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!
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.