Grand County | Quarter 1, 2022
Bordering Rocky Mountain National Park and home to the “Great Lakes of the Rockies,” Grand County is well known for its conveniently located mountain town, Winter Park. Rising to an elevation of 9,100 ft, Winter Park is the gateway to the mountains west of Denver, surrounded by Arapaho National Forest and three wilderness areas: Indian Peaks, Byers Peak and Vasquez. Voted best ski resort in North America by USA Today, Winter Park Resort is the epicenter of Grand County’s winter activities. Explore over 3,000 acres of ski and snowboard trails, snowmobile through miles of white powder, or simply soak up the famous Colorado sun around a base-area bonfire. As of the 2020 census, Grand County claims a population of nearly 16,00 residents throughout its six towns: Winter Park, Grand Lake, Fraser, Granby, Tabernash, and Kremmling.
Every quarter, LIV Sotheby's International Realty produces a Micro Market focused on Grand County’s market. For quarter one, this report is a year-over-year comparison of the first quarter of 2021, compared to the first quarter of 2022, analyzing January through March. Overall, homes in Grand County sold at an increased price of 28% during the first quarter, rising from $693,457 in 2021 to $887,508 in 2022. However, Grand County’s total dollar volume sold remained on par with the first quarter of 2021, in fact dipping down slightly from $119,968,087 in 2021 to $118,926,120 in 2022. In Winter Park, the county’s largest town, buyers purchased 40% fewer properties, but at a 57.2% increase in price point. Grand Lake, the area’s second-largest town, saw a 4.6% increase in average property prices and a 30.8% decline in all properties sold. Unlike the fast market Grand County experienced in 2021, the first quarter of 2022 brought an increase in appreciation value, but also an increase in the amount of time buyers had to weigh their options. In Winter Park, the average number of days on market increased from 88 days in 2021 to 162 days, and in Grand Lake, buyers and sellers saw an increase from 99 days to 151 days this year.
Rural living in Grand County continued to be more expensive than in previous years, with the communities of Fraser, Granby, and Kremmling seeing an increase in average property prices of 33.5%, 14.7%, and 150.3%, respectively during the first three months of 2022. In Kremmling, this significant increase in average property price is attributed to the area’s astonishing highest price sale of $8,370,000, which is a 583.3% increase over the highest sale price during the first quarter of last year. Known for its year-round recreation, Tabernash is the only community within Grand County that didn’t reflect an increase in appreciation value or a decrease in average time on market, making its first quarter performance in 2022 a reminder that not every community is seeing the fast-paced, high priced market demand that consumers have grown accustomed to.
While Grand County’s 2022 quarter one metrics reflect a slightly slowing landscape with a 38.5% increase in average days on market from 91 days in 2021 to 126 days this year, the market is continuing to be highly competitive. With 22.5% fewer properties sold this year, yet a 28% increase in average sold price, the county continues to require the expertise and guidance of local real estate professionals to successfully navigate this highly coveted market which provides the convenience of the city and the comfort of Colorado’s Rocky Mountains.
This Colorado Micro Market Report includes real estate data statistics for the following neighborhoods: Winter Park, Grand Lake, Fraser, Granby, Tabernash, and Kremmling.