The current, inventory starved, real estate market in Summit County that has pushed overall home prices higher is, as you would expect, making the price of entry level, second homes higher too. 100% ownership for $100,000 that was possible a few years back is non-existent these days. A more reasonable starting point would be $300,000. So what can you expect to get for $300k in Summit County these days?
You can get vacant land. You can buy a small, single family home lot in select areas of Breckenridge, Silverthorne, Keystone and Dillon. A very small commercial space in Breckenridge could be in reach too. As far as things you could actually live in full or part time, you could buy a home near Green Mountain Reservoir in the town of Heeney. It will be older and may or may not have plumbing. A studio in Keystone or Copper Mountain or a 1 bedroom in the outskirts of Breck, in Dillon or Silverthorne are also possibilities. You may even find a very small two bedroom around the $300k price tag. If you live and work in the county, you should be able to find a deed restricted property, perhaps with up to 2 bedrooms, in this price range. Other options include partial ownership opportunities and timeshares.
Through the first seven months of 2018, the average residential home price was $751,589. That doesn’t mean you need to spend $750,000 to buy here. That average includes sales of multi-million dollar single family homes all the way down to small condos. 19% of the sales sold for over $1,000,000 and only 8.8% were under $300,000. That’s going to weight the average price to the high side.
For $300k you can typically expect a very limited selection of small condos or vacant land. It’s enough to get your foot in the door of a rising market. Real estate is cyclical. It goes up and it goes down. Whenever you choose to buy, we always recommend that you don’t over extend yourself and be comfortable that you can wait out a downturn.
Here are homes for sale in Summit County for $300,000 or less right now.
1033 Straight Creek DRIVE N-101 DILLON, Colorado
1 Beds 1 Baths 584 SqFt
99 Granite STREET 201 FRISCO, Colorado
1 Baths 365 SqFt
1211 W Keystone ROAD W 2762 KEYSTONE, Colorado
1 Baths 311 SqFt
89410 Ryan Gulch ROAD 204E SILVERTHORNE, Colorado
1 Baths 370 SqFt
364 Salt Lick CIRCLE 364 SILVERTHORNE, Colorado
1 Beds 1 Baths 465 SqFt
167 Argentine COURT 1418 KEYSTONE, Colorado
1 Baths 525 SqFt
980 Lakepoint DRIVE 2 FRISCO, Colorado
1 Beds 1 Baths 516 SqFt
903 Straight Creek DRIVE 304 DILLON, Colorado
1 Beds 1 Baths 584 SqFt
23110 Us Hwy 6 5075 KEYSTONE, Colorado
1 Baths 413 SqFt
240 Lake Dillon DRIVE 304 DILLON, Colorado
1 Baths 547 SqFt
82 Wheeler CIRCLE 115 COPPER MOUNTAIN, Colorado
1 Baths 454 SqFt
23110 US Hwy 6 5006 KEYSTONE, Colorado
1 Baths 432 SqFt
1121 W Keystone ROAD 2738 KEYSTONE, Colorado
1 Baths 361 SqFt
22340 Us Hwy 6 1797 KEYSTONE, Colorado
1 Baths 562 SqFt
110 Evergreen ROAD 205 DILLON, Colorado
1 Beds 1 Baths 501 SqFt
99 Granite STREET 211 FRISCO, Colorado
1 Baths 448 SqFt