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.
1979 Ski Hill Road 1309CD BRECKENRIDGE, Colorado
2 Beds 2 Baths 1,109 SqFt
189 Ten Mile Circle 731 COPPER MOUNTAIN, Colorado
2 Beds 2 Baths 1,363 SqFt 1.442 Acres
172 Beeler Place 110-B COPPER MOUNTAIN, Colorado
1 Beds 2 Baths 785 SqFt 2.514 Acres
172 BEELER Place 114B COPPER MOUNTAIN, Colorado
2 Beds 2 Baths 900 SqFt
91400 Ryan Gulch Road 91409 SILVERTHORNE, Colorado
2 Beds 2 Baths 888 SqFt 3.267 Acres
1911 Boreas Pass Road 11 BRECKENRIDGE, Colorado
3 Beds 3 Baths 960 SqFt 0.762 Acres
189 Ten Mile Circle 531/533 COPPER MOUNTAIN, Colorado
2 Beds 3 Baths 1,193 SqFt
82 Wheeler Circle 217B-3 COPPER MOUNTAIN, Colorado
1 Beds 1 Baths 637 SqFt 0.914 Acres
1937 Soda Ridge Road 1158 KEYSTONE, Colorado
2 Beds 2 Baths 1,045 SqFt 7.218 Acres
500 Village Road 405 105 BRECKENRIDGE, Colorado
3 Beds 2 Baths 1,342 SqFt
75 SNOWFLAKE Drive 716 BRECKENRIDGE, Colorado
2 Beds 2 Baths 1,200 SqFt
1979 Ski Hill Road 1208CD BRECKENRIDGE, Colorado
2 Beds 2 Baths 1,109 SqFt
1653 Oro Grande Drive 9 KEYSTONE, Colorado
2 Beds 2 Baths 1,136 SqFt 2.542 Acres
1979 Ski Hill Road 1408A BRECKENRIDGE, Colorado
1 Beds 1 Baths 835 SqFt
200 S High Street A BRECKENRIDGE, Colorado
4 Beds 2 Baths 1,614 SqFt 0.070 Acres
96 Red Cloud Peak Road DILLON, Colorado
2 Beds 2 Baths 960 SqFt 0.131 Acres