February 2025 Real Estate Summary

Real Estate

Mar 4

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

FEBRUARY In Review

We kept plugging along in February with an additional 3 sales, an improvement of one over last month. With only two months and five sales in the books it's difficult to have any strong opinions on the YTD. The sold properties were two bedrooms in Summit House East and Togwotee for $932,500 and $1,212,000 respectively, along with a Union Creek Townhome for $2,440,000. Interestingly all three were record breaking prices in their complexes, and all three are somewhat rare properties to be sold. We don't see many listings in these buildings, especially in Togwotee where this one was the second in almost ten years.

If we compare February to January, we see a slight decrease in the average PPSF ($9), a substantial decrease in the average sold price ($278K) and minimal changes to both the average days on market and Average Sales/List pricing. 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.

This month is shaping up to be busy with 5 properties currently pending, three of which were priced over $2M. We'll see where/when they close, but it should have a positive impact on our metrics.FEBRUARY By the Numbers

Total Sales: 3
Average PPSF : $1038
Average Days On Market: 75
Average Sales Price: $1,528,000

2025 By the Numbers

Total Sales: 5
Average PPSF : $1042
Average Days On Market: 71
Average Sales Price: $1,639,000

Current Market Conditions

There are currently eight non-deed restricted listings on the market today, one fewer than last month. As of today there are 3 one bedrooms and 5 three bedrooms on the market. Interestingly there are no two bedroom homes for sale with the recent withdrawal of a Westlake property a few days ago. Three of the listings are new over the past month

From January to February the PPSF increased $143 to $1,042. The days on market increased 15, but it's being dragged upwards by 2-3 homes that have languished (Copper Junction 404 has been listed for over 900 days).