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How is the summer shaping up for Breckenridge Real Estate?

real estate investments in BreckenridgeIt is looking like it is going to be a great summer for real estate! The market is finally starting to show appreciation and lots of activity, especially in the lower price ranges. The very high end market is still sluggish.

The real estate market in Breck has become more balanced. During the recession, the buyers were worth gold while the sellers were really taking a hit because the prices had not risen to where they were prior to recession. Now it is a balanced playing field. I have had a few properties that were sold before I could get to my desk to write an offer! This hasn’t happened for many years.

It is still not too late to get a good price on a great second home or real estate investment property here in Breckenridge. Whether you are looking for a vacation home or a real estate investment property, the Breckenridge market is doing well!

real estate investments in BreckenridgeAnother thing to consider is that this time of year is when we have the most inventory to choose from. The skiers have gone home and sellers are ready to put their properties on the market. Real estate investment properties are still a great opportunity. With Breckenridge’s tourism numbers on the rise– summer and winter— rental properties are becoming more and more profitable.

Want to read more about real estate investment properties in Breckenridge? Click here.

Summit County Sales Data

For the county. Sales are up about 11% with the average sold price up about 7.5%. The North Side sales (Dillon, Frisco, Keystone, Copper and Silverthorne) are down only 2% now with an average sold price change of -4.5% (just 8 days ago the North Side sales were down -9.6% and the average sold price change was down -6.6% – the North Side is improving). The South Side (Breckenridge) is up 10% in average sold price and up 33% in the number of sold properties (just 8 days ago the average price was up 8.8% and the sales were up 28.6% – the South Side is continuing to improve as well).

Breckenridge Market Update: March 2014

Hello from Breckenridge, Colorado!

How’s the local real estate market? We have a recovering market, with the number of residential sales up 19% over last year at this time. How has the number of listings varied, over the years, and seasonally? When do we have the most listings on the market? The fewest?

Get the quick answer from our 1-minute video, or see the details below.

The short answer is: The number of residential listings varies seasonally; low in January, high in July. From a multi-year standpoint, the number of listings was much lower back in 2007 during a hot real estate market. Overall the number of listings is falling as the market recovers.

Inventory Mar 2014 500

The chart above shows the total number of active residential listings over time: homes, condos, townhomes, duplexes, and vacant land.

  • About 400 residential listings for sale in 2007 (a hot market)
  • As the market fell into the Great Recession, properties stopped selling while more inventory came on the market
  • Over 1,200 properties for sale in 2009 and 2010
  • As the market recovers, the number of properties continues an overall decline; however, there is a seasonal market fluctuation
  • The fewest properties on the market in January/February; the most properties on the market in July/August
  • On average, there are 30% more properties on the market in July than in January

So, if you are thinking of listing, now is a good time to start thinking about getting your property on the market! It’s best to have it on the market by June 1 so that our summer visitors can find your property online when planning their summer trip to Breckenridge.

So call us today, to get started!

Roger & Teresa Moen
Your Mountain Realtors
(970) 376-2039

Summit County Foreclosures Dec 2013

Hello from Breckenridge, Colorado!

What’s going on with foreclosures in Summit County? Are there more than ever, or fewer than there were?

Get the quick answer from our 1-minute video, or see the details below.

The short answer is: The wave of foreclosures has clearly crested, and is on the decline. The number of foreclosures in Summit County is half of what it was last year, and only about one-third of what it was in 2011.

The chart below shows the number of properties that went into foreclosure in Summit County:

  • All property types (homes, condos, land, commercial, etc) are included except timeshares
  • In 2008, there were only 33 foreclosures, county-wide. In 2009: 47. Then a big jump to 104 in 2010, peaking at 145 foreclosures in 2011.
  • So far, through the end of November 2013, we’ve had 46, vs 82 last year at this time. So, we are at roughly half the number of foreclosures compared to last year at this time. Good news!
  • At the end of November 2011, there were 137 foreclosures. Compare to 46 so far in 2013, we have only one-third the number of foreclosures vs 2011. That’s great news!

