Keystone Market Update

Keystone is where you will have good choices if you are looking for a resort condo. The River Run Village area at the base of the mountain is very popular. The units are all newer, built since 1996 and within an easy walk to the Gondola. One bedroom units start at $258,700, two bedrooms at $399,900. Nearby is a one bedroom in River Bank Lodge for $230,000. If you are looking for more for your money, the older complexes offer nice big floor plans and lower prices. In the Pines complex there is a two bedroom unit that is listed for $299,900. The numbers for all the condos and townhomes in Keystone are: 231 active, 7 pending and 105 sold in the last year.

Keystone homes and half duplexes start at $319,900. and go up to $5,700,000. Right now there are 58 homes listed for sale. Many of those homes are in Keystone Ranch backing to the golf course. In lasts 12 months thirteen homes have sold 9 of those were a million or more. Every week I put together a list of everything for sale in Keystone and Summit County, let me know and I can email it to you. You can also search the Summit County MLS from my web site.

The small mining town of Montezuma is east of Keystone about 10 miles. Homes and lots for sale appear in the Summit County MLS under the Keystone area. Right now there is only one cabin (no running water), it’s on five acres and is listed for $149,900. There are several lots, for a property that could be developed, prices start at $275,000 and go up to $490,000 (almost 2 acres backing to the Snake River).

Frisco Market Update

There are 120 condos and townhomes on the market, of those 23 have been built in the last couple years or have yet to be built. The lowest price for an existing condo (not deed restricted) is a studio unit for $155,900. There are 50 units for sale under 400K. Prices go up to $1,320,000 for a new three bedroom in Latitude 39. Twelve condos and townhomes are pending and in the last year 53 have sold.

In single family homes and half duplexes seventy are for sale the prices range from $469,900 to $2,750,000. In the last year 21 single family homes and half duplexes have sold with prices ranging from $385,000 to $1,560,000.

Let me know if you would like more information on any of these properties. I have a lot of information on Frisco condos on my web site. Here’s a link to the page. Every week I print out a list of everything for sale in Frisco and Summit County, let me know if you would like a copy. To get the latest info, search the mls from my web site.

Dillon Area Market Update

Dillon has several price points. In Dillon Valley East and West Condos there are thirty-four units on the market. The lowest priced is a studio unit for $124,500. In the town of Dillon near the lake there is a shortage of condo options. The lowest priced is a cute one bedroom in Yacht Club for $187,000. Prices go up to $1,099,000 for a four bedroom condo at Summer Ridge.

Very few single family homes are for sale in the town of Dillon, but the surrounding neighborhoods of Dillon Valley, Summit Cove, Soda Creek and Whispering Pines have many options. There are 74 active listings of half duplexes and single family homes in the Dillon area. Of those the lowest price is $329,000 for a three bedroom A-frame in Dillon Valley. Twelve homes are listed for a million or more. Seven homes are currently pending. Looking back over the last year, 35 single family homes and half duplexes have sold, the lowest price was $299,900, nine sold between 3 and 4 hundred thousand and two over a million.

You would have several choices in vacant lots in the Dillon area. Currently there are twenty-six on the market. The prices range from $174,900 for a half acre lot above Dillon Valley to $399,000 for a building site in Summerwood. Only four lots sold this past year with prices from $180,000 to $299,000. Let me know if you would like more information on any of these properties. Every week I print out a list of everything for sale in Dillon and Summit County, let me know if you would like a copy. To get the latest info, search the mls from my web site.

Silverthorne Market Update

Here’s what’s going on in the Silverthorne real estate market. In general Silverthorne and the Wildernest area are where you will get the most for your money in Summit County. The lowest price for a condo is $1139,900, it's a studio unit in Riverbend Condos. Right now 158 condos and townhomes are currently for sale in Silverthorne including Wildernest (above Silverthorne to the west). Prices go up to $779,000 for a new three bedroom townhome. Fourteen are pending and 109 have sold last year. Those prices ranged from $110,000 for a studio condo up to $590,000 for a three bedroom townhome built in 1999.

This year the market for single family homes and half duplexes has slowed down; what a great buyer’s opportunity with lower interest rates and lots of choices. There are 190 homes and half duplexes for sale in the Silverthorne area. The prices on homes range from $285,000 to $3,995,000, seven are pending. Seventy-eight homes have sold in the last year, prices from $295,000 to $2,550,000.

If you are willing to drive north of Silverthorne about 30 miles to Blue Valley Acres which is just into Grand County you can get a lot more for your money. Right now there are eight homes for sale in Blue Valley Acres. Prices start at $227,500. and go up to $399,999.

