 6ft rule eliminated, it is a big deal for Summit County restaurants to have their tables back at normal spacing and to allow seating at the bar again. Retail stores, churches, and gyms are all back to normal. The county also said the only way we would be forced to reverse on the dial, is if our hospital capacity is threatened. The entire community is looking forward to graduations, weddings, and enjoying all the celebrations that we have missed over the last year. Breckenridge announced that they will not bring back walkable Main Street. As of May 3rd, Frisco is still planning on bringing back the Pedestrian Promenade but there is chatter that it may not happen, more details should be officially released soon.
View the Latest Listings in Your Market Segment:
Ski season has come to a close with Keystone celebrating the end of it's 50th season. They had a special closing day ceremony at the Argentine lift; one of the original chairlifts installed during Keystone's 1st season. The Argentine and Peru lifts are scheduled to be removed this summer to be replaced by a 6-person lift.
Construction for Hwy 9 Gap project is kicking off on May 10th. Most of the work will take place between Frisco's Main Street and Peak One Blvd. A new roundabout will be constructed at 8th Ave, drainage improvements, and upgraded pedestrian facilities.
On May 3rd, the county released property value data, stating that residential, land, and condos are all up an average of 10%. While commercial properties increased only 3.5%, county officials stated that COVID-19 has negatively impacted commercial values during the reappraisal. Property owners can appeal their valuation during the month of May by emailing assessor@summitcountyco.gov If you are in need of advice for your property's appeal, please feel free to reach out.
Take care,
Travis
Your Monthly Answer to: How is the Market in Summit?
We've seen the uptick in listings that is typical for this time of year. So far it has been matched by demand. While our inventory remains low (sorry - I know we keep repeating this), sales for the first quarter are up almost 50% over the average for the last 5 years. The average number of days on market is almost half for the same time frame.
While the above is true, we've also seen a trend of sellers pushing the market too hard., racking up days on market, waiting for their price. Some of these listings have us shaking our heads (they're 20% over market value) while watching closely to see if the strategy has merit. There are always these types of outliers in the market, but I think the current demand is tempting sellers to get too greedy. The old saying of bulls, bears and pigs still holds true.
If you have any questions, need a plumber or a good restaurant recommendation, please reach out. I'm always happy to help!
This Month's Real Estate Statistics
There were a total of 260 transactions and $226,309,300 in monetary volume in March 2021. Year-to-date monetary volume is up 127% from 2020 and transactions are up 95% from March 2020 (*last March - Pandemic Shut Down started March 15th). The most active price point for March 2021 was between $1mil to $1.5mil with 29 transactions. There were 62 transactions above $1M. In March the average residential price was $1,001,967 and the average residential price per SF was $618. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 10.6% increase in Single-Family Homes, 6.6% increase in Multi-Family Homes, and 7.3% decrease in Vacant Land. (These numbers will adjust as we get further into the year.)
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,533,466 YTD
(10.6% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $646,569 YTD
(6.8% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $342,075 YTD
7.3% decrease YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of May 3rd, 2021, there were 130 active residential listings in Summit County and 22 land listings. Inventory is down just 0.65% since last month.
 
As of May 3rd, 2021, there were 612 pending sales in the County. 99 went pending in the past 2 weeks.
 
There were 823 loans in March 2021. 169 were related to sales, there were 462 REFIs and 192 loans were timeshare-related. The percentage of cash transactions for March was 35%. 
 
Demographics: In March 2021, Front Range buyers were 47% of our market, 18% were 'locals' and 35% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There was 1 Foreclosure actions taken in March 2021 (timeshare).
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Keep your garden healthy and beautiful this summer!
Looking to come back to their well manicured home this summer?
Whether it's creating living art, starting a simple herb garden
or maintaining your current landscaping, it's time to start thinking
about those garden spaces.
Services provided
Fertilization
Weeding & Deadheading
Planting
Wildflower Seeding
Mulching
Winterization
Call or email for an estimate.
Reasonably priced and ready for business!
TaraGardenGnome@gmail.com (970) 485-1723
Posted in Market Updates
April 8, 2021

