Luxury Home Prices Stabilize

Happy Friday!

Here’s more good news, this time from the Highlands At Breckenridge luxury home subdivision:

• We charted all 17 home sales in this subdivision in 2009, and the price-per-square-foot has stabilized! (See the magenta line). In fact, there’s an 11 percent per year uptrend (yellow line) in the price per square foot. The sold prices ranged from $850,000 to $2,199,000.

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 in 2009 averaged $310 per sq ft
• That’s a drop of around 23% from the peak
• Prices appear to have bottomