A new record has been set in Summit County’s real estate market.
Bo Palazola, founder and real estate broker of Day Palazola Group, led the sale of a Breckenridge home for $17 million, crushing the last record set in 2019 for a home in the same neighborhood that sold for $10.1 million.
The home at 460 Timber Trail Road is 7,200 square feet and has seven bedrooms and 7.5 bathrooms plus luxuries like a heated driveway, over 2,000 square feet of heated outdoor patio space, an 18-person in-ground custom hot tub and a three-car garage. The most notable draw of the property, and the one that sold the home, according to Palazola, is that it’s one of five ski-in, ski-out lots that back up to the base of Peak 8 at Breckenridge Ski Resort.
Besides the amenities, Palazola said the home is stunning with vaulted ceilings, reclaimed barn wood, and exposed wood and steel beams.
Palazola said the seller was a young family who used the nearly 1-acre property as a second home. Completed in 2018, the home sold to another out-of-town buyer. Palazola wouldn’t say where the owners live but confirmed they were not Colorado residents.
According to previous Summit Daily reporting, the last home that set a record was a $10.1 million home in the same neighborhood at 382 Timber Trail Road. That home was also a seven-bedroom house that is 6,565 square feet. The same home also broke the county’s real estate record in 2009 when it sold for $8.28 million.
As for what’s in store for the future, Palazola said he expects the local real estate industry to continue booming.
“The market is only going up. It’s unbelievable,” Palazola said. “… These destination resort niche markets are only going to go up.”
President of Summit Realtors Courtney Peroutka agreed, stating that the current boom is noteworthy for its quick pace and high volume.
“This is an exciting market, and we are breaking lots of records like days on the market and average price,” Peroutka wrote in a text. “These are historic times we are living in and people want to be in Summit (and) Park counties because we live in an amazing place.”