What does $300,000 Buy?The current, inventory starved, real estate market in Summit County that has pushed overall home prices higher is, as you would expect, making the price of entry level, second homes higher too .  100% ownership for $100,000 that was possible a few years back is non-existent these days.  A more reasonable starting point would be $300,000.  So what can you expect to get for $300,000 in Summit County these days?

You can get vacant land.  You can buy a small, single family home lot in select areas of Breckenridge, Silverthorne, Keystone and Dillon. A very small commercial space in Breckenridge could be in reach too. As far as things you could actually live in full or part time, you could buy a home near Green Mountain Reservoir in the town of Heeney.  It will be older and may or may not have plumbing.  A studio in Keystone or Copper Mountain or a 1 bedroom in the outskirts of Breck, in Dillon or Silverthorne are also possibilities.  You may even find a very small two bedroom around the $300,000 price tag.  If you live and work in the county, you should be able to find a deed restricted property, perhaps with up to 2 bedrooms, in this price range. Other options include partial ownership opportunities and timeshares. 

Through the first seven months of 2018, the average residential home price was $751,589.  That doesn’t mean you need to spend $750,000 to buy here. That average includes sales of multi-million dollar single family homes all the way down to small condos.  19% of the sales sold for over $1,000,000 and only 8.8% were under $300,000.  That’s going to weight the average price to the high side. 

For $300,000 you can typically expect a very limited selection of small condos or vacant land.  It’s enough to get your foot in the door of a rising market.  Real estate is cyclical.  It goes up and it goes down. Whenever you choose to buy, we always recommend that you don’t over extend yourself and be comfortable that you can wait out a downturn.  

Here are homes for sale in Summit County for $300,000 or less right now.