Top of the Market: The $3 to $4 million market
special to the daily
Make sure you are sitting down. This next statement might come as a surprise. In Summit County the market for single-family homes priced between $3,000,000 and $4,000,000 is healthy. Here is the data (provided by the Summit Associations of Realtors):
7 sold in the past year.
0 under contract right now.
16 on the market.
Here is how I do the math: 7 sold and 16 for sale = 2.3 years of inventory available for buyers to choose from. Some might say, “Is that healthy?” Compared to other segments of the market it is. For example there is a condo complex in Breckenridge right now with 4.25 years of inventory.
Enough with the data. I searched this segment of the market to provide an example of what $4,000,000 will buy. How about a hand-crafted log home with casita and its own private island? These features give this property the designation of being one of the few estates in the county. Yes, a private island. Google 31 Riverwood Drive, Breckenridge 80424 then go to the satellite view in maps and you will see the house and the island. On Summit County standards it is a huge island. Look at the exterior photo on this page closely. It was taken from the island and shows the bridge to the left. Neat.
Exceptional is the right word for this home. First of all one can count the number of spectacular homes that have private fishing rights on the Blue River on two hands. Add ski resort views, a roof top deck, five stone fireplaces, an extremely private patio with a fire pit and your own bubbling brook and mini pond in the front yard and you end up with a one-of-a-kind home.
The 6,400 square feet of custom finishes make this home feel like the most spectacular high-end “Colorado cabin” that you can imagine. It has five bedrooms and five-and-a -half bathrooms, a study off the master suite and a great room for entertaining. On top of all this it is less than a mile walk to Main Street. The home was completed in 2008 so it has the most current features and top of the line appliances – in line with what you would expect for $4,000,000. Well worth close examination for those searching for a retreat that is also close to restaurants.
Daniel Webster Johnson is a Broker Associate at Resort Brokers Real Estate. He can be reached at (970) 393-3300, daniel@YourMountainBroker.com, on facebook, twitter or at
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