Keystone Property Search

Tucker Zimmerman is a Summit County Realtor with Slifer Smith & Frampton with extensive experience in the Keystone market. Keystone is a building-by-building market where ski access, village location, HOA details, and STR licensing all vary considerably. I know which buildings deliver and which ones disappoint, and I can help you avoid the traps buyers fall into here regularly.

303-907-9129 or TZimmerman@SliferSummit.com.

Keystone, Colorado Real Estate: What Buyers Need to Know

Keystone is one of the most STR-friendly resort markets in Summit County, and that is not a small thing. The resort was purpose-built for vacation use, most buildings allow short-term rentals at the HOA level, and the county's licensing program for unincorporated areas is more straightforward here than the zone-and-waitlist systems you deal with in Breckenridge or Frisco.

The first thing to understand about Keystone as a market: it is Colorado's newest incorporated town, having become a municipality on February 8, 2024 after residents voted to incorporate in March 2023. That is recent enough that plenty of information online still describes Keystone as unincorporated Summit County, which is no longer accurate. The Town of Keystone now has its own town council, home rule charter, and STR licensing program. For buyers, that distinction matters.

What makes Keystone interesting as a market is the genuine range of options within a relatively contained geographic area. River Run Village is ski-in/ski-out or very close to it. Mountain House has its own base area character. Lakeside Village is quieter with lake access. The golf corridor has a completely different feel. Each village and neighborhood serves a different buyer, and comparing across them on price alone without accounting for location and ski access is how people end up disappointed.

Year-round usability has also improved significantly. Keystone's summer draw with mountain biking, the lake, golf, and the kids' programs has made it a more compelling four-season investment than it was a decade ago.

Keystone Villages and Neighborhoods

Keystone is best understood as a collection of villages rather than one uniform resort. Where you buy within Keystone matters as much as buying in Keystone at all.

  • River Run Village — the primary base area with the gondola. Ski-in/ski-out or extremely close for most buildings. The most in-demand village for rental income and ski access. Buildings like Springs at River Run and Buffalo Lodge are the anchors here. Highest prices per square foot in Keystone.
  • Mountain House — the original base area. Walk to lifts, more affordable than River Run, older buildings. Good value for buyers who want ski access without River Run prices.
  • Lakeside Village — quieter, lake-oriented, further from the ski lifts. Better for buyers who want the Keystone address and four-season access without paying the ski-access premium.
  • The Forest — tucked between Lakeside Village and Keystone Ranch, this is one of the most affordable and underappreciated areas at Keystone. A collection of amenity-rich condo buildings in a quiet, wooded setting with free bus service to the ski area. Buyers who do not need to be steps from the lifts and want more building amenities for the money should absolutely look here. It is the part of Keystone that locals know about and out-of-town buyers often overlook.
  • Golf Course / Keystone Ranch Area — single-family homes and townhomes along the golf courses. More residential, bigger footprints, further from resort activity. Different buyer profile entirely.

Want help figuring out which village fits your budget and use case? That is usually a 15-minute conversation. Call or text me.

Property Types in Keystone

Ski condos in River Run and Mountain House range from studio lock-offs to three-bedroom units. The lock-off configuration is worth understanding — a true lock-off lets you rent two separate units or live in one while renting the other, which changes the income math considerably. See Keystone condos for sale.

Townhomes offer more space and storage and are scattered across multiple villages. Some have excellent ski access; others trade proximity for space and price. Worth comparing carefully across locations.

Single-family homes in Keystone tend to be in the golf course areas and Keystone Ranch. More privacy, bigger lots, less ski-base feel. See Keystone homes for sale.

Short-Term Rentals in Keystone

Keystone has the most accessible STR program of any incorporated town in Summit County. No cap. No waitlist. The Town of Keystone took over STR licensing in late 2024 and operates a straightforward program: apply, get approved within 30 days, and you are renting. That is a significant advantage over Frisco's 9 to 12 month waitlist or Breckenridge's zone-based complexity.

The entire Town of Keystone falls within what was previously the unincorporated Summit County Resort Overlay Zone, and the new town program preserved that favorable designation. Every residential property within Keystone town limits is eligible to apply for an STR license. The process is relatively simple, the fee is $285 annually, and licenses expire September 30 each year. The one consistent rule across all Summit County jurisdictions applies here too: licenses do not transfer on sale. You apply fresh after closing, but with a 30-day turnaround and no cap, that is not a meaningful obstacle.

