Top Locations to Purchase a Vacation Home in Colorado

Stunning mountain vistas, world-class ski resorts, and endless outdoor activities await in these vacation spots in the Centennial State.

Fact checked by Elizabeth MacLennan

It’s not difficult to see what makes Colorado a year-round haven for vacationers. Home to 32 ski resorts, four national parks (including the majestic Rocky Mountain National Park), 42 state parks, and 15 national forests, the Centennial State offers endless possibilities for outdoor adventures and adrenaline-inducing activities. Moreover, the 26 scenic byways transform an ordinary drive into an awe-inspiring sightseeing experience.

Even those who prefer a more leisurely pace have plenty to anticipate. With several hundred breweries, over 150 wineries, and dozens of craft distilleries, Colorado will certainly leave you in high spirits. Consequently, it’s no surprise that the market for second homes in the state is thriving.

“There’s been a lifestyle shift in the mentality of consumers. People want to spend more time living where they want to be rather than where they work, which is why we’ve seen a migration to the mountains and an influx of vacation home and second homeowners in the Vail Valley and Colorado in general,” Malia Cox Nobrega, a real estate broker at LIV Sotheby’s International Realty, explained via email.

Thinking about investing in your own slice of Colorado paradise? Here is a list of the seven best places to buy a vacation home in the Centennial State.

Vail: A Year-Round Destination

The Vail Valley is home to two beloved ski resorts – Vail and Beaver Creek – with the former renowned for its world-class ski slopes and facilities, luxury accommodations, shopping, fine dining, and a vibrant cultural scene. Vacationers flock to Vail Valley for its golf courses, fly fishing opportunities, and hiking trails in the summer as well. Thanks to Eagle County Airport, located about 35 miles from Vail’s downtown, this small Colorado town is easily accessible from every corner of the country.

“The Vail Valley has historically been a place where people want to vacation – it’s the complete package, a getaway to the mountains in a rural setting that also provides high-level amenities from the nearby resorts and towns,” Nobrega noted.

In the first two quarters of 2022, the average sold price for a home in Vail exceeded $3.5 million, with the most expensive property fetching a staggering $31 million, according to a report from LIV Sotheby’s International Realty.

Breckenridge: A Historic Getaway

This historic mining town in Summit County is a vibrant vacation destination bustling with activity throughout all four seasons. Breckenridge Resort, which spans 3,000 acres, attracts thrill-seekers with its skiing and snowboarding options in winter. The town is also home to North America’s highest chairlift, providing breathtaking mountain views. In the summer, enjoy biking, scenic lift rides, fishing, and exploring the iconic Tenmile Range of the Rockies.

However, if you’re keen on making Breckenridge your second home, be prepared to act quickly. Properties in June 2022 sold 52 percent faster compared to the previous year and remained on the market for an average of just 19 days. The median sale price for a single-family home during the same period surged 28 percent, reaching nearly $1.8 million as the availability of homes declined.

Telluride: A Cultural Hub

Nestled in the stunning San Juan Mountains, the town of Telluride is compact, measuring just eight blocks wide and 12 blocks long, yet it offers an abundance of activities. Skiing, snowboarding, ice climbing, dog sledding, fly fishing, and horseback riding are among the year-round attractions for residents and visitors. Furthermore, the town is renowned for its diverse cultural offerings, from gourmet restaurants to live music and annual festivals.

Consequently, the real estate market is exceptionally dynamic. The average sold price for a single-family home from June 2021 to June 2022 surged 24 percent to $2.7 million.

Crested Butte: Nature’s Paradise

For winter sports enthusiasts, this small mining town in Gunnison County is truly exceptional. With an average of 220 inches of snow each season, Crested Butte is a skier’s paradise. The town also maintains a population of about 1,600 year-round residents, making it an ideal spot to unwind surrounded by calm, scenic views. In the summer, over 50 types of wildflowers bloom, earning Crested Butte the title of “Colorado’s wildflower capital.” With Gunnison/Crested Butte Airport just 30 miles away, investing in property here also presents substantial rental potential.

Winter Park: Adventure Awaits

Whether you’re drawn to water or winter sports, Winter Park offers it all. This town has certainly hit the location jackpot. Located just 60 miles from downtown Denver and in proximity to Rocky Mountain National Park, Winter Park invites you to enjoy year-round activities such as boating, hiking, and biking in one of America’s most-visited national parks.

Additionally, Winter Park Resort is a family-friendly alpine resort that boasts 3,000 acres of skiable terrain divided into seven territories, suitable for skiers of every skill level.

Steamboat Springs: The Expanding Gem

While this Northern Colorado town is quite popular with vacationers, real estate values in the area have not yet soared to the heights of those in Vail or Aspen. Residents and investors can still find a variety of properties, ranging from several-hundred-thousand-dollar condos to multimillion-dollar mansions.

However, this situation may soon change as Steamboat Ski Resort is undergoing major expansion plans to become the second-largest resort in Colorado. A new gondola, an ice rink, and more après-ski restaurants, bars, and shops are set to emerge in the next three years, which will likely increase property values and enhance the allure of Steamboat Springs.

Colorado Springs: Affordable Charm

Colorado Springs presents excellent outdoor activities and properties at much lower prices than other, more well-known cities in the state. However, if you’re considering investing in this beautiful town, you might want to expedite your search. Colorado Springs is one of the fastest-growing cities in the nation, with its population increasing by 37 percent from 2000 to 2020.

Located at the foot of Pike Peaks, Colorado Springs features Instagram-worthy mountain vistas alongside a rich cultural and entertainment scene, as well as myriad outdoor adventures.