The Summit Scoop - April 2021

The Summit Scoop
The Low Down On the High Country | April 2021
Well - we have survived the spring break tourism and the epic Colorado blizzard that was predicted to dump feet of snow. It somehow ended up only grazing us and hitting the Denver Metro area hard. We had some beautifully sunny weather for Easter weekend and while group events didn't happen, the intake of vitamin D kept us smiling. Local restaurants are ready for outdoor seating to be a regular thing again as summer approaches. Over half of Summit County residents have had at least one dose of the vaccine, with many getting their second and while we've seen a ramp up in cases of the COVID variant, we're hopeful that we will soon be trending in the correct direction on the COVID dial. Our Colorado Governor, Jared Polis, announced that we have one more month left of the mask mandates and the dial, so we have a wonderful summer season to look forward too.
Next season ski passes have gone all sale with discounted rates for early purchase for both Vail Resort’s Epic Pass and the Ikon Pass. Arapahoe Basin has shocked locals by announcing that they will cap its number of season passes for next winter to 10% fewer than were sold for this season.
The local Rotary Club has launched the annual Dillon Ice Melt Contest, which is always fun to enter and proceeds go towards supporting the many Rotary Club of Summit County’s numerous national and international endeavors. If you have never played, it is a game of guessing what time and date the ice clock will fall through the ice of Lake Dillon, officially starting our summer season. You can buy 5 entries for $20 and first place price is $4,000. More info on this in our "spotlight" section below.
Here's to some light at the end of the COVID tunnel!!
Take care,
Travis
Your Monthly Answer to: How is the Market in Summit?
Month after month we've been talking about high demand, low inventory and a seller's market. This still holds true, but we are hoping for an increase in properties on the market as the ski season wraps up. We've seen the volume of sales continue to rise, so I believe the supply will be soaked up by demand.
We continue to see multiple offers on properties that are priced well. Anecdotally, I had a buyer lose out on a 3 bedroom townhome recently, he offered cash, flexible closing date and was willing to go over list by $50K. The seller had 5 offers the day after going on the market, all were full price or better and our offer was beat out. In the end we felt as good as we could, we put our best offer on the table, but it still stinks to get beat when you're cash and over asking!
If you have any questions about the current market or need help with anything, please reach out. I'm always happy to help!
This Month's Real Estate Statistics
There were a total of 151 transactions and $132,914,988 in monetary volume in February 2021. Year to date monetary volume is up 23% from 2020 and transactions are up 20% from January 2020. The most active price point for February 2021 was between $400k to $500K with 20 transactions. There were 34 transactions above $1M. In February the average residential price was $1,011,617 and the average residential price per SF was $588. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 5.7% increase in Single-Family Homes, 9.8% increase in Multi-Family Homes, and 12.6% decrease in Vacant Land. (These numbers will adjust as we get further into the year.)
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,465,299 YTD
(5.7% increase YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $665,887 YTD
(9.8% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $322,203 YTD
12.6% decrease YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
 
 
Cornerstone Real Estate Listing Updates
As of April 2nd, 2021
Solds:
$464,000 - 1BD/1BA Condo at Silver Mill in Keystone
$528,000 - 2.62 acres at 188 Point View Place in Breckenridge
$880,000 - 2BD/3BA Single Family Home at Cabins in the Pines in Keystone
Summit County Events
Arapahoe Basin Events:
April 14th - 32nd Annual Enduro
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Lake Dillon Ice Melt
The Lake Dillon Ice Melt is one of Summit Rotary’s flagship fundraisers.
For the uninitiated, here’s how it works: every year we haul a giant drum out to the
middle of Lake Dillon. Attached to said drum are watches. When the ice gives way,
the clocks go under water and stop working. Locals, visitors, and other astute guessers (such as yourself!) use a mixture of past drop-times, skill, and luck to predict the exact time the clock will drop.
 
  • The grand prize winner gets $4,000 and priceless bragging rights.
  • Second place gets $2000 and slightly-less-priceless bragging rights.
  • Third place gets a cool $1000.
100% of all proceeds go towards supporting the many Rotary Club of Summit County’s numerous national and international endeavors. Please look through the rest of the website for details on these projects.
For updates on the clock’s status, please check www.DillonIceMelt.com, or like the Summit County Rotary Club on Facebook. We thank you for supporting The Rotary Club of Summit County and doing your part to help us help the community!
Sale ends April 19th!
Posted in Market Updates
March 25, 2021

