January 2025 Real Estate Summary

Real Estate

Feb 3

Real estate summary provided Ben Broughton, Real Estate at Copper Mountain

January Market Report

With only one month in the books it's inappropriate to draw any solid conclusions about 2025 market conditions, but I have some thoughts to share. January saw 2 closed transactions, at almost opposite ends of the market spectrum. The first was a 3,100SF single family home in the Masters which sold for $2,932,000, and the second was a 591SF one bedroom condo in Passage Point for $680,000. Like I stated, 2 properties pretty far apart in almost every statistic. I do find it interesting that January 2024 also had two sales, so we're tracking the same.

If we compare January to December, it would double the average sales price, increase the PPSF by 10%, and halve the average Days on Market. In addition it would show a 5% increase in the average sales price to list price, pushing us over 100%. In reality we're just comparing a month with 3 sales to one with 2 sales, and the data set simply doesn't lend itself to making any confident conclusions.

That's not to say that January was boring in the real estate market here in Copper. Quite the contrary, we saw a frenzy of activity in the townhome market. In the span of 3 days a Lewis Ranch TH, Union Creek TH (Original development, not the UCTHW), and an Elk Run TH came on the market, and all three were under contract in less than a week. Each of the properties had record breaking list prices in their respective developments, and at least one received multiple above list price offers. It will be interesting to see where the sales prices shake out, hopefully later this month.

JANUARY By the Numbers

Total Sales: 2
Average PPSF : $1047
Average Days On Market: 65
Average Sales Price: $1,800,000

Current Market Conditions

There are currently nine non-deed restricted listings on the market today, one more than last month. Important to note, however, is the three townhomes discussed above. The flurry of activity surrounding those proves my statement about certain segments of the market still hiding demand. While we've seen several listings languish on the market, there are absolutely still pockets of high demand. Particularly in the higher end segments of both whole ownership as well quartershares (Namely the Cirque).

From December to January the PPSF increased $7 to $899. The days on market decreased 8, but had the three townhomes lasted longer on the market we'd be looking at a much more substantial drop. The fourth pending property is a two bedroom located in Summit House East, which was listed at $975,000.