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Keystone Sells $25 Million of Real Estate in 45 Minutes

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Upon arriving in Gulmarg, the mountains are hidden in low fog, and the place is covered in a fresh dumping of snow. But I can see where the gondola…

Keystone, CO, Aug. 17–Keystone Resort sold $25 million of real estate in 45 minutes Monday, selling all 26 home sites and just about half the 50 townhomes slated for development at Settlers Creek.

When the doors opened at 10 a.m., priority reservation holders purchased all 26 mountain home sites located on the eastern edge of Keystone Resort for prices ranging from $279,900 to $624,900. Of the 50 townhomes, 23 were sold with prices ranging from $379,900 to $899,900. The average selling price was just over $635,000.

“We have had an unbelievably successful track record in selling high-end mountain resort property at Keystone,” said Peter Benson, vice president, Keystone Real Estate Developments. “With the sale of 92 percent of Lone Eagle in just over an hour last December, I’m not surprised by the success of Settlers Creek.”

Two opportunities were offered: A limited number of home sites were available for purchasers to build their own mountain dream home-the first in a long time at Keystone-and there were also two- to four-bedroom townhomes averaging 1,480 square feet in size.