6 Things to Know About the Current Silverthorne Real Estate Market

6 Things to Know About the Current Silverthorne Real Estate Market

  • Maureen Lathrop
  • 07/13/22

Silverthorne is a city worth checking out in Colorado due to its lucrativeness in the real estate sector. It has been buzzing with new neighborhoods, making it ideal for real estate. The real estate market is highly versatile and competitive.

Leading real estate agents like Maureen Lathrop enlighten you on the different properties in the city, such as single-family homes, condos, apartments, and more. Luxury homes are also worth mentioning. You can get exquisite homes in places like Emerald Road, Polar Court, and Golden Eagle Road.

Commercial and residential properties are also common and fetch varying prices depending on the location. Understanding market trends is necessary if you want to buy or sell a home in Silverthorne. For this, you should hire a professional agent to guide you.

What to know about the current Silverthorne real estate market:

1. It is easy to get a professional estate agent


An estate agent plays a vital role in property dealings. Whether building or selling a home, you need professional services from an estate agent. The good thing about Silverthorne is that you can always get an agent to match your needs and budget.

An agent helps you avoid blunders that can cost you money. You can get different agents in the city; some work individually while others operate under realtor companies. Regardless of your choice, engage an agent with adequate skills, experience, and licensing to get value for your money.

How will an agent help? A Silverthorne estate agent offers multiple services such as:

  • Guidance and information sharing
  • Property listing
  • Marketing properties, locating potential homes, and organizing viewing
  • Screening buyers
  • Price negotiations during property sales
  • Negotiate and prepare contracts
  • Referrals to other professionals
  • Real estate brokerages charges

Typically, estate agents in Silverthorne charge 6% of the property's selling price. For instance, if you list a luxury home selling at four million dollars, the agent will get a commission of $240,000 after a successful sale. The property seller caters for this amount, which is divided between the seller and the buyer's agent. Essentially, the brokerage can pay other cooperating agents out of the 50% cut.

Other payment options include:

  • Flat fee services
Silverthorne, Colorado, has various flat fee services. The option allows you to sell your home with a conventional realtor for a flat fee rate. This works best if you choose to sell the property by yourself. The agent helps you list your property on the local listing MLS (Multiple Listing Service). Otherwise, you limit your property sales chances due to minimal visibility.

  • Discount realtors
Some agents offer a discounted rate to property sellers. This can be in the form of rebates. However, this might be costly if you have to wait to get the listing agreement at the end of the deal.

2. Property rates

Silverthorne boasts of different types of homes and estate properties. They range from conventional to luxury homes. The real estate industry is lucrative, although it has experienced a downhill trend in 2022. Check out the property rates to know how to price your home to sell fast.

3. Median home prices

The median home price in Silverthorne is approximately $1,785,000. You get different properties, especially condominiums, in the listings. The cost varies slightly depending on the home location, features, and amenities. To sample the wide variety of properties in Silverthorne, consider engaging an agent. This makes it easy to locate a property with your desired features or sell your home fast.

4. Market competition


The real estate market is highly competitive, considering the multiple listings available. Most of the homes get offers within a few days. Nonetheless, most homes fetch a higher price above the listing price. It is easy for a home to sell for a higher amount than the listed price.

Hot properties have high demand and fetch about 7% higher than the listed price. Properties in this category can go pending for one day. Some of the hot properties in Silverthorne include:

Condos

Condominiums are one of the most sought-after properties in Silverthorne. You are likely to spot various construction projects in the city, particularly in Blue River. They mainly feature condominiums and townhomes. Leading estate agents attest that these properties are in demand in Silverthorne.

The prices for the units vary depending on the size, the number of bedrooms, and features. The prices range from $450,000 to $815,000. Moreover, the properties' increasing demand is attributed to the increasing number of remote workers.

Luxury homes

Luxury homes are gaining popularity in the city. From the current trends, it is expected that Silverthorne will feature new and unique home designs. It is common to spot stunning luxury homes in neighborhoods like the Angler Mountain Ranch.