One thing to know: not every property with a Keystone mailing address is inside Keystone town limits. The town boundary is specific. Properties outside the boundary fall under unincorporated Summit County rules, which are different. Use the Summit County GIS tool to confirm which program applies before you close.

Keystone STR quick facts

Town of Keystone STR license required for properties inside town limits. No cap on licenses. No waitlist. All Keystone town properties eligible. License turnaround approximately 30 days. Annual fee $285. Licenses expire September 30 annually. Licenses do not transfer on sale. Properties outside town limits use unincorporated Summit County rules instead. Verify jurisdiction via GIS before closing.

Full details: Keystone STR guide. Countywide comparison: Summit County STR hub. Questions about a specific property? Call me directly.

Keystone STR quick facts

No town government, no town STR program. Summit County Snake River Basin license required. Most buildings HOA-permit STRs, but verify the specific building. Resort overlay areas have better license access than non-overlay properties. Licenses do not transfer on sale. Guest tax applies at checkout. Confirm current basin availability before closing.

Full details: Keystone STR guide. Countywide comparison: Summit County STR hub. Want to verify the overlay status of a specific building? I can pull that quickly.

Things Keystone Buyers Get Wrong

  • Treating all villages as equivalent. River Run, Mountain House, and Lakeside Village have meaningfully different ski access, price points, and rental dynamics. A unit in Mountain House at the same price as River Run is not an equal deal — it is a different product.
  • Not understanding lock-off configurations. A one-bedroom with a studio lock-off can outperform a two-bedroom without one on rental income because you can rent two units simultaneously. Understand what you are actually buying.
  • Assuming all Keystone buildings HOA-permit STRs. Most do, but not all. Verify the specific building's HOA rules before you make an offer.
  • Ignoring the resort overlay distinction for STR licensing. Properties inside resort overlay areas have meaningfully better STR license access than those outside. This is not a minor detail for investment buyers.
  • Skipping HOA due diligence. Keystone has buildings from multiple eras. Older Mountain House buildings in particular can have deferred maintenance situations. Read the reserve study before you close.

Selling in Keystone

Ski access and village location are your primary positioning levers in this market. Buyers from outside the area often do not understand the village differences intuitively, so the listing needs to make the case clearly. STR income history and rental potential are also significant factors for most Keystone buyers. Full strategy at Selling Keystone Real Estate, or call me directly: 303-907-9129.

Keystone Real Estate FAQs

Is Keystone ski-in/ski-out?

Parts of it are. River Run Village is the closest to true ski-in/ski-out access. Mountain House requires a short walk to the base lifts. Lakeside Village requires a shuttle or longer walk. Ski access varies considerably by building and location within each village.

Can I short-term rent a Keystone property?

Yes, and this is one of the best STR situations in Summit County. The Town of Keystone has no cap and no waitlist. Every property inside town limits is eligible. You apply after closing, get approved within about 30 days, and you are renting. Licenses do not transfer on sale but with a 30-day turnaround that is not a real obstacle. Properties outside town limits with Keystone addresses use unincorporated Summit County rules, so verify jurisdiction first. Full details in the Keystone STR guide.

Does Keystone have its own town government?

Yes, as of February 8, 2024. Keystone incorporated in March 2023 and became Colorado's newest municipality in early 2024. It now has its own town council, home rule charter, and STR licensing program. A lot of older information online still describes Keystone as unincorporated Summit County, which is no longer accurate.

How does Keystone compare to Breckenridge for investment buyers?

Keystone has a significantly more accessible STR program: no cap, no waitlist, 30-day license turnaround. Breckenridge's STR path is more complex with zone-based caps. Keystone also has lower price points than Breckenridge. Breckenridge has stronger name recognition and higher nightly rates that can offset its complexity for the right property. Both work for investment buyers but Keystone is the easier path to getting rental-ready quickly after closing.

Who should I contact about buying or selling in Keystone?

Tucker Zimmerman, Associate Broker, Slifer Smith & Frampton. I work the full Keystone market across all villages and property types, and I know which buildings deliver on what buyers are looking for and which ones have issues worth knowing before you commit. 303-907-9129 or TZimmerman@SliferSummit.com.

Ready to Talk Keystone?

