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Happy Friday!

Here’s another little green shoot – some good news from the Beaver Run condo complex (the biggest condo complex in Breckenridge):

• We charted all six sales of studio and 1-bedroom units in 2009, and the price-per-square-foot has stabilized! (See the magenta line). In fact, there’s a very slight uptrend (yellow line).

For Beaver Run studio and 1-bedroom condos:

• The peak selling prices occurred May-Sept 2008, and averaged $703 per sq ft
• Selling prices in 2009 are roughly flat, at around $570 per sq ft
• That’s a drop of around 19% from the peak – but based on the last six sales, prices aren’t falling anymore
• Sales of these condos simply stopped for over 5 months. After a sale on 9/26/2008, the next sale of a Beaver Run studio or 1-bedroom condo wasn’t until 3/3/09 – that was kind of scary, but it’s behind us now.

Compare this to our recent posting, “Are Breckenridge Condo Prices Headed Up?”

Have we reached the bottom? Indications are, that for Beaver Run studio and 1-bedroom condos, we have!

Contact us today to get your little piece of the best place on earth.

Hi, everyone!

As a follow-up to our blog posting of September 1, 2009: “Signs of Life For Breckenridge Condos”, consider the following chart:

• It plots the selling price, and the price per square foot, for all 22 condos that sold for under $300,000 in Breckenridge, since 1/1/2009. If we examine the trend of the price-per-square-foot data, there is an annualized upward trend of +16.7%!
• It’s not all peaches and cream – prices in Breckenridge have fallen, roughly 15% to 25% from the peak prices which occurred around 1/1/2008. Condo prices are no exception. But, it appears that for condos under $300K, prices may have found their new lower level, reached the bottom, and may be heading back up.

Note that there were only a few sales in the early part of the year, and sales picked up markedly once we got into the summer months. For condo sales under $300K, it appears the worst is behind us and we may be on the upswing! So, contact us today to get that affordable Breckenridge condo – while it’s still affordable. For more info on this segment, see our previous posting, “Signs of Life for Breckenridge Condos”.

To be clear, as of 9/3/2009, this is the strongest part of the Breckenridge real estate market. Other sectors such as Breckenridge land and high-priced homes and high-priced condos are still seeing declining prices (although the supply is beginning to come down for some of those sectors). As such, they remain a rare buying opportunity – for the time being.

Will this upwards pricing trend for the more affordable condos continue? Will this segment lead the Breckenridge real estate market to full recovery? Only time will tell – so, check back later!