Real estate values continued to climb through the end of 2015, with increases across the board for all types of properties.
With a busy holiday season, December brought a strong end to the year, with increased sales across the county. According to 17 months of data gathered by the Summit County Assessor’s Office, the value of townhome sales increased 24 percent, and single-family homes were up 17 percent.
“Maybe because property values have finally increased, people are selling who have been waiting to sell,” Summit County assessor Beverly Breakstone said. “We’re seeing healthy increases in sales prices.”
While last year brought in just over $1.06 billion in sales, 2015 saw more than $1.37 billion in real estate transactions. The month of December brought in a decent chunk of those sales, netting $93.3 million for the month.
Of all the properties, transactions in the Breckenridge area brought in the most dollars for December. The top sale was a half-acre plot of land in the Timber Trail subdivision, valued at $2.48 million.
“This Timber Trail area is a premium, premium area because you can walk to Trygve’s Run and Four O’ Clock Run,” Breakstone said. “Considering that neighborhood, they will probably build something on it.”
Another top-seller was a home located in the Highlands at Breckenridge Gold Run, which sold for $2.45 million. The 49,000-square-foot house has six-bedroom and six-bathrooms, located on a plot of forested land at the edge of the golf course.
“For some people, it adds a lot — they love that,” Breakstone said of the golf course access. “Its another nice home in Highlands. It’s extremely nice.”
LOOKING TO THE WINTER
November also saw a few notable sales, one tipping the charts at just below $4 million. The 46.5 acre-parcel of land, located east of Breckenridge near Ford Gulch, features a 64,000-square-foot log home surrounded by open space, with views of the valley below.
According to the assessment, the home also features a swimming pool, guest apartment, home theater and a three-car garage. It was constructed in 2001.
Breakstone said the $3.9 million sale was unusually high for November.
With 12 sales exceeding $1 million in December, sales in Summit were strong this winter.
“Most of the time, we see heavy volume starting in the spring and going through the fall. It’s possible someone’s here on the holiday, sees a home and they have to do it,” Breakstone said. “On these busy Decembers, people come here and they just fall in love.”