Summit County is buzzing with excitement. The crisp morning air, the golden Aspen leaves scattered across the ground and the snow beginning to accumulate on the peaks. Winter is coming to Summit County and everyone is getting excited for the upcoming ski season! If you have been wanting a Summit County home in time for ski season, now is crunch time!
Ski Area Opening Dates
- Arapahoe Basin and Keystone don’t give opening dates in advance. They may announce it when opening day is tomorrow. However, that did prove to be a mistake for Keystone a couple of years back. They announced they would open the following day only to have A-Basin open that afternoon and grab the first resort to open kudos. It’s a friendly competition that both want to win. Generally that opening day is in October.
- Loveland does not set an opening date either. On average, opening day at Loveland is at the end of October. However, three out of the last four years, opening day has fallen in November.
- Copper Mountain and Breckenridge have both committed to opening November 7th. Less than one month away!
- Winter Park opens November 8th.
- Vail and Eldora are opening November 14th.
- Steamboat will be open November 22nd.
- Beaver Creek November 26th
- Generally, every Colorado ski resort will be open for the Thanksgiving holiday.
Market conditions for a new Summit County home
Now that ski season will be here in less than a month, those considering buying a ski home need to get moving. A typical closing will take 30-45 days from the time a property goes under contract to closing day. A cash sale can happen more quickly but generally at least a couple of weeks is necessary for buyers to do their due diligence.
The number of homes on the market in Summit County is higher than last year but still not abundant. There is approximately a six month supply, indicating it is a balanced market for residential real estate. Sales have already picked up giving us the typical upswing of September and October closings. Sales have increased 16% over 2024 year over year. Prices, however, are pretty flat with just a 2.9% decrease in median sale price and 1% drop in the average residential sale.
The length of time homes are on the market is continuing to increase. Through September, 62% of homes for sale were under contract within 60 days. In 2023, 63% of homes were selling in 30 days or less. Time on market has doubled.
Interest rates are beginning to tick down but cash sales are still making up 40% of the residential sales this year through September. That’s down from 44% of sales during the same time in 2024.
If you are looking for a partial ownership, the market is more of a buyer’s market with a 10 month supply of properties for sale. While land for sale has accumulated to a nearly 2 year supply.
This is the time of year when buyer and seller can come together a little bit easier. Buyers want a place before ski season, sellers don’t want to carry their home through another ski season. Now is a great time for both parties to compromise, create a win-win situation and both get what they want.
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