Summit County’s luxury real estate market remains strong headed into 2022

 

Why so many people are interested in purchasing a second home in Summit County isn’t a mystery. The area boasts plenty of recreational opportunities year-round, the scenery is impeccable and it’s the first big stop along Interstate 70 that boasts four ski resorts all in one county.

These big perks combined with the pandemic’s boost in remote working has created quite the hot real estate market in Summit County all year long, and especially so for the luxury market.

In total, sales for luxury units were the strongest in the third quarter of 2021, according to Land Title Guarantee Company’s monthly report.

The third quarter of the year raked in roughly $499,084,304 in gross volume for sales priced at $1 million or more. Second quarter was close behind at $419,376,361 in gross sales. First quarter lagged behind at $240,619,600.

Like the more affordable residential real estate market, buyers might have to exercise patience if they are looking for a specific piece of property. Not only is there not as much inventory on the market, but according to the Summit Realtors Association, the average number of days until it sold in Breckenridge for October was 31, which is down 72% compared to the same month last year. The association reported last year that the average number of days a unit was on the market until it sold was 112.

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Breckenridge passes new short-term lodging fee in split vote

 

The entire Breckenridge short-term lodging community will have to pay $400 per bedroom to the town at the start of 2022 after Breckenridge Town Council voted 5-2 to pass its new regulatory fee at the Nov. 23 meeting.

After the first reading of the ordinance, council wanted feedback from its new tourism overlay task force on the fee amount as well as potential exemptions. Council members Dick Carleton and Kelly Owens, who sit on the task force, said the group was not supportive of the idea of exemptions.

“They really felt that if we’re going to do this, it should be the same for everyone,” Carleton said. “It seemed like there was consensus on that one.”

Several council members were thrown off by the feedback considering the exemption they wanted to include was for locals who rent out their primary residence 21 or fewer days per year. Owens said the task force’s point was that if the fee is meant to help create more workforce housing opportunities for the community, then as many people as possible should pay it.

“There was a significant feeling of, ‘If you’re going to be charging a fee … trying to raise money for different housing programs, then don’t do a bunch of exceptions. Just move forward with the fee,’” Owens said.

Council members Dennis Kuhn and Carol Saade voted “no” again on second reading because they are nervous about the impact the fee will have on the lodging community with such a quick turnaround. Saade said if council was having this conversation in June and giving the community more time to prepare, she would be on board, but she said she is not comfortable doing so now without more of a heads up. Kuhn agreed and said he would have liked to see the fee start out even smaller to give folks more time to adjust.

Courtesy Summit Daily News.

 

Nancy Yearout's   November Real Estate News!  ​ ​ ​​ Breckenridge Ski Area opens Today, 11/12/2021! Now check out the Summit County, CO YTD Sales Stats from 01/01/2021 - 10/31/2021!  Single Family Home Sales Number of Sales: The number of single family home sales are up 8.5%. The town of Dillon had the highest increase in home sales at 21.4%. Average Price Increase: The average sold price increase for single family homes in Summit County is 30.6%. The highest increase of any of the local towns was in Frisco at an increase of 46.3%! Inventory: Today there are only 70 single family homes for sale in all of Summit County. The average list price of those 70 is about $4,000,000.  Percent of List to Sold Price: The average percent of the list to sold price for single family homes is 101% in Summit County and 100% or more in each town. Single Family Home Stats for Summit County and each resort town, Just click here. Condominium Sales Number of Sales: The number of condominium sales are up 7.2%. The town of Breckenridge had the highest increase in condo sales at 29.6%. Average Price Increase: The average sold price increase for condominium sales in Summit County is 26%. The highest increase of any of the local towns was in Dillon at an increase of 29.9% Inventory: Today there are only 40 condominiums for sale in all of Summit County. The average list price of those 40 is about $1,242,000. With a low of $345,000 and a high of about $3,000,000. Percent of List to Sold Price: The average percent of the list to sold price for condominium sales is 101% in Summit County and 100% or more in each town. Condominium Stats for Summit County and each resort town, Just click here. Detailed Graphs & Statistics Below Market Statistic Details: History of Sales & Average Sold Prices 2004 - 2020, Condominium Sales by Town, Single Family Home Sales by Town, Residential Sales by Town,  Nancy Yearout Broker Associate RE/MAX Properties of the Summit 970-485-0293 nancy@buyinbreckenridge.com buyinbreckenridge.com RE/MAX Properties of the Summit  Breckenridge  Frisco  Silverthorne  Dillon  Keystone  Copper Mountain                 Website: buyinbreckenridge.com​ Source: Sold Data from Summit Realtors MLS.  Stats pulled on 11/3/21. *SAR MLS Data  Annual sales 1/1 through 12/31. *Residential Sales (home, Condo, Townhome & Duplex),  Sales for Jan, Feb, Mar, April, May, June, July, August , September, and October. Change is Year over Year 2021 vs 2020. **The information contained herein is based on information provided by others. Accordingly, we make no guarantee of its accuracy and suggest you make an independent inquiry of any matters you regard as important. Each office is independently owned and operated.

Copper Mountain is the final Summit ski area to open for the season

 

It’s official: Summit County’s mountains are open for ski season. Copper Mountain Resort hosted the final opening day in the county yesterday, Nov. 22.

Colin Thomas stood at the Alpine Lot waiting for a shuttle bright and early on opening day. Thomas had driven up from Denver — where it has yet to snow — for his second opening day of the season after Winter Park’s opening last week.

“I haven’t been able to ride the last two years because I got shoulder surgery done, so I was finally able to come back out and ride,” Thomas said.

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Dillon to consider updated development agreement with Uptown 240

 #Dillon #Colorado

The Dillon Town Council will hold a special meeting next week to consider an amendment to the development agreement with Uptown 240, which would extend the deadline for the developer to complete a series of public improvement projects and provide a path forward for continued construction.

Developers on Uptown 240 broke ground on the project in June 2019, but a loss of financing as a result of the COVD-19 pandemic caused serious snags in the process, and construction shut down in April 2020. As part of the development agreement with the town, the developer was required to construct a number of public improvements by the end of September, including repairs to sidewalks and road pavement on Lake Dillon Drive and West Buffalo Street, among others.

That deadline has come and gone, and the work has all been left uncompleted. On Oct. 1, the town issued a default notice to the developer and filed a lien on the property to secure payment of outstanding utility and attorney fees.

Summit County’s adoptable pets for the week of Nov. 14

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 The following animals are available for adoption at the Summit County Animal Shelter. Call the shelter at 970-668-3230 with questions. The most recent list of animals available for adoption can be found on the shelter’s website.

For a partial list click here

Breckenridge Ski Resort, Vail Mountain to open tomorrow

 

Breckenridge Ski Resort, which is scheduled to open Friday, Nov. 12, posted its opening day details on social media Wednesday, Nov. 10.

The ski area, which is the third to open in Summit County, will offer about 50 acres of terrain on Peak 8 with access to 4 O’Clock and Springmeier trails. The terrain will be served by the Colorado SuperChair and 5-Chair, which will open at 8:30 a.m. Friday.

Just over Vail Pass in Eagle County, Vail Mountain Chief Operating Officer Beth Howard said Wednesday that Vail also intends to open Friday as scheduled despite less-than-ideal snowmaking conditions over the past few weeks.

Vail Mountain has enjoyed only short windows of snowmaking during the run-up to the 2021-22 season, Howard said at the State of the Valley event in Edwards.

But as Howard was speaking, Vail Mountain was taking advantage of one of the few opportunities there has been for daytime snowmaking prior to Friday’s long-planned opening.

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Breckenridge Ski Resort to host the return of Wake Up Breck event

 

Before the start of Breckenridge Ski Resort’s 60th season, the ski area is hosting the return of Wake Up Breck on Thursday, Nov. 11.

The annual community tradition was canceled last year due to the COVID-19 pandemic but returns next week alongside a ribbon cutting ceremony for the new South Gondola Parking Structure off Watson Avenue.

The ribbon cutting event will take place at 7:30 a.m. with Wake Up Breck following the conclusion of the ceremony.

Representatives from the town of Breckenridge and Breckenridge Ski Resort will be at the event to christen the new parking structure and engage in the festivities before sending up the first chair on opening day, Friday, Nov. 12.

As part of the ski season kickoff event, all attendees will receive a free 60th anniversary coffee mug, a cup of coffee and waffles from the resort while supplies last.

Mugs and waffles will be given out in the plaza in front of the parking structure, and a cup of complimentary coffee will be available at Starbucks, Clint’s Bakery & Coffee House, Cool River Coffee House, Daylight Donuts, The Coffee Depot at Main Street Station, Cuppa Joe’s and The Crown throughout the day.

The new parking structure is set to open along the resort on Nov. 12 and will provide 950 additional parking spots.

What determines tree line?

 

We all know what tree line is in Colorado: the point above which trees don’t grow. But what determines tree line: Cold? Soil conditions? Precipitation? And is tree line different in various parts of the world?

Although tree line looks like a sharp delineation from a distance, you can see that it actually consists of three different zones upon closer inspection. The area above which trees cannot grow thick enough to form a canopy is called timberline or forest line. Above timberline there is usually an area where small groups of trees can survive but not enough to form a canopy, and the limit of these trees is called tree line. Individual, though often stunted, trees may grow above tree line up to what is called the species line. These three zones usually occur within a hundred vertical feet of one another.

There are also different kinds of tree lines depending on the main factors that inhibit tree growth. When we refer to tree line in the Colorado Rockies, we are normally referring to the Alpine tree line, where cold, snowpack, soil quality and high winds are among the limiting factors. In other regions, there are desert tree lines, where moisture is the key limiting factor. There are also desert-Alpine tree lines, where cold and moisture are the key limiting factors.

Current research is directed at how climate change affects tree line. And locals have noted trees growing on some of our formerly tree-free summits. There are complex and interesting dynamics involved here. For instance, because seedlings have different limitations than trees, sometimes seedlings will survive when trees can’t, or vice versa. So the current tree line might reflect the climate from decades or centuries ago. Or there might be lags for when tree line moves because seedlings struggle to get established.

Alpine tree lines vary greatly across the world, especially in areas north of 30 degrees north or south of 20 degrees south in latitude. In Colorado, tree line is around 11,500 feet. In contrast, tree line in the Swiss Alps is around 7,200 feet.

#breckenridge #colorado #realestate #breckenridgerealtor #coloradorealtor

Bluebird Market in Silverthorne expected to open in November

 

#Silverthorne #Colorado

As Bluebird Market is nearing completion, business owners in the market are ecstatic to get up and running soon. Instead of construction workers, the market will soon be full of residents and visitors looking for a quick bite.

Scott Vollmer, director of property operations for Fourth Street Crossing developer Milender White, said they are close to getting a final certificate of occupancy to get the market open. While there isn’t a set date, he expects to see a soft opening with seven of the nine tenant spaces in November.

“There’s a couple different general contractors, so it’s really hard to pinpoint when they’ll all be done,” Vollmer said. “By the time that happens, we’re looking at probably doing a grand opening in the month of December.”

Courtesy Summit Daily News.