Ski Resort Land Sales Rapidly Rise | 2021
In our local mountain country, vacant land is incurring rapid growth. From 2019 to 2020, Breckenridge increased the volume of land sales by 130%. In this same period, land prices appreciated by an average of 6.5% Summit County-wide.
What makes land values so special in mountain country? Over 70% of our local mountain country is surrounded by protected lands like national forest, conservation easements and BLM which restricts lands available for development. With scarce land in supply for the real estate market, this protects land values in a unique way.
Another key reason for the rapid recent growth is the rise in the price of housing. As home prices increase, more buyers may feel a financial pinch. By purchasing land instead, these buyers can enter the real estate market for potentially less initial upfront cost and phase in construction progress on a timetable that works better for their budget over time. Construction financing costs have also been remarkably low. These low interest rates can compel buyers to action their mountain cabin dreams while these rates remain low.
By Town for vacant land sales in 2020 (Town: # of Sales, Average Sold Price)
- Breckenridge: 147, $358,202
- Silverthorne: 38, $332,416
- Keystone: 19, $353,763
- Dillon: 13, $239,538
- Frisco: 4, $448,375
- Copper: 2, $871,250
Interested in more information about the local area or do you have questions about Summit County real estate? Contact Taryn Brooke at: 970.333.8297 or firstname.lastname@example.org.