In the Heeney/Green Mountain Reservoir area (24 miles north of Silverthorne) there are eight properties for sale, from a small one bedroom cabin on two lots for $179,000 to a 5 bedroom home just steps from the lake for $570,000. I have a couple neat cabins for $295,000 and $395,000. Here’s a link to that property info. After years of virtually nothing for sale now it the most I’ve ever seen at one time.

You have many options in building sites in Silverthorne. Prices run from $190,000 for a quarter of an acre north in Fox Valley at the Raven and go up to $619,000 for over an acre in the Three Peaks subdivision. About 10 miles north of Silverthorne up Boulder Creek is almost half an acre for $119,900. If you are looking for larger acreage the lowest price is $349,900 for 20 acres up to 1.5 million for 40 acres in Pioneer Creek Ranch. There are small ranches north of Silverthorne “down the Blue” starting at $849,000 for a 5 bedroom home on 22 acres. Around the Green Mountain Reservoir, there is a 20 acre lot for $599,900 and 314 acres up Cataract Creek Road for $3,375,000.

Every week I put together a list of everything for sale - I'll send it to you if you would like. You can also search the Summit County MLS from my web site.

Heeney Open House this Saturday

I'm holding 94 Happy Landing open Saturday, July 18th open from Noon to 5 PM. It would be great to see you there.

Map of 94 Happy Landing Dr Heeney, CO by MapQuest

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$8000 first time home buyer credit

It's hard to believe but December 1st may be upon us before we know it. The first time home buyer credit offered by the federal government to help stimulate the economy expires December 1st. I bet a lot of people think it's December 31st, so don't get left out. Besides closing by December 1st, the buyer must not have owned a home in the last 3 years and this must be the buyer's primary home. The national association of home builders has a web site with a lot of information.

There are some good reasons for not waiting for the last minute. One will be that the lenders may get swamped and the loan will take longer than normal. Normal these days is from 4 to 6 weeks. Another reason is current interest rates. If you have good credit, you can have a 30 year loan at 6% or lower - that can change very quickly.

Right now there are a lot of choices, don't let this opportunity pass you by.

Vote for the Best of Summit County

Every year the Summit Daily News does a "best of contest" If you have some favorites in Summit County you might find it fun to vote. Only one vote per person and the voting ends July 30 at 5PM. I'm even listed as one of the Realtors in the drop down menu!! Arts Alive (where I have my quilts) in Breckenridge is listed under the Art Galleries. http://www.summitdaily.com/bestof2009 Have fun.

Sales Statistics by type of property and area

Like anywhere in the world the real estate market is different from area to area. Summit County Colorado in no exception. Within Summit County our multi listing service is divided into six areas, Breckenridge, Copper Mountain, Dillon, Frisco, Keystone and Wildernest/Silverthorne.

The Breckenridge area encompasses the most residential properties going south to the Park County line at Hoosier Pass. It also includes west and east of the town of Breckenridge and north to Swan Mountain Road.

The Copper Mountain area is just the resort, the smallest number of properties.

Dillon includes the town, plus Dillon Valley and the neighborhoods toward Keystone, Summit Cove, Whispering Pines and Soda Creek. There are more subdivision too, but that gives the general idea. Within the town there are condos with great lake views. I do have a list of all the condos in Dillon on my web site.

The Frisco area is the town of Frisco and the subdivisions right around town. I have a list of the Frisco condos too.

Keystone is the resort and heading east to the town of Montezuma. List of Keystone condos.

The Wildernest/Silverthorne area covers the largest part of the county, from the town of Silverthorne north to the Grand County line. Wildernest is just to the west up Buffalo Mountain above Silverthorne. Heeney is included in this area and the 24 miles of ranch land between there and Silverthorne. The list of condos in Silverthorne and Wildernest are on my web site.

With all of those areas there is a big difference in the market. Generally the rule is supply and demand. I've kept track of the number of listings in Summit County compared to the sales for years. Back in the late 1990's a lot of condos were built at Keystone and Copper Mountain - the overbuilding tended to depress the market for a while.

Now, what seems to be influencing our market is the economy in general. Most of our sales are to second home buyers and they need to feel confident about the future. Therefore some buyers are getting deals. Twice a year I put together sales statistics by area and property type. One thing that is a big change over the last few years is the list to sale price ratio - normally it has been 95% to 97% of list. In this first half of the year it was down to 93% and 94%. These buyers are the smart ones because besides being a good investment they get to use the property. Check out the statistics and let me know what you think.

If you would like to know more about the local market in Summit County please contact me at keats@coloradodreams.com or 800-571-1091. You can search the mls from my web site.

Summit County Sales Statistics

I've posted the first half of the year sales statistics on my web site. You can find them as a pdf file at http://www.coloradodreams.com/Real Estate Statistics first half 2009.pdf

The number of sales are way off compared to last year and the year before. There has even been a reduction in the average sales price in condos and vacant land for the first time since 2002.