Condominium Sales
Overall, the Summit County number of condo sales are down 28% and the average sold price is down1%. The average percent of the list to sold price is 98% (down 5% from last year). As the map above shows the number of sales and average sold price varies greatly from Town to Town.
All the Stats provided in the 2 Maps (Condominium above and Homes below) are taken from the SAR MLS Data - Year to Date Sales 1/1 - 5/31.
But, the SAR MLS Data does not differentiate between property sales that do, or do not have
Short Term Rental (STR) license restrictions.
Presently, Copper Mt., Dillon and Keystone DO NOT HAVE any Short Term Rental (STR) license restrictions that apply on sale of property in their town limits (upon sale, any new property owner can apply, pay for and be granted a new short term rental license).
As a comparison, using Breckenridge as the example, and working with the two least restrictive STR license overlay zones - Resort Zone (no restrictions) and Zone 1 (limited restrictions), I was curious of what the affect was on sales numbers and average sale price, or if their was a differennce at all.
Resort Zone 2022 vs 2023:
Number of Sales down 1% (26 / 24) and average sale price was up 5%
($1,210,794 / $1,275,760).
Resort Zone and Zone I, 2022 vs 2023:
Number of Sales down 1% (36 / 34) and average sale price up 1%
($1,171,546 / $1,185,093).
It was no surprise to me that sales prices went up in the Resort and Zone I areas while sales prices in the 'Overall' stats as shown in Map above went down.
Questions per your properties STR zoning in Breck, Frisco or Summit County?
Give me a call / email / text!
