Hello from Breckenridge, Colorado!
Here’s more good news, from the Highlands At Breckenridge luxury home subdivision:
- We charted all 37 home sales in this subdivision since 1/1/2009, and the price-per-square-foot is stable! (See the magenta line). There’s a slight -2.1% percent per year downtrend (yellow line) in the price per square foot, but that’s not a major trend.
- The sold prices ranged from $850,000 to $2,199,000.
- The last three sales were:
- $199 / sq ft on 1/25/11 (We had the buyer! Bank owned)
- $295 / sq ft on 2/8/11
- $390 / sq ft on 3/24/11
For homes in The Highlands At Breckenridge subdivision:
- The peak selling prices occurred roughly from July 1, 2007 to July 1, 2008, and averaged $401 per sq ft
- Selling prices from January 1, 2009 through April 22, 2011 averaged $305 per sq ft
- That’s a drop of around 24% from the peak
- Although there have been a few foreclosures and bank-owned sales, on average the selling price per square foot in the Highlands has bottomed out, and since 1/1/2009 it is roughly flat.
So, we’re having a sale! Luxury home prices in this prestigious subdivision have been rolled back 24%.
What a great time to buy, in one of the most affordable ski resort towns in the U.S.!