Well, you could come to Summit County and purchase a SnowHome for as little as around $100,000. But, your choices would be very limited, and luxury? Well, that's not what you were buying anyway, is it? You can actually find luxury in the half a million dollar range, again with a somewhat limited range of choices, and you may not get the land or the views you want with the package. If you really want it all, you're looking at $1 million and up. Really. No kidding. But, consider this. That $100k condo is going to cost you half a mill in Vail, more in Aspen. And our million dollar homes - well you can multiply that by several times in those markets. In fact, we just spent a couple of days in Steamboat Springs and walked through a few homes priced at $2.7 to $6.2 million, with listings running as high as $15 million for a single family home. So, though it seems a confusion of terms, our luxury dollar homes are really affordable - relatively speaking. These are the corporate retreats, the 5,000 square foot log cabin on acreage in the trees, the places where you would be proud to entertain 40 or 100 of your closest friends. So, what really is happening in this segment of the market? Well, currently, there are 202 of these babies for sale. So, there are good choices. Breckenridge offers the most - 120 - and the majority of those are in subdivisions like The Highlands, around and near the Breckenridge Golf Course. Copper Mountain has 5, Keystone has 32, and Silverthorne has 27 for sale. You can see all of these SnowHomes here (understand that when you look, the numbers will likely have changed). Break these down by price, and again, most of the homes available are between $1 and 2 million. 93 in Breckenridge, 3 in Copper, 31 in Keystone and 25 in Silverthorne. Between $2 and 3 million, there are 19 in Breckenridge, 2 in Copper, 1 in Keystone and 2 in SIlverthorne. And over $3 million, the numbers get really small - 8 in Breckenridge and 1 in Dillon. That's it. While you can find dozens of homes in Vail, Aspen and Telluride even over $10 million, they are not here. Doesn't mean we don't have the same sized homes, or homes with acreage and great views, or homes with all the latest luxury fixtures and living spaces. We just don't charge as much. So, how about sales? Well, Breckenridge is threatening to sell about a third of its inventory this year, while Keystone is on route to only about 10%, and Copper is showing no activity at all in this price range. Silverthorne is on track for selling about 20% of its over-a-million homes on the market. This is fairly consistent with the past couple of years. So, what does that mean? While lower segments of the market are beginning to sell as fast as homes come on the market, high end homes continue to offer more choice and more possibility for negotiation. If you can spring to this level, this could be the best time to buy. If you have an interest in purchasing property in Summit County, please visit our website. All the property listings are there. When you live or visit here, you will know "Snow Place Like Home". |
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