The Summit Scoop - March 2021

The Summit Scoop
The Low Down On the High Country | March 2021
Wow, March is already here and spring has sprung in Summit County. Were all enjoying sunshine and spring skiing conditions. It is sombering to think, that the pandemic will hit it’s 1 year mark next week, with vacationers flocking in to enjoy their spring break they were denied last season. United Airlines is kicking off it’s direct transportation to Breckenridge from Denver International Airport later this week. They are offering a bus to pick up guests from the concourse and handle their baggage transportation. United customers will not have to deal with airport trams, baggage claims, or airport shuttles. This should help ease traffic on I-70 for vacationers.
Summit County is persevering with reports of 21% of residents being vaccinated. Dillon and Silverthorne reported opening more businesses than closing businesses, throughout the pandemic. We have also reached level yellow on the COVID dial, with businesses in the 5-star program being classified under level blue. This allows for 50% capacity at restaurants and gyms. Restaurants are at a standstill though, because tables are still required to be 6-foot-apart and restaurants are out of room to expand. However, there is a significant interest in our mountain towns reopening walkable main streets to allow for restaurants to seat guests outdoors.
Community morale is up and we are Summit County strong. Last week, we helped host a youth hockey fundraiser and the turnout was phenomenal raising $45,000 to help kids play hockey. We have more Summit County youngsters crushing it right now in sports with HS seniors celebrating basketball wins and records being broken by a 19 year old local in ski mountaineering world championships and the first ever double back flip by a snowboarder on Corbets Coulior. 
Take care,
Travis
Your Monthly Answer to: How is the Market in Summit?
While we remain in a Seller's market, we have seen an small increase in properties coming up for sale. Pent up demand scoops them up quickly, but we are getting more deals getting done than this time last year. Demand still outpaces supply, and prices continue to rise.
On another note, the price of lumber has gone up, close to double that of this time last year. Covid and low interest rates increased demand on materials at a time when suppliers misread the covid implications and cut production. What does this have to do with the real estate market? Remodels and new builds are going to be more expensive until suppliers have a chance to catch up. We can't build our way out of our real estate supply problem; you may want to put off major remodels.
As always, I'm here to help - whether it's a plumber referral, time to make a move, or just look for a good place to eat. Please reach out if you need anything,
Ray
This Month's Real Estate Statistics
There were a total of 160 transactions and $129,958,844 in monetary volume in January 2021. Year to date monetary volume is up 32% from 2020 and transactions are up 19% from January 2020. The most active price point for January 2021 was between $1mil to $1.5mil with 20 transactions. There were 34 transactions above $1M. In January the average residential price was $911,169 and the average residential price per SF was $594. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2021, the average sales as follows: 7.6% decrease in Single-Family Homes, 13.2% increase in Multi-Family Homes, and 38.4% decrease in Vacant Land. (These numbers will adjust as we get further into the year.)
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
2021 - $1,281,004 YTD
(7.6% decrease YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
2021 - $686,459 YTD
(13.2% increase YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
2021 - $227,375 YTD
(37.4decrease YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of March1st, 2021, there were 134 active residential listings in Summit County and 21 land listings. Inventory is down another 12.92% since last month.
 
As of March 1st, 2021, there were 583 pending sales in the County. 96 went pending in the past 2 weeks.
 
There were 607 loans in January 2021. 111 were related to sales, there were 366 REFIs and 130 loans were timeshare-related. The percentage of cash transactions for January was 31%. 
 
Demographics: In January 2021, Front Range buyers were 44% of our market, 21% were 'locals' and 35% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There were 11 Foreclosure action taken in January 2020 (10 timeshares).
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Want direct access to the MLS?
Get your own login!
Whether you are looking to buy or you need help selling your current property, we can give you the local knowledge and expertise you need to make the best decision.  
 
With our MLS I can create a personal website just for you that gives you direct access to the Summit County MLS without having to log in.  Searching the MLS allows you to see the most up to date and accurate information possible, since that is the same database that the Summit Realtors use. You will also be able to Save your favorite listings, and I can set it up to send you emails immediately when new listings come on the market that match your criteria.
 