SummCntyForeDec2013 500

The raw data for this chart was provided by Maggie Dew, the Business Development Officer for the Summit County branch of Stewart Title. You can reach her at (970) 393-2536. Thanks, Maggie!

Please contact us if you have any questions about the above information.

Roger and Teresa Moen

Roger & Teresa Moen
Your Mountain Realtors
(970) 376-2039

Residential Market Sales by Price Point

Residential Market Sales by Price Point : Residential sales for all of Summit County in October 2013 had 209 transactions with $98,968,000 gross sales volume.   There were 15 properties that sold for $1M and above in October.  The most active price points in October were once again between $200K -$300K.   October had 67 single family, 142 multi-family and 13 vacant land transactions.

Breckenridge Market Update

Here’s the mid-year review for the real estate market in Breckenridge, Colorado.

We have a buyer’s market that is steadily moving towards a more balanced market. Portions of our market are actually starting to favor sellers; for example, homes under $500,000 and condos under $300K.

There’s plenty to choose from, prices are rolled back to 2005 levels, and interest rates are low but creeping up. If you’ve been wanting to invest in Summit County, CO, now is the time!

BreckNSales 500

The chart above shows the number of residential sales in Breckenridge (homes, condos, townhomes, duplexes, and vacant lots) for the period January 1 to June 30 for each of the years 2005 through 2013.

  • 2006 was the peak year for number of transactions
  • 2009 was the lowest year for number of transactions
  • The number of sales year-to-date is up 26% over last year at this time, and is more than double what it was in 2009! And the YTD-sales exceed those of 2008! We are well into an unmistakable market recovery.
  • On average, the number of residential sales in Breckenridge has increased 20.4% per year since 2009
  • The total sales volume (the sum of all selling prices) year-to-date is up 27% vs 2012 on this date. This is what one would expect, if prices are also mostly flat: the increase in $ sales volume, matches the increase in the number of transactions vs last year (26%).
  • The prices of properties peaked in late 2007 / early 2008. Prices are currently around 30% below that peak.
  • Prices have stabilized. Several condo complexes and subdivisions are showing that sold prices per square foot are roughly flat since 1/1/2009. There is no strong trend, either up or down, in selling price-per-square-foot for all of 2009 – 2013. However, we’ll be posting our latest analysis showing that prices for homes under $500K are beginning to creep up.

Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.

Highlands Home Sales Are Strong

Hello from Breckenridge, Colorado!

Sales are strong in the Highlands At Breckenridge luxury home subdivision. As of today, 5/11/2013, there is a 10-month supply of homes in the Highlands (just the original Highlands subdivision – not the golf course filings nor Discovery Hill, etc).

Some details:

  • We charted all 65 home sales in this subdivision since 1/1/2009, and the price-per-square-foot is stable and slightly rising! (See the red line). There’s a slight +2% percent per year uptrend (green line) in the price per square foot.
  • The most recent sale (blue line) was for $3,400,000 on 4/24/13, which is the highest sales price in this subdivision, ever!
  • The last three sales were:
  1. $359 / sq ft on 4/8/13 – We (Roger & Teresa) had the buyer!
  2. $389 / sq ft on 4/24/13 – An agent in our Breckenridge RE/MAX office had the buyer!
  3. $448 / sq ft on 4/24/13 – Once again, an agent in our Breckenridge RE/MAX office had the buyer!

The average sold price per square foot since 2009 has been $309 / sq ft, so these last three sales are well above the average.

So, for the last 3 sales, the Breckenridge RE/MAX office had the buyer! Hmmm… I guess you know who to call! Roger & Teresa at (970) 376-2038!
Screen Shot 2013-05-11 at 11.15.37 AM

It’s great to see continued strength in our local real estate market, isn’t it? With the stock market at an all time high, and interest rates at historic lows, it looks like 2013 is shaping up to be a fantastic year for Breckenridge.

Breckenridge Market Update

Hello from Breckenridge, the best ski town in the Colorado Rockies!

