Breckenridge hostel tops January’s real estate sales in Summit County
Selling for $4.38 million, The Bivvi Hostel in Breckenridge rang up as January’s most expensive real estate transaction in Summit County, according to property records at the county assessor’s office.
A woman at the hostel confirmed the sale over the phone on Sunday, but she said guests shouldn’t notice any difference, as the same business model and management team remain in place at the hostel.
In property records, the assessor’s office listed The Bivvi as a single-family home with a bed-and-breakfast, but the company that sold it, Slifer Smith & Frampton Real Estate, promoted the listing as a unique opportunity to own a high-end mountain lodge with 11 bedrooms and 11.5 bathrooms.
In terms of the sale price, the $4-million-plus deal was flanked by a newly built ski-in, ski-out home at Copper Mountain that went for $3.38 million and a little over a half acre of land fronting Highway 6 in Dillon — northeast of the intersection with Dillon Dam Road — that sold for $3.3 million.
Slightly less expensive at just a shade under $3 million each, two luxury homes in Breckenridge’s Riverwood and Trapper’s Glen subdivisions rounded out the county’s top five transactions for the month.
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A typically low-volume month for Summit County’s real estate, January featured 29 transactions worth over $1 million based on property records, which include all transactions.
However, the month also brought fewer residential sales and a declining residential sales volume compared to January 2018, according to local professionals who base their assessments on multiple-listing data.
In its monthly market report, Slifer Smith & Frampton Real Estate found 82 residential transactions in Summit County for January compared to 107 during the same month last year. The dip marked a 23 percent decline, and the overall residential sales volume for January was down about 10 percent at the same time.
Meanwhile, LIV Sotheby’s International Realty noted in its monthly report that the average sales price rose from $649,229 in January 2018 to $788,373 last month at the same time the average number of days a home spent on the market fell from 60 to 47 days by comparison.
Over the previous 12 months, the company has also seen the total countywide sales volume fall 0.9 percent. The actual number of properties sold in the county dropped a more dramatic 11.9 percent.
That’s been a consistent trend going back to 2018, as a limited supply of available housing has left the inventory struggling to keep up with demand and been blamed for steeply rising housing prices.
While the actual number of residential sales has slowed from recent years, the rising prices have helped keep the overall sales volume largely flat from 2017 to 2018 after years of consistent growth.
Still, January remains one of the slowest months for real estate sales in Summit County with most sales happening over the summer months.
Sales typically continue to show up on the books well into the fall before they hit their lowest points of the year during the winter months and then start to ramp back up again in the springtime.
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