Tucker Zimmerman — Associate Broker, Slifer Smith & Frampton
303-907-9129  •  TZimmerman@SliferSummit.com  •  SoldInSummit.com

New Keystone Properties

$332,000
1 Baths ⋅ S1071558 MLS
Welcome to your cozy, updated retreat in the heart of Keystone! Located in the sought-after Gateway building, this move-in or rental-ready studio offers the perfect blend of modern comfort, alpine charm, and ultimate mountain convenience. Freshly transformed with brand new Luxury Vinyl Plank (LVP) flooring throughout, a full bathroom, and beautiful rustic furnishings, including a custom log dining table, this space perfectly balances durability with mountain aesthetic. Designed to maximize both space and utility, the clever floor plan sleeps up to 5 guests comfortably using a built-in Murphy bed, a charming log futon, and a sleeper loveseat. Owners will also appreciate the rare perk of pet-friendly access, making it a true home away from home. Beyond the condo itself, the Gateway building boasts premier amenities including a heated indoor pool, hot tub, fitness center, and heated underground parking. You will love the unbeatable location with a quick walk to the slopes and the vibrant energy of River Run Village. Best of all, everyday essentials and local favorites are right downstairs on the ground floor. Enjoy a famous breakfast at The Haywood Cafe, grab your morning espresso or an evening craft beer at Steep Brewing & Coffee Company, pick up gear at Breeze Ski Rentals, grab provisions at Gateway Grocery & Liquor, or stop by SummitCove Property Management for on-site support. Whether you are searching for a short-term rental investment or an affordable year-round basecamp for all your Summit County adventures, this turnkey Keystone studio delivers unmatched value, comfort, and mountain living at its finest.

23110 Hwy 6 Unit 262, Keystone
$1,449,000
2 Beds ⋅ 2 Baths ⋅ S1071519 MLS
If you've been waiting for the River Run condo that doesn't feel like a condo, you just found it. Black Bear 8051 is arguably the most exceptional 2-bedroom residence in the Village; a one-of-a-kind mountain home spanning three sides of the building with a remarkable 1,424 SF, an oversized south-facing deck and commanding, straight-on views of Keystone’s ski runs. Completely remodeled with a contemporary rustic, cabin-inspired style, soaring wood ceilings, a stone fireplace and beautifully updated kitchen and baths give 8051 a character all its own. The enormous primary suite offers room for additional beds or bunks, helping the home comfortably sleep up to eight. In-residence laundry and multiple locked owner closets add rare convenience. Step outside and the gondola is just out the door, with River Run’s restaurants, après-ski bars, shops and events right downstairs. Ski until the lifts close, then hit the hot tub or settle onto your deck with a drink and watch the last light disappear from the mountain. With a strong rental history and numerous 10/10 guest reviews, 8051 can generate income when you’re away. Forget cookie-cutter. This is the River Run ski home buyers wait years to find.

129 River Run Rd Unit 8051, Keystone
$1,699,000
1 Beds ⋅ 2 Baths ⋅ S1071506 MLS
This newly completed penthouse ski-in/ski-out Kindred Residence is an oversized one bedroom, two bathroom condominium residence that offers a wall of glass with 17 foot vaulted ceilings capturing views of surrounding mountain peaks, ski-slopes, wetlands, river, gondola and all that makes Keystone one of North America’s most loved and visited resorts. Kindred Resort is a true ski-in/ski-out luxury resort that will elevate your experience. Interior finishes include mountain modern décor with a well-appointed kitchens, washer/dryer included in every property, sleek modern fireplaces, A/C for those who wish to stay cool during warmer summer months. The flexible layout also allows for the addition of a Murphy bed, offering the ability to sleep extra guests comfortably. Whether you're hosting friends after a day on the mountain or settling in for a quiet evening at home, this residence is designed for refined and comfortable mountain living. The Gondola is situated 75 feet from the West Tower offering direct access to the ski slopes for winter and mountain biking access for summer. As a Kindred Owner, you will have full access to the resort's private amenities including lounge pool, two oversized hot tubs, cabanas, fitness room, spa, ski valet, valet parking, and full access to the private Owner’s Club including your own private locker. Kindred Resort offers multiple dining and entertainment experiences at Kindred Spirits, Lula's, Goods Tavern, Kinji, as well as the pool and hotel courtyard offering everything from casual bites to elevated dining experiences. Kindred's full-service offerings extend further with spa services, dedicated concierge, room service, and more. This Kindred Residence isn't just another Keystone Resort condominium; it is an elevated experience with an A+ location in one of North America’s premier mountain resorts, offering the convenience of higher-end amenities, features, and services that will help create lasting memories with family and friends.