Here’s the spring-time review for the real estate market in Breckenridge, Colorado.

We have a buyer’s market that is steadily moving towards a more balanced market. Portions of our market are actually starting to favor sellers; for example, there is only a 2-month supply of homes under $500,000 in Breckenridge! Overall, prices per square foot are roughly flat since 2009, and the number of sales is clearly moving up.

There’s plenty to choose from, prices are rolled back to 2005 levels, and interest rates are low. If you’ve been wanting to invest in Summit County, CO, now is the time!

Screen Shot 2013-05-11 at 1.41.50 PM

The chart above shows the number of residential sales in Breckenridge (homes, condos, townhomes, duplexes, and vacant lots) for the period January 1 to May 5 for each of the years 2005 through 2013.

  • 2006 was the peak year for number of transactions
  • 2009 was the lowest year for number of transactions
  • The number of sales year-to-date is up 32% over last year at this time, and is more than double what it was in 2009!
  • On average, the number of residential sales in Breckenridge has increased 20% per year since 2009
  • The total sales volume (the sum of all selling prices) year-to-date is up 32% vs 2012 on this date. (This is what one would expect, if prices are also flat: the increase in $ sales volume, matches the increase in the number of transactions).
  • The prices of properties peaked in late 2007 / early 2008. Prices are currently around 30% below that peak.
  • Prices have stabilized. Several condo complexes and subdivisions are showing that sold prices per square foot are roughly flat since 1/1/2009. There is no strong trend, either up or down, in selling price-per-square-foot for all of 2009 – 2013.

Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.

Breckenridge Year-End Review 2012

Happy New Year!

Here’s the year-end review for the real estate market in Breckenridge, Colorado.
http://www.themoens.com//files/breckenridge_year_end_video_2011.html
Get the quick answer from our 1-minute video, or see the details below.

We have a buyer’s market that is recovering and slowly moving towards a more balanced market, especially for entry level (affordable) homes and condos. Prices per square foot are roughly flat since January 2009, and the number of sales is clearly moving up.

There’s plenty to choose from, prices are rolled back to 2005 levels, and sellers are motivated. If you’ve been wanting to invest in Summit County, CO, now is the time!

Screen Shot 2013-01-29 at 4.57.09 PM

The chart above shows the number of residential sales in Breckenridge (homes, condos, townhomes, duplexes, and vacant lots) for each of the years 2004 through 2012.

  • 2005 was the peak year for number of transactions
  • 2009 was the lowest year for number of transactions
  • The number of sales rose 15% in 2010 (over 2009); rose 18% in 2011 (over 2010); and rose another 12% in 2012 (over 2011)
  • On average, the number of residential sales in Breckenridge has increased 15% per year, three years in a row, since 2009
  • The total sales volume (the sum of all selling prices) is up nearly 16% vs 2011.
  • The prices of properties peaked in late 2007 / early 2008. Prices are currently around 30% below that peak.
  • Prices have stabilized. Several condo complexes and subdivisions are showing that sold prices per square foot are roughly flat since 1/1/2009. There is no strong downtrend in selling price-per-square-foot for all of 2009 – 2012.
  • For overall Summit County, the chart looks quite similar to the one above, but the numbers are all roughly double. (Breckenridge accounts for around 40-45% of the sales in Summit County). County-wide, the number of sales was lowest in 2009; rose 11% in 2010; rose 10% in 2011; and rose a whopping 19% on top of that in 2012. On average, the number of residential sales in all of Summit County has increased 13% per year, three years in a row, since 2009.

Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.

How's The Market 1/28/13

Happy New Year! It’s time for our year-end review!

How’s the Breckenridge, Colorado real estate market? It’s still a buyer’s market, but recovering nicely. Which year had the highest number of residential sales? The least? Are the number of sales increasing? Watch and find out! Filmed at the International Snow Sculpture Championships in Breckenridge. For more details, see our 2012 year-end review.

Did you know: you can expand the video to full screen? While the video is playing, click the YouTube button, then click the Full Screen button.

Please check back from time to time, for more videos.