Cornerstone Real Estate Listing Updates
As of March 1st, 2020
Solds:
$265,000 - 0BD/1BA Condo at Slopeside in Keystone
$290,635 - 1BD/1BA Condo at Hidden River Lodge in Keystone
$575,000 - 2BD/2BA Condo at Snowbridge Square in Copper
$888,000 - 4BD/3BA Condo at Trappers Crossing in Keystone
$950,000 - 3BD/3BA Single Family Home at 30 Skiers View Court #2 in Keystone
$2,500,000 - 9,155sqft Commercial Space/Office Building at 301 W Main St in Frisco
Summit County Events
Frisco Events:
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Frisco Nordic Center
The Frisco Nordic Center is just minutes from Frisco’s charming Main Street, offering an excellent high altitude facility for skate skiing, classic cross-country skiing and even snowshoeing, all with exceptional views of peaks in every direction.
The Center offers 30 km of ski trails, 10 km of snowshoe trails, rentals, skate or classic lessons and ski tuning 7 days a week from their cozy cabin located on the Peninsula Recreation Area. The Frisco Nordic Center is also just steps from the Frisco Adventure Parks’ tubing hill and beginner ski/ride hill. For terrain, programs, hours and contact information, visit the page below.
Posted in Market Updates
Feb. 18, 2021

The Summit Scoop - February 2021

The Summit Scoop
The Low Down On the High Country | February 2021
February 2021 has started off great. Ullr blessed us with up to 2 feet of snow over the last weekend, and while that meant shoveling snow at home, it also lead to the best days on the mountain this season. With more snow forecasted in the upcoming week, the county is teeming with excitement.
The good news continues throughout the county as we have been upgraded to orange on the Covid scale. This allows businesses to open up a little more, gatherings of up to 10 people from up to 2 different households. It looks like 5 star restaurants will be moved up to yellow, which will allow for dining at 50% capacity. While this doesn't seem like much, it is a step in the right direction. I'm hopeful this will continue and we will be back to "normal" soon. In the meantime, help out and stay safe!
I hope this email finds everyone well and look forward to seeing you soon here in the mountains!
Your Monthly Answer to: How is the Market in Summit?
Once again I need to point out that it is a seller's market. Inventory remains below 1%, multiple offers are the norm on properties that are priced well.
You've heard this for a while, but what does it really mean? According to our 3 day market watch, we've had 17 new listings, and 34 properties go under contract. There are a total of 50 non deed-restricted units in Breck, 4 in Copper, 16 in Keystone, 4 in Frisco and 7 in the Dillon/Summit Cove area. I point this out to give some real numbers to "less than 1% inventory".
On top of the low inventory, we have immense competition for new listings. The multiple offer situation has been very tough to negotiate and it's important to have experience on your side whether your a buyer or a seller. Even with a good realtor, the process can be emotional and stressful. If you're think of making a change with real estate here in the high country, please reach out, I'm always happy to help.
This Month's Real Estate Statistics
There were a total of 283 transactions and $236,644,433 in monetary volume in December 2020. The total transactions for 2020 were 2,800, with $2,319,029,219 in monetary volume (record high). 2020 total monetary volume is up 22% from 2019 and transactions are up 15%. The most active price point for December 2020 was between $1mil to $1.5mil with 40 transactions. There were 69 transactions above $1M. In December the average residential price was $891,305 and the average residential price per SF was $582. For full 2020 stats visit HERE.
Summit County Real Estate Transactions
Average Sales Price
 
For 2020, the average sales as follows: 9.8% increase in Single-Family Homes, 8.3% increase in Multi-Family Homes, and 6.9% increase in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,386,525
(9.0% increase from 2019)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $606,487
(8.3% increase from 2019)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $368,859
(0.4% increase from 2019)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2020. (click to enlarge)
Summit County Real Estate Inventory
As of February 1st, 2021, there were 156 active residential listings in Summit County and 22 land listings. Inventory is down another 9.64% since last month.
 
As of February 1st, 2021, there were 527 pending sales in the County. 90 went pending in the past 2 weeks.
 
There were 745 loans in December 2020. 187 were related to sales, there were 398 REFIs and 160 loans were timeshare-related. The percentage of cash transactions for December was 34%. Total percentage of cash transactions for 2020 was 31%.
 
Demographics: In December 2020, Front Range buyers were 53% of our market, 16% were 'locals' and 30% were out-of-state buyers. 0% of buyers were International. 2020 buyer demographic's continue to shift from years past with an increase to 47% Front Range ( 42% in 2019), 21%"local" ( 29% in 2019) and 32% out of state ( 29% in 2019) and 0% International. 
 
Foreclosures: There were 16 Foreclosure action taken in December 2020 (all timeshares) and 42 total in 2020, with only 9 going to PTD.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Want direct access to the MLS?
Get your own login!
Whether you are looking to buy or you need help selling your current property, we can give you the local knowledge and expertise you need to make the best decision.  
 
