Breckenridge Market Overview 8/15/11
Hello, everybody!
Here’s the local real estate market update, with sales statistics for Breckenridge, Colorado!
Yes, it’s still a strong buyer’s market. Prices are roughly flat since January 2009, and the number of sales is clearly on the rise.
The chart above shows the number of residential sales (homes, condos, townhomes, duplexes, and vacant lots), from January 1st of a year, to August 15th of that year.
- 2005 was the peak year for number of transactions (year to date)
- 2009 is the lowest year for number of transactions
- The number of properties sold to date in 2011 is up 19% vs this date in 2010! And up 46% vs 2009!!
- The total sales volume (the sum of all selling prices) is down 2.2% vs 2010. However, 2010 had a high sales volume partly because the high-end luxury condo complex One Ski Hill Place was completed in mid-2010. 2011 has to compete against those dozens of high-end sales, most over $1 million per condo!
- The prices of properties peaked in late 2007 / early 2008. Prices are currently 25-30% 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 continuing downtrend in selling prices. Some areas show slight increases, some show slight decreases, but the overall stabilization and recovery of the local Breckenridge real estate market is unmistakeable
- It’s still a strong buyer’s market because there are so many listings from which to choose
- Compare the above chart, to the year-end chart of sales in Breckenridge
Interest rates are still super low, and despite recent volatility and losses, as of 8/15/11 the stock market is up 75% from its low in March 2009, and we are expecting the recovery to continue. So contact us today!
Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.