The Summit Scoop The Low Down On the High Country | January 2021 - Caroline Bellace Hass

The Summit Scoop
       The Low Down On the High Country | January 2021
Hello and Happy Holidays from Summit County! Welcome to 2021!!
2020 was a year many are ready to put behind us, and we are very excited to see the
new year start. We're ready to get over the Covid hump and are hoping to return to
business as usual this year. We've been working hard to do our best to keep people safe
and it looks like there is a light at the end of the tunnel.

The county has started a 5 star business certification program that has allowed our
businesses to re-open after an inspection from the county. With this program, most of
the county is open again and we're excited to get out and support our community.
Frisco is still offering the Love Frisco program, so enjoy dinner and shopping on the
town! If you're renting, the county has new rules in place with stiff fines - make sure
you know and follow them.

As usual for this time of the year, ski areas are open, nordic skiing, ice skating, and
tubing as well. If you're planning a trip up, there is plenty to do, but make sure you
make reservations, follow local guidelines and have a great safe trip!

Take care, and have an awesome 2021,
Caroline

      Your Monthly Answer to: How is the Market in Summit?

It continues to be a seller 's market here in Summit County. Low inventory (less than

1%), low interest rates and high demand continue to be the norm. We see many cash
offers and are working hard to provide our buyers with strong strategies to stay in front
of the pack when we find ourselves in multiple offer situations. We've worked hard in
the past to maintain a good reputation in our business, and it's times like these that it
pays off.

If you're thinking of selling, we've been working hard to make the most of the market.
Our current practices encourage strong marketing prior to listing to drum up demand,
then pricing to see multiple offers and assisting in negotiating the best deal possible.
This may not always be the best price, or the cash offer, as we've stated in the past,
there are many variables to consider. We have spent a lot of time on the phone with
lenders of perspective buyers to make sure we have the best potential to close as
possible. Deals that don't close may not only cost days on market, but may affect rental
income and other delays as well.

​We'll have year end stats for you next month when they're out. If there are specific
 questions you have or help you're looking for, please feel free to reach out. I'm happy
 to provide price evaluations, update you on interest rates or provide a plumber. Call or
 email with any Summit questions you have.

                      This Month's Real Estate Statistics

There were a total of 394 transactions
and $355,464,800 in monetary volume in
November 2020. Year to date monetary
volume is up 21% from 2019 and YTD
transactions are up 14%. The most
active price point for November 2020
was between $1mil to $1.5mil with 52
transactions. There were 101 transactions
above $1M. In November the average
residential price was $904,779 and the
average residential price per SF was
$525.

             Summit County Real Estate Transactions

Average Sales Price

For 2020, the average sales prices year-to-date are as follows: 9.0% increase in
Single-Family Homes, 8.0% increase in Multi-Family Homes, and 0.4% increase in

Vacant Land.

Single Family Homes         Multi Family Homes           Vacant Land
2006 - $737,253             2006 - $333,501              2006 - $311,951
2007 - $798,889             2007 - $406,529              2007 - $391,587
2008 - $835,803             2008 - $463,633              2008 - $470,260
2009 - $905,030             2009 - $398,051              2009 - $399,025
2010 - $770,797             2010 - $425,080              2010 - $336,625
2011 - $734,262             2011 - $367,280              2011 - $246,478
2012 - $764,445             2012 - $353,339              2012 - $309,512
2013 - $751,240             2013 - $344,578              2013 - $324,137
2014 - $784,779             2014 - $357,612              2014 - $318,230
2015 - $855,925             2015 - $399,232              2015 - $372,794
2016 - $934,163             2016 - $409,673              2016 - $353,500
2017 - $1,087,893           2017 - $473,862              2017 - $323,692
2018 - $1,142,905           2018 - $523,519              2018 - $366,814
2019 - $1,262,929           2019 - $559,776              2019 - $344,945
2020 - $1,376,229           2020 - $604,629              2020 - $346,417
(9.0% increase - YTD)       (8.0% increase - YTD)        (0.4% increase - YTD)

If you are wondering what prices have done in Summit County over the long term, here
is a graph of the average residential price from 1988-2019. (click to enlarge)

                Summit County Real Estate Inventory

As of January 2nd, 2021, there were 158 active residential listings in Summit County
and 39 land listings. Inventory is down another 17.6% since last month.