With our MLS I can create a personal website just for you that gives you direct access to the Summit County MLS without having to log in.  Searching the MLS allows you to see the most up to date and accurate information possible, since that is the same database that the Summit Realtors use. You will also be able to Save your favorite listings, and I can set it up to send you emails immediately when new listings come on the market that match your criteria.
 
Cornerstone Real Estate Listing Updates
As of February 1st, 2020
New Listings:
None
Price Decreases:
None
Solds:
$309,000 - 1BD/1BA Springs at River Run in Keystone
$490,000 - .61 Acre Lot at 1445 Golden Eagle Rd in Silverthorne
Summit County Events
Arapahoe Basin Events:
February 9th-12th- Rise and Shine Rando Series #3
February 23rd-26th- Rise and Shine Rando Series #4
Frisco Events:
February 21st-24th- Up and At 'Em Ski Race #3
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Sisters Ariel and Alison Johnston own and operate Everything Colorado, a souvenir shop that sells more than just the same-old T-shirts you can find anywhere. 
Everything Colorado is a gift, souvenir and gelato store in the shopping strip across from City Market in Dillon. The store carries everything from Colorado logo-imprinted shirts and hats, to designs from local artisans, bath products and fair trade clothing. There are many gift ideas here for everyone in the family. 
Posted in Market Updates
Jan. 22, 2021

The Summit Scoop - January 2021

The Summit Scoop
The Low Down On the High Country | January 2021
Welcome to 2021! 2020 was a year we are ready to put behind us, and we are very excited to see the new year start. We're ready to get over the Covid hump and are hoping to return to business as usual this year. We've been working hard to do our best to keep people safe and it looks like there is a light at the end of the tunnel.
The county has started a 5 star business certification program that has allowed our businesses to re-open after an inspection from the county. With this program, most of the county is open again and we're excited to get out and support our community. Frisco is still offering the Love Frisco program, so enjoy dinner and shopping on the town! If you're renting, the county has new rules in place with stiff fines - make sure you know and follow them.
As usual for this time of the year, ski areas are open, nordic skiing, ice skating, and tubing as well. If you're planning a trip, there is plenty to do, but make sure you make reservations, follow local guidelines and have a great safe trip!
Take care,
Travis
Your Monthly Answer to: How is the Market in Summit?
Low inventory, low interest rates and high demand continue to be the norm. We are working hard to provide our buyers with strong strategies to stay in front of the pack when we find ourselves in multiple offer situations. We've worked hard in the past to maintain a good reputation in Summit County real estate brokerage, and it's times like these that it pays off.
If you're thinking of selling, our current practices encourage strong marketing out of the gate to drum up demand, pricing to see multiple offers, and negotiating the best deal possible. The best deal may not always be the offer with the highest price, or even the cash offer, many times there are other variables to consider.
We'll have year end stats for 2020 once they are released and will include them in the next Summit Scoop. If you have questions regrading a specific property or neighborhood please feel free to reach out. I'm happy to provide price evaluations, update you on interest rates or provide a recommendation for a local service provider. Call or email with any questions you have regarding Summit.
For everyone with a personalized MLS search on SummitRealEstateGuide.com, please use the link above to access your latest search results. If you do not yet have a personalized search setup, please notify me by phone or Email.
This Month's Real Estate Statistics
There were a total of 394 transactions and $355,464,800 in monetary volume in November 2020. Year to date monetary volume is up 21% from 2019 and YTD transactions are up 14%. The most active price point for November 2020 was between $1mil to $1.5mil with 52 transactions. There were 101 transactions above $1M. In November the average residential price was $904,779 and the average residential price per SF was $525. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2020, the average sales prices year-to-date are as follows: 9.0% increase in Single-Family Homes, 8.0% increase in Multi-Family Homes, and 0.4% increase in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,376,229
(9.0% increase - YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $604,629
(8.0% increase - YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $346,417
(0.4% increase - YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2019. (click to enlarge)
Summit County Real Estate Inventory
As of January 2nd, 2021, there were 158 active residential listings in Summit County and 39 land listings. Inventory is down another 17.6% since last month.
 
As of January 2nd, 2021, there were 490 pending sales in the County. 67 went pending in the past 2 weeks.
 
There were 810 loans in November 2020. 272 were related to sales, there were 337 REFIs and 201 loans were timeshare-related. The percentage of cash transactions for November was 31%.  
 
