Yes, STR eligibility has a real, measurable, and in some property types a very large effect on resale value.
A few important assumptions:
Frisco: Properties were categorized as STR-eligible. Although Frisco currently operates with a waitlist, we treated licensing there as reasonably obtainable over time.
Unincorporated Summit County: Properties in capped areas, including portions of the Upper Blue and Lower Blue basins, were categorized as non-eligible because current wait times can extend for years.
Dillon: This area required additional manual review because the MLS-designated Dillon area includes both properties within the Town of Dillon and nearby unincorporated Summit County, which can have very different STR rules.
We also compared both average sold price and median sold price. Looking at both helps reduce the influence of a small number of unusually high-priced transactions.
Among single-family homes, average prices for STR-eligible and non-eligible properties remained relatively close.
That is not especially surprising. Summit County has limited single-family inventory, and factors such as acreage, views, neighborhood, architecture and luxury finishes can have an enormous influence on sale price.
Townhomes and duplexes showed a much clearer divide.
Properties without STR eligibility experienced weaker pricing after 2023, while STR-eligible properties generally continued appreciating.
Condos demonstrated a similar pattern, although the difference was smaller than we initially expected.
One important note: 2026 data includes sales only through July, so the final 2026 figures should be viewed as directional rather than a complete annual result.
Average sale prices can be heavily influenced by a handful of ultra-luxury transactions. Median price gives us a better look at the property’s market’s more typical transaction.
When we looked at median prices, the STR divide became clearer.
Even single-family homes began showing a measurable difference beginning around 2023.
The largest separation, however, appeared among townhomes and duplexes.
Over roughly the past three years, the median sale price of a townhome or duplex without STR eligibility has hovered near $750,000, while STR-eligible properties have generally been closer to $1.25 million to $1.5 million.
That is a substantial difference.
The comparison is admittedly broad — it does not adjust for square footage, bedroom count, condition or exact location — but it demonstrates how differently the two segments of the market have been trading.
Condos showed a similar trend. During 2024 and 2025, median prices for non-STR-eligible units were generally closer to $500,000, while STR-eligible condos were more commonly in the $800,000 to $900,000 range.
The single-family difference was greater than we expected, although it remains the smallest of the three property categories.
Condos showed a roughly 50% difference, while townhomes and duplexes displayed the largest divide.
The takeaway is fairly straightforward:
Short-term rental eligibility appears to be associated with higher resale values across all three property types, but the relationship is especially pronounced in attached housing.
What Happens When We Look Town by Town?
We also wanted to know whether the results were concentrated in one area or visible across multiple Summit County communities.
Frisco, Keystone and Copper Mountain were excluded from this comparison because the properties included in our analysis were categorized as STR-eligible, leaving no meaningful eligible-versus-non-eligible comparison.
Breckenridge
Breckenridge produced some of the most dramatic differences.
Condo prices showed a substantial separation, while townhomes and duplexes approached a 100% difference in median sale price during portions of the analysis.
Median pricing was approximately:
- $2 million for STR-eligible townhomes and duplexes
- $1 million for non-eligible properties
Single-family homes require more caution. Only six STR-eligible single-family homes sold during the period analyzed, making that sample too small to draw a strong conclusion.
Silverthorne
Silverthorne also showed meaningful pricing differences.
Among single-family homes, median pricing was approximately $1.6 million for non-eligible properties compared with roughly $2.1 million for STR-eligible homes.
The condo market showed an even larger separation. Non-eligible units have been closer to the $500,000 range, while eligible condos have moved beyond $900,000 in portions of the study period.
Townhomes and duplexes have also shown significant differences, with values varying by approximately $500,000 depending on STR eligibility in some comparisons.
Dillon
Dillon is more complicated because STR regulations vary considerably within what the MLS identifies as the Dillon market.
Single-family inventory is relatively limited, and the pricing difference was modest.
Townhomes and duplexes showed a larger separation, particularly among properties near Dillon Reservoir and areas such as Lookout Ridge that retain rental eligibility.
Condos produced the clearest difference.
Properties near Dillon Reservoir, the Dillon Amphitheater and Corinthian Hill that remain eligible for short-term rentals have generally sold considerably higher than properties in areas such as Dillon Valley, where new STR licensing is restricted.
What Does This Mean for Buyers?
For buyers who do not need short-term rental income, restricted properties may present an opportunity.
In several portions of Summit County, those properties are selling at meaningful discounts compared with similar property types that retain STR eligibility.
For a buyer primarily looking for a mountain residence, second home or long-term hold, that difference can create a considerably lower entry price.
On the other hand, buyers who value rental flexibility should understand that STR licensing may affect more than annual rental income. Based on the sales we analyzed, it may also influence future marketability and resale value.
What Does This Mean for Current Owners?
If you purchased before many of the STR regulations took effect, the licensing status of your property has become an increasingly important component of its market position.
Two properties that might once have competed for the same buyer may now appeal to very different groups depending on whether short-term rentals are permitted.
That makes understanding the exact STR regulations affecting your neighborhood — and sometimes your specific property — increasingly important when determining value.
Important Limitations
There are several limitations to this analysis.
This study compares sold prices, not price per square foot, and it does not control for every difference in property size, age, condition, location, views or amenities.
That means we cannot say STR eligibility alone caused the price differences.
Instead, the data demonstrates a strong correlation between short-term rental eligibility and higher sale prices, particularly among condos, townhomes and duplexes.
Additionally, 2026 includes sales only through July, so those figures are incomplete. Some individual market segments — particularly STR-eligible single-family homes in Breckenridge — also contain relatively small sample sizes.
As additional sales close, we intend to continue watching these trends.
Wondering Where Your Property Falls?
Short-term rental regulations in Summit County can change dramatically from one neighborhood — or even one side of a street — to another.
Whether you’re considering buying a more affordable non-STR property, evaluating the value of a property you already own, or trying to understand the rental rules before making an offer, our team can help you work through the details.