100 homes sold for $90M breaks record for Colorado mountain towns, developer says | SummitDaily.com

100 homes sold for $90M breaks record for Colorado mountain towns, developer says

This photo shows the interior of one of the homes at Summit Sky Ranch in Silverthorne. A hundred homes at Summit Sky Ranch have been sold for a total of $90 million, which the developer says is a record for Colorado mountain-town housing developments.
Special to the Daily |

July by the numbers

246: Total real estate sales

215: Total real estate sales (2016)

$144.8 million: Total value of sales

$103.9 million: Total value of sales (2016)

$4.2 million: Most expensive sale

$3.6 million: Most expensive sale (2016)

29: Sales of at least $1 million

Source: Summit County Assessor

Top 5 sales: July

1. $4,200,000 — Breckenridge, Lot 23 Shock Hill (residential home)

2. $3,000,000 — Silverthorne, Lot 9 Angler Mountain Ranch (residential home)

3. $3,000,000 — Blue River, Lot 3 Spruce Valley Ranch (Residential Home)

4. $2,946,500 — Breckenridge, Lot 5 Estates at Snowy Point (residential home)

5. $2,492,500 — Frisco, Lot 12, Royal Mountain Ranch (residential home)

A high-dollar development going up north of downtown Silverthorne is outpacing the number and volume of housing sales for all other Colorado mountain-town projects, according to the developer.

Nestled along the Lower Blue River, Summit Sky Ranch has reportedly already sold 100 homes for $90 million combined, and the developer credits, in part, an economic boom that’s running through Silverthorne.

“Development of the new Silverthorne Performing Arts Center, restaurants, breweries, retail space and residences are coming to fruition in downtown Silverthorne, sparking a renaissance,” said Matt Mueller, Summit Sky Ranch director of development, in a prepared statement.

Overall, the real estate market remains red hot across Summit County with a limited number of listings driving up prices and record-setting sales popping up in different neighborhoods across the county.

In July alone, the county recorded 246 real estate transactions worth $144.8 million, marking increases in both the total number and volume of sales, according to the more recent real estate report released by the Summit County Assessor’s Office.

Additionally, the month brought 29 real estate deals at or more than $1 million, the most expensive of which was a single-family luxury home in Breckenridge’s Shock Hill subdivision that went for $4.2 million.

Because Summit Sky Ranch is only now beginning to close the deals on its 100 pre-sales, they aren’t included in the July real estate report, said Ashley Lowe, a spokeswoman for the development. “When you look ahead to numbers next year, it’s going to be really fun to watch as we close on these 100 sales.”

Altogether, Summit Sky Ranch has 240 homes in the pipeline on 416 acres, making it the largest residential development along the Interstate-70 corridor between Evergreen and Grand Junction since at least 2015, according to Lowe.

The homes at Summit Sky Ranch are each three to five bedrooms with different cabin and estate designs to choose from. They range in size from 1,550 square feet to almost 4,000 square feet and start in the $600,000s.

The development is the result of a vision from longtime Summit County businessman Tom Everist, of The Everist Companies.

The homes are being built on a parcel of land that belonged to his family, and Everist said in a news release that he envisions “a vibrant and inclusive community that brings families and their love for the outdoors together.”

Plush amenities at Summit Sky Ranch are one major selling point, and the developer is describing the perks there as “unprecedented.”

They include an Aspen House, which is expected to open soon and serve as a social and recreational hub. There’s also going to be a boathouse with kayaks and paddleboards, event space and outdoor seating; a 10-acre private lake with a sandy beach; and an observatory with a live video feed into the Aspen House so residents can star gaze in comfort when they so choose.

Summit Sky Ranch also features about 5 miles of trails connected to the White River National Forest and the Gore Range, along with an outdoor heated pool, hot tubs, fire pits, a 20-acre public park with open space, sports fields, a dog park, disc golf and a sledding hill.

For more, go to SummitSkyRanch.com or call 970-286-0202.

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