Demographics: In November 2020, Front Range buyers were 47% of our market, 20% were 'locals' and 32% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There were 1 Foreclosure action taken in November 2020 and 26 total YTD.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Summit County Events
Arapahoe Basin Events:
January 26th-29th- Rise and Shine Rando Series #2
Copper Events:
Dew Tour - CANCELLED
Dillon Events:
January - Ice Castles
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Wilderness Sports
Wilderness Sports is a backcountry ski and bike shop. Through a wide selection
of high quality gear, knowledgeable and friendly staff, and education, we provide
outdoor enthusiasts of all skill levels with the tools needed for a fun and safe
experience in the outdoors.
Our primary goal is to help you accomplish your goals! Whether you’re learning
a new sport, improving your skills, or preparing for a race or epic adventure, we will
help you out along the way. We are thrilled to be a part of your journey!
The first step is making sure you have the right gear. We hand pick a wide selection
of only the best products to meet all your needs, no matter your budget.
Step two is maintaining your gear. At Wilderness you will find a full service bike
shop in the summer, and ski tune shop in the winter. Our shop techs are highly
skilled problem-solvers, offering the best service in Summit County! We are here
to help you keep your equipment in the best condition.
Posted in Market Updates
Dec. 7, 2020

The Summit Scoop - December 2020

The Summit Scoop
The Latest on Real Estate in the High Country | December 2020
Hello All,
Winter is in full swing here in the high country and we've been excited to get outside to stretch our legs and get moving. It's been cold, with temps ranging from the 30s to below zero at night. While this is great for making snow, it's been a little cold for play after the sun goes down and we are looking forward to warmer temps going forward.
Once again, Covid is playing a big factor in our day to day living. We are currently coded red by the state which has shut down restaurants and limited other businesses to 10% capacity. The short term rental industry has seen changes as well, with new rules limiting any rentals to included only one household group. If you're planning on coming up, please take a look at the rules for rentals and ski areas to make sure your trip goes as planned. Recent testing numbers have improved, and we're hoping to keep going in a positive direction until we have a long term solution.
Local government has stepped up to help support the local economy. Breckenridge has pledge $1M for restaurant rent payments as well as rent support for employees in need. Frisco has once again opened up it's "Love Frisco" program which does a partial match on gift cards to be used at local shops. Please see LoveFriscoCO.com for more info.
Take care,
Travis
Your Monthly Answer to: How is the Market in Summit?
It's still a seller's market and inventory continues to drop. It's currently below 1% which is a number we have not seen since we've been recording it as a company (since 2009). We've seen some new strategies in play with buyer's trying to get or stay in first positions on properties that are priced to sell.
Seller's that are pricing correctly in this market are generally rewarded with multiple offers, often getting sales prices over asking. It ends up more like an auction, with strong bidding and a deal often struck in 24-36 hours. Once again, it is not always the highest bidder who wins, many sellers choose the offer that is best when considering price and terms.
Overall, number of sales is up around 12% over the previous 4 years. I believe this is due to Covid, low interest rates, stock market gains and a raise in Colorado population overall. Anecdotally, the buyers I see are putting more down or paying cash, and prioritizing locations to spend quality time with their friends and families. It's hard to predict what will happen in the future, but I believe the long term trend will be graphs going up as they go to the right.
Whether your a buyer or a seller, or are just interested in some market knowledge, we're here to help. Please feel free to reach out with any questions you have. In the mean time, enjoy the winter - look forward to seeing you soon.
This Month's Real Estate Statistics
There were a total of 442 transactions (breaking last month's record and now highest recorded transactions in one month ) and $360,036,310 in monetary volume in October 2020. Year to date monetary volume is up 12% from 2019 and YTD transactions are up 7%. The most active price point for October 2020 was between $500k to $600k with 52 transactions. There were 95 transactions above $1M. In October the average residential price was $907,528 and the average residential price per SF was $527. 
Summit County Real Estate Transactions
Average Sales Price
 
For 2020, the average sales prices year-to-date are as follows: 6.9% increase in Single-Family Homes, 7.5% increase in Multi-Family Homes, and 1.6% decrease in Vacant Land.
Single Family Homes 
2006 - $737,253
2007 - $798,889
2008 - $835,803
2009 - $905,030
2010 - $770,797
2011 - $734,262
2012 - $764,445
2013 - $751,240
2014 - $784,779
2015 - $855,925 
2016 - $934,163 
2017 - $1,087,893 
2018 - $1,142,905
2019 - $1,262,929
2020 - $1,349,741
(6.9% increase - YTD)
Multi Family Homes 
2006 - $333,501
2007 - $406,529
2008 - $463,633
2009 - $398,051
2010 - $425,080
2011 - $367,280
2012 - $353,339
2013 - $344,578
2014 - $357,612
2015 - $399,232 
2016 - $409,673  
2017 - $473,862 
2018 - $523,519
2019 - $559,776
2020 - $601,687
(7.5% increase - YTD)
Vacant Land
2006 - $311,951
2007 - $391,587
2008 - $470,260
2009 - $399,025
2010 - $336,625
2011 - $246,478
2012 - $309,512
2013 - $324,137
2014 - $318,230
2015 - $372,794 
2016 - $353,500  
2017 - $323,692 
2018 - $366,814
2019 - $344,945
2020 - $339,415
(1.6% decrease - YTD)
If you are wondering what prices have done in Summit County over the long term, here is a graph of the average residential price from 1988-2019. (click to enlarge)
Summit County Real Estate Inventory
As of December 1st, 2020, there were 183 active residential listings in Summit County and 56 land listings. Inventory is down another 20% since last month.
 
As of December 1st, 2020, there were 567 pending sales in the County. 65 went pending in the past 2 weeks.
 
There were 738 loans in October 2020. 322 were related to sales, there were 383 REFIs and 33 loans were timeshare-related. The percentage of cash transactions for October was 27%.  
 
Demographics: In October 2020, Front Range buyers were 45% of our market, 19% were 'locals' and 36% were out-of-state buyers. 0% of buyers were International.
 
Foreclosures: There were 1 Foreclosure action taken in October 2020 and 25 total YTD.
At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to you."
Summit County Real Estate and COVID-19
Below is a snapshot of new and sold listings (residential, shared interest properties and land) over the past 5 years. We have been tracking trends since the shutdown due to COVID-19, and since buyers and sellers are back on track, we wanted to showcase a comparison of the market over the past 5 years. This shows a bigger picture of how COVID-19 has effected our market in terms of new listings and sales.
*This data is pulled from the MLS which allows us to have the most up to date stats
though may be slightly different from the title companies monthly statistic reports*
Want direct access to the MLS?
Get your own login!
Whether you are looking to buy or you need help selling your current property, we can give you the local knowledge and expertise you need to make the best decision.  
 
With our MLS I can create a personal website just for you that gives you direct access to the Summit County MLS without having to log in.  Searching the MLS allows you to see the most up to date and accurate information possible, since that is the same database that the Summit Realtors use. You will also be able to Save your favorite listings, and I can set it up to send you emails immediately when new listings come on the market that match your criteria.
Summit County Events
Arapahoe Basin Events:
Open for 2020/2021 ski season
Breckenridge Events:
Open for 2020/2021 ski season
December 9th-19th - Ullr fest canceled
Copper Events:
Open for 2020/2021 ski season
Frisco Events:
Keystone Events:
Open for 2020/2021 ski season
Loveland Events:
Open for 2020/2021 ski season
Fresh off the Press - The Latest News in Summit
Local Business Spotlight
Breckenridge Nordic Center
Family owned and operated!
Experience the joy of gliding across snow through Legend forests with soaring mountain views. Any age, any ability, all levels of fitness.
The Breckenridge Nordic Center is a chance to get away from it all and experience the joy of gliding across snow through quiet, beautiful forests with expansive views of the mountains surrounding Breckenridge.
It’s a great place to get outdoors and enjoy time with family and friends. Whatever your ability or athletic levels are, you can tailor your time to create what you feel like doing in the moment. Whether it’s cross country skiing, or snowshoeing, you can spend as little as an hour out on the trails or all day by choosing the distance and terrain you’d like to explore.
After a day’s adventure on our freshly groomed trails, take time to unwind in our beautiful lodge. We have delicious food and drink specials and you can bask in the warmth of our large stone fireplace in our family style lounge area. ­­
Travis Williams
Realtor®
(970) 409-7596
Travis@SummitRealEstateGuide.com
Serving Buyers and Sellers in Summit County
60A Main Street Frisco, CO 804434
23110 US Hwy 6 Keystone, CO 80435
Posted in Market Updates