75 Hunki Dori Ct Unit W506, Keystone
$593,000
1 Beds ⋅ 1 Baths ⋅ S1071510 MLS
Experience the best of Keystone from this beautifully updated one-bedroom condo in the heart of River Run Village. Just a short walk from the gondola, enjoy skiing, dining, shopping, and year-round mountain recreation right outside your door. The private balcony offers ski slope and village views, while the inviting interior features COREtec flooring, stainless steel appliances, newer granite countertops, and newer furnishings, including a leather sofa sleeper and oversized chair. Silver Mill amenities include hot tubs, fitness room, sauna, heated underground parking, and a private ski locker, plus access to an outdoor pool and additional slope-side hot tubs. An ideal mountain retreat or investment property in one of Keystone's most desirable locations.

140 Idabelle Dr Unit 8254, Keystone
$337,775
2 Beds ⋅ 2 Baths ⋅ S1071459 MLS
Welcome home to 170 Wayback Drive #730 - a top-floor, deed restricted condo in Keystone, CO. This 2 bedroom, 2 bathroom unit offers convenient covered parking in a tandem carport, and a spacious storage room provides plenty of room for all your gear. Located in a prime area with easy access to outdoor recreation, dining, and resort amenities, this is the perfect mountain home for a Summit County Local. The sale of this property is subject to a Summit Combined Housing Authority Lottery Process. To make an offer on the property, you must be approved through the SCHA for West Hills, work in Summit County 30 or more hours per week. Individuals working in the Snake River Basin (from Arapahoe Basin Ski Area to the Easterly Reach of Dillon Reservoir) or the Snake River Inlet near Swan Mountain Road (this will include Summit Cove) will receive priority in the purchase of the unit for the initial 20 days. Buyer must meet the definition of a qualified occupant, and fall within the unit’s AMI limit of 110% AMI, or $144,430. Lottery Application on SCHA’s Website will be open September 18th - September 28th. Contact SCHA with qualified buyer questions.

170 Wayback Dr Unit 7304, Dillon
$2,199,000
4 Beds ⋅ 5 Baths ⋅ S1071173 MLS
Experience elevated mountain living in this turnkey 4-bedroom, 4.5-bathroom home in Keystone. Thoughtfully designed with generous living spaces, exceptional views, and an ideal location, this home offers the space and comfort you want for relaxing weekends, entertaining family and friends, and enjoying everything the Colorado mountains have to offer. The main level features an open-concept design with plenty of room to gather, while the lower-level living space creates a more relaxed setting for movie nights, games, or unwinding after a day on the slopes. Two west-facing decks extend the living space outdoors, including a private hot tub deck overlooking Keystone’s ski slopes and a second deck perfectly positioned to take in spectacular sunsets toward the Tenmile Range. Two spacious primary suites provide added privacy and comfort, including a main-level suite with its own private deck showcasing views toward the Continental Divide and Keystone’s ski slopes. The primary bathroom features a large soaking tub, creating a perfect place to relax after a day in the mountains. An oversized heated 2-car garage and private elevator serving all three levels add a level of convenience that is hard to find in a mountain property. The location is equally impressive. Walk to the Mountain House Base Area and ski slopes or take the nearby shuttle throughout Keystone and Summit County. Bordering White River National Forest and 10 acres of protected wetlands, the home enjoys a peaceful, private setting while remaining close to the best of Summit County. Five world-class ski resorts, four golf courses, Lake Dillon, and endless hiking, biking, fishing, and outdoor recreation are all within 30 minutes or less. A rare combination of luxury, views, privacy, and accessibility, this is an exceptional opportunity to own a true mountain retreat in Keystone.

184 Caravelle Dr Unit 20, Keystone
$585,000
2 Beds ⋅ 1 Baths ⋅ S1071322 MLS
Welcome to Unit 1146 at Flying Dutchman, a beautifully updated top-floor residence in the heart of West Keystone - your perfect base camp for year-round mountain adventures! Vaulted ceilings, new Renewal by Andersen windows and sliding door, and west-facing exposure create a bright, inviting space with peaceful wooded and mountain views. The open living area features a newly converted gas fireplace, updated kitchen, and private balcony. The main-level bedroom and full bath are complemented by a spacious loft upstairs, offering flexible space for guests, additional sleeping accommodations, or a home office. Thoughtful updates include new waterproof LVT flooring, baseboards, interior paint, windows and sliding door, a new roof, gas fireplace, and furnishings. Enjoy an outdoor pool, hot tubs, sauna, grilling areas, ski locker, and free ski shuttle right outside your door. With skiing, hiking, biking, dining, golf, and the Snake River all nearby, this is mountain living made easy. Come home, recharge, and get ready for tomorrow's adventure.

