“People are rethinking how they want to live, and for some, how they want to raise their children, and so they’re looking to Colorado’s resort communities,” said Dan Fitchett, Vice President and Managing Broker of LIV Sotheby’s International Realty’s Vail Valley offices. “Here, people have the social infrastructure they’re looking for, the schools, hospitals, restaurants and activities, without having to live on top of one another like they do in cities.”

Due to this new trend in consumers preferences, Colorado has become a very popular place to buy and sell real estate– particularly in the resort and mountain communities. Scattered throughout the stunning Rocky Mountains, Colorado’s resort towns offer a life filled with breathtaking vistas, nature and wildlife, world-class skiing, unbeatable summers, and some of the finest dining and shopping in the state. This impressive list of features aligns with what many homebuyers are looking for in their next long-term residence.

“The resort towns offer the ability to live your passion whether it’s skiing, biking, hiking, camping, not to mention they provide a small-town feel, slower pace and closer communities,” commented Aaron Shriner, Vice President and Managing Broker of LIV Sotheby’s International Realty’s Summit County and Winter Park office locations.

Through Q3 of 2020, the resort real estate market has made a major comeback from where it was in the spring when the market practically came to a halt due to COVID-19 restrictions. According to LIV Sotheby’s International Realty’s Q3 Micro Market Reports, Colorado has seen a surge in the number of sold listings in some of its most popular regions including the Vail Valley, Summit County, Telluride, and Crested Butte.

In Summit County, home to Colorado’s No.1 ranked ski destination—Breckenridge Ski Resort—according to SnowPak, home sales climbed by 7.9% through Q3 of 2020.This already extremely popular destination became a permanent home to many who had previously only vacationed here in the wake of the pandemic–changing the market in ways that haven’t before been seen.

“Summit County has experienced three different and unique markets this year,” explained Shriner. “The first quarter was a very healthy and balanced market, the second quarter became an extreme buyers’ market, with a surplus of available homes. But through the third quarter we’ve seen yet another shift where the demand for homes is so strong there aren’t enough homes on the market to meet the need. Typically, these market swings will happen over the course of a decade, not in less than a year.”

The luxurious Vail Valley, which is home to Colorado’s most popular ski resorts–Vail and Beaver Creek–saw a 14.7% increase in single family home sales through Q3 of 2020, compared to the same time period of 2019.

These sought-after resort communities have been a well-known hot spot for investing in second homes and vacation homes. With lifestyle being the biggest focus of the community, due to the high-end shopping, dining and outdoor activities, buyers are finding more reasons to invest in Vail Valley real estate.

“People are realizing that they don’t need to be in a congested area which has contributed to the increase in real estate activity at all price points,” explained Fitchett. “The volume of sales has just about doubled since last year, and last year was a good year.”

Deep within the San Juan Mountains, in Southwest Colorado, the historic mining town of Telluride offers its residents a chance to escape the ordinary. Here, the only commute you might make is taking the Gondola from Telluride to the neighboring town of Mountain Village. The laid-back lifestyle and stunning surroundings have lured buyers from all over to this resort town and the numbers can prove it. From January to September of 2020, San Miguel County, which includes Telluride, saw a 56.3% increase in total properties sold.

“Telluride’s real estate market is at its highest and best in 13 years in terms of dollar volume, number of transactions and average transaction price,” commented Peggy Raible, Vice President and Managing Broker of LIV Sotheby’s International Realty’s Telluride offices.

Crested Butte, another seemingly tucked away, yet breathtaking resort community, saw a 13.6% boost in the number of sold properties through Q3 of this year compared to the same timeframe last year. This community feels worlds away in its idyllic setting, complete with a small-town feel. Although the pace of this town can be leisurely, the local real estate market has been anything but that.

“A top producer in our office described our market as ‘red hot’,” said Scout Walton, Vice President and Managing Broker of LIV Sotheby’s International Realty’s Crested Butte office. “The local market took off in June and hasn’t let up since. We are on track to break the all-time residential sales volume record for the valley. In spite of the pandemic, Crested Butte is booming.”

All of this growth in Colorado’s real estate markets stems from one thing, lifestyle. Many consumers have reprioritized and are rethinking their long-term plans for where they want to live and what kind of lifestyle will suit them best. This switch has led to a boom in Colorado’s real estate markets that shows no signs of slowing down.

Although the pandemic is the catalyst that sparked this change, what many consumers are experiencing right now is freedom unlike any they’ve ever had before. We are no longer confined to the cities and towns in which we work. In a matter of minutes, we can be video conferencing with colleagues or clients halfway around the world without needing to leave our homes. Where we live is now driven by our dreams of a life we’ve always wanted.

This new opportunity begs the question: if you could live anywhere, where do you find your passion? If your answer to that question has to do with a lifestyle of luxury, crisp air and the outdoors, Colorado’s resort towns await you.