Summit County Colorado Still a Great investment
Wow, another great year here in ski country USA. 2007 was an exciting year for real estate in Summit County Colorado. Breckenridge, Keystone, Frisco, Silverthorne, & Dillon continue to see strong sales.
Dollar volume dipped for the first time in several years. This was mostly attributed to the financial crunch we experienced starting in August through the end of they year and the low availability of properties on the market and also followed other major resort areas that experienced similar behavior. Since most areas in Summit County require jumbo loans we too felt the effects here. Most of the year transaction volume was up with the exception of September & October the heart of the banking crisis.
Due to low land availability and many owners holding on to properties here we will continue to see a tight market for available homes to purchase. Total build out in Summit county is still forecast for 4-7 years from now and will continue to put upside pressure on home and property appreciation throughout the heart of the county.
Both the average and median real estate transaction price continued to climb throughout Summit County for all of 2007.
Overall 2008 looks to be another record year for Summit County Colorado. We still are considered significantly undervalued compared to our fellow Colorado Ski areas Aspen and Vail. We are forecasting continued property appreciation and an overall tight supply of homes on the market for 2008.
Below are the numbers for Summit County Colorado by transaction:
| Area | $ Volume Transactions | % of $ Volume | # of Transactions | % of Transactions | Average $ Transaction Price |
| Blue River & South to County Line | $74,115,200 | 5% | 175 | 5% | $423,515 |
| Breckenridge | $463,567,200 | 28% | 699 | 22% | $663,186 |
| Breckenridge Golf Course | $140,982,900 | 9% | 235 | 7% | $599,927 |
| Central Summit County (non-town) | $0 | 0% | 0 | 0% | $0 |
| Copper Mountain | $82,457,700 | 5% | 192 | 6% | $429,467 |
| Corinthian Hills & Summerwood | $15,191,900 | 1% | 24 | 1% | $632,996 |
| Dillon Town & Lake | $48,444,300 | 3% | 128 | 4% | $378,471 |
| Dillon Valley | $30,061,800 | 2% | 143 | 4% | $210,222 |
| Farmers Corner | $14,890,100 | 1% | 27 | 1% | $551,485 |
| Frisco | $152,536,600 | 9% | 290 | 9% | $525,988 |
| Heeney | $1,460,500 | 0% | 9 | 0% | $162,278 |
| Keystone | $209,454,400 | 13% | 473 | 15% | $442,821 |
| Montezuma | $3,716,700 | 0% | 9 | 0% | $412,967 |
| North Summit County (rural) | $22,570,000 | 1% | 21 | 1% | $1,074,762 |
| Peak 7 | $19,605,200 | 1% | 35 | 1% | $560,149 |
| Silverthorne | $171,250,600 | 11% | 283 | 9% | $605,126 |
| Summit Cove | $61,051,900 | 4% | 140 | 4% | $436,085 |
| Wildernest | $84,853,200 | 5% | 250 | 8% | $339,413 |
| Woodmoor | $34,519,600 | 2% | 67 | 2% | $515,218 |
| Misc. & Out of County | $0 | 0% | 0 | 0% | $0 |
| TOTAL | $1,630,729,800 | 100.00% | 3200 | 100.00% | $509,603 |
Below is a cost break down of Summit County Colorado by sales amount. Condos make up the primary transactions for $200,000 through $500,000. Single family residences make up the primary transactions from $1,000,000 and above and represents a combined 25% of the marketplace.
| Cost Breakdown Summit County | ||||
| Year to Date (12 months) | ||||
| Residential Improved Units Only | ||||
| Home Sale | # of Transactions | Total Dollar Volume | Percentage Gross | Average Sales Price |
| <=200,000 | 295 | $ 45,440,100 | 3% | $ 154,034 |
| 200,001 to 300,000 | 449 | $ 114,552,800 | 8% | $ 255,129 |
| 300,001 to 400,000 | 500 | $ 176,579,700 | 13% | $ 353,159 |
| 400,001 to 500,000 | 388 | $ 173,222,300 | 13% | $ 446,449 |
| 500,001 to 600,000 | 230 | $ 127,483,200 | 9% | $ 554,275 |
| 600,001 to 700,000 | 209 | $ 136,264,800 | 10% | $ 651,985 |
| 700,001 to 800,000 | 121 | $ 91,396,600 | 7% | $ 755,344 |
| 800,001 to 900,000 | 100 | $ 85,002,800 | 6% | $ 850,028 |
| 900,001 to 1,000,000 | 73 | $ 69,944,200 | 5% | $ 958,140 |
| 1,000,001 to 1,500,000 | 127 | $ 157,295,200 | 12% | $ 1,238,545 |
| 1,500,001 to 2,000,000 | 57 | $ 99,918,900 | 7% | $ 1,752,963 |
| 2,000,001 to 2,500,000 | 18 | $ 39,720,000 | 3% | $ 2,206,667 |
| 2,500,001 to 3,000,000 | 6 | $ 16,200,000 | 1% | $ 2,700,000 |
| over $ 3 Million | 8 | $ 30,430,000 | 2% | $ 3,803,750 |
| Total | 2581 | $ 1,363,450,600 | 100% | $ 528,264 |
Below is a 20 year average price index for Summit County Colorado. As you can see Summit County Colorado continues to outperform the overall US market.
free no obligation Summit County Colorado are information and complete home search click here.
Jason and Deanna are local Real Estate brokers in the Summit County area and focus on Second, Investment and Retirement homes.
http://www.ski-homes-breckenridge.com/
All data is deemed accurate but not guaranteed.