1937 Soda Ridge Rd Unit 1146, Keystone
$749,000
2 Beds ⋅ 2 Baths ⋅ S1071369 MLS ⋅ Foxtail BLDG.
Enjoy forever views of the Continental Divide and Snake River wetlands from this tastefully updated and extremely well cared for Pines 2-bedroom property. This immaculate home has never been rented and feels brand new with fresh carpeting, trim work, and paint. Even the baseboard heaters have been recently replaced! Fully furnished right down to the pots and pans makes this truly turn key and ready to enjoy from day one. Special end unit location with great views from the private balcony, living room, and primary suite. True 2-bedroom property each with adjoining bathrooms. Entire property is all one level (i.e. no loft bedroom). Real wood burning fireplace with firewood included in the HOA dues. Easy access to and from skiing via the Keystone resort shuttle bus system. Wonderful pool and hot tub amenities with grilling area and sundeck. Adjacent to the extensive Summit County paved bike path system. Owner pets allowed. No transfer tax. Town of Keystone currently allows for short terms rental of this property if desired.

21680 Us Highway 6 Unit 2069, Keystone
$2,385,000
3 Beds ⋅ 4 Baths ⋅ S1071443 MLS
Experience elevated mountain living at 59 Erickson Loop. Townhomes in this community are exceptionally rare to come to market, making this an outstanding opportunity in River Run Village in one of Keystone’s most desirable settings. The home is the only townhome in the community with long-range sunset views from the back balcony, showcasing sweeping 180-degree views of the ski slopes and National Forest. Just a five-minute walk to River Run Village and the gondola, this exceptional residence offers easy access to skiing, dining, shopping, ice skating, the playground, and the community pool and hot tub at Dakota Lodge, while still enjoying a peaceful setting tucked away from road noise. Built in 2017 and gently enjoyed for only about two months per year, this home presents a like-new interior and has never been rented. Inside, several upgrades and designer finishes create a warm mountain aesthetic, including in-floor radiant heat throughout the living areas and garage, a dramatic floor-to-ceiling stone fireplace, high-end chandeliers in the main living and dining spaces, custom laundry cabinetry, and custom wood ceiling beams in the vaulted primary suite. High-quality furnishings are included. Designed with both comfort and entertaining in mind, the lower-level living room is outfitted with bunk beds and functions like a fourth sleeping area, allowing accommodations for up to 10 guests. The garage has never housed cars and has instead been transformed into a fully finished recreation space with painted walls, built-in cabinetry, epoxy floors, foosball, and a combination air hockey, ping pong, and pool table setup. The townhome sits directly on the Erickson Loop common area, complete with a fire pit, outdoor seating, summer flowers, and a winter play space for kids with frequent moose sightings adding to the Keystone experience.

59 Erickson Loop Unit 4B, Keystone
$885,000
2 Beds ⋅ 2 Baths ⋅ S1071433 MLS ⋅ Silver Mill BLDG.
This beautifully remodeled 2 bedroom 2 bathroom unit at Silver Mill offers everything you could want in a mountain retreat. This property offers an excellent location in the heart of River Run Village, just a short walk to the River Run Gondola, restaurants, shops, and year round events. A full high end renovation of the building’s shared entrance and lounge is underway, designed to introduce a more upscale and inviting feel to the complex, with completion expected in June. The exterior of the building was freshly repainted in 2025, giving the complex a clean and updated appearance. Owners and guests enjoy access to hot tubs, sauna, ski storage, laundry, and underground parking, all in one of Keystone’s most convenient base area communities. Enjoy access to the Dakota pool and hot tubs with ownership at Silver Mill. Silver Mill owners also get exclusive access to the gym located on the parking garage level of the building, which was recently fully remodeled. One of the few HOA's that includes ALL of your utilities in your HOA dues, making your monthly expenses predictable. Don't miss this opportunity to own in River Run in a newly renovated building and unit!

140 Ida Belle Dr Unit 8272, Keystone
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