As of January 2nd, 2021, there were 490 pending sales in the County. 67 went
pending in the past 2 weeks.

There were 810 loans in November 2020. 272 were related to sales, there were 337
REFIs and 201 loans were timeshare-related. The percentage of cash transactions for
November was 31%.

Demographics: In November 2020, Front Range buyers were 47% of our market,
20% were 'locals' and 32% were out-of-state buyers. 0% of buyers were
International.

Foreclosures: There were 1 Foreclosure action taken in November 2020 and 26 total
YTD.

    At Cornerstone Real Estate Company, LLC, we maintain all of this data in Excel spreadsheets. Thanks to Land Title Guarantee for
providing the monthly statistics. Please let us know if you would like a copy of the full set of data and it would be our pleasure to email it to
                                                                     you."

                                    Want direct access to the MLS?
                                        Get your own login!
Whether you are looking to buy or you need help selling your current property, we can
give you the local knowledge and expertise you need to make the best decision.

With our MLS I can create a personal website just for you that gives you direct access
to the Summit County MLS without having to log in. Searching the MLS allows you to
see the most up to date and accurate information possible, since that is the same
database that the Summit Realtors use. You will also be able to Save your favorite
listings, and I can set it up to send you emails immediately when new listings come on
the market that match your criteria.

                                        EMAIL ME to get your MLS Login

                          Cornerstone Real Estate Listing Updates
As of January 2nd, 2020

New Listings:
$8,345 - 3,692sqft of Office/Retail Space for Lease at 323 W Main St #201 in Frisco
$286,690 - 1BD/1BA Deed Restricted Condo at Hidden River Lodge in Keystone
$575,000 - 2BD/2BA Snowbridge Square Condo at in Copper

Click here to see the new listings

Price Decreases:
None

Solds:
$240,000 - 1BD/2BA Quandary Breck Condo in Blue River
$605,000 - 1.6 Acre Lot at 620 Glen Eagle Loop in Breckenridge
$690,000 - 3BD/2BA Ski & Racquet Club Condo in Breckenridge

Click here to see the recent sales

                            Summit County Events
Arapahoe Basin Events:
January 26th-29th- Rise and Shine Rando Series #2

Copper Events:
Dew Tour - CANCELLED

Dillon Events:
January - Ice Castles

           Fresh off the Press - The Latest News in Summit

Frisco Seeks New Housing Concept for Sabatini Lot

Dillon to Groom Multi-Use Trails on Frozen Reservoir

Silverthorne Offers Free Winter Amenities

Ice Castles Bring a Winter Wonderland to Summit County

Summit County Acquires 60 Acre Property Near Keystone Resort as Open Space

                            Local Business Spotlight

                              Wilderness Sports

    Wilderness Sports is a backcountry ski and bike shop. Through a wide selection
   of high quality gear, knowledgeable and friendly staff, and education, we provide

outdoor enthusiasts of all skill levels with the tools needed for a fun and safe
                             experience in the outdoors.

  Our primary goal is to help you accomplish your goals! Whether you’re learning
a new sport, improving your skills, or preparing for a race or epic adventure, we will
       help you out along the way. We are thrilled to be a part of your journey!
The first step is making sure you have the right gear. We hand pick a wide selection
        of only the best products to meet all your needs, no matter your budget.
  Step two is maintaining your gear. At Wilderness you will find a full service bike
   shop in the summer, and ski tune shop in the winter. Our shop techs are highly
  skilled problem-solvers, offering the best service in Summit County! We are here
                 to help you keep your equipment in the best condition.

                                    Visit Website

                                                     Caroline Bellace Hass
                                                     Broker/REALTOR®
                                                      970.389.0728 Email Me
                                                     www.FindMyMtnHome.com

                                               Serving Buyers and Sellers in Summit
                                                             County

                                                  60A Main Street Frisco, CO 80443 4
                                                 23110 US Hwy 6 Keystone, CO 80435