The homes are high in demand and sell shortly after construction. Luxury homes are worth investing in, as you are guaranteed to fetch an average of five million dollars after a successful sale.

New luxury homes as designed with the buyer in mind, and some feature unique amenities and features such as waterfalls, skylights, and large windows. However, not all luxury homes match your needs. Apply the following tips when buying a home to avoid costly blunders:

1. Understand the buying process -The home buying process involves various steps. First, research the property's features and amenities before investing your money. Avoid hasty decisions before understanding the market trends. Finally, engage a professional estate agent to make an informed decision when investing in a home.

2. Understand the neighborhood - Home location is a vital consideration in real estate investment. It's illogical to invest vast amounts of money in an undesirable neighborhood. The amenities and infrastructure around your property determine its value now and in the future. For this, engage an agent to help you choose the most suitable investment location. Learn of the upcoming properties in the neighborhood to ensure they do not affect your home's view and lighting.

3. Invest in the right team - You need the services of an agent to buy your desired home in the city at the best rates. In addition, you should hire a competent real estate developer to develop your property for desired results. Scrutinize their experience and skills and only invest in a trusted developer.

Townhomes

Townhomes are also hot properties in the city, and you will spot many units under construction. They feature two and three-bedroom houses and range from $287,927 to $579,147. Townhomes are popular due to their numerous benefits. Some of the reasons why most Silverthorne investors choose to invest in Townhomes include:

- Lower purchase value -Townhomes are less costly compared to single detached homes. The lower purchasing cost translates to lower mortgage payments.

- Minimal maintenance - Maintenance costs can accrue to hefty amounts yearly. However, townhomes have limited maintenance costs, unlike single or detached homes. For instance, you do not have to pay someone to undertake maintenance tasks such as shoveling snow from your landscape.

- Privacy - Townhouses share walls with other units but still offer the desired privacy. You own an entire vertical and enjoy minimal noise than living in a condominium.

- Unique amenities - Townhomes offer superb amenities, and you expect to get more in high-end neighborhoods. Examples of amenities to expect include pools, a gym, and a kids' play area.

5. Climatic impact on housing


Adverse weather conditions affect the housing sector, and Silverthorne is not an exception. Some adverse weather events include floods, fires, storms, and droughts. Floods can lead to significant water damage, cracks, and flooring damage.

Adverse weather events disrupt accessibility to essential utilities such as internet, electricity, and phone connection. The risk of floods is minimal in the city, although they have caused significant damage to houses over the years. For this reason, it is vital to have home insurance in Silverthorne. Properties in areas likely to flood attract few buyers and are likely to fetch a lower value.

6. Home Financing in Silverthorne


The growing real estate industry in the region has made it easy to get financing. You can get a mortgage to support your investment goals from different lenders in Silverthorne. Mortgage rates have been low in the last few years but are expected to rise. The Mortgage Bankers Association predicts that the rates will increase steadily over time.

The current mortgage rates in Colorado are:

  1. 5.24% for a 30-year fixed
  2. 4.53% for a 15-year fixed
Some of the top lenders in Silverthorne include:

  • First Mortgage Direct
  • Inter first Mortgage Company
  • Sage Mortgage
  • Better.com
  • LoanMonkey

Summing up Silverthorne real estate

Following the housing crash in 2008, there have been fears that the market might crash.

However, according to experts, this is highly unlikely. Stricter lending regulations and guidelines for home purchases are in place to prevent a housing crash. Furthermore, the economy has made a remarkable recovery eliminating all fears of a housing crash.

Silverthorne is a great investment spot for both locals and visitors. If you plan to invest in the city, contact Maureen Lathrop and the team to learn more about Silverthorne and investment opportunities.



Work With Us

We bring an unusual and compelling mix of expertise and character to Summit County real estate that benefits you and your search for the perfect mountain home. Beyond being listener, we are anticipator - connecting with clients to understand their needs and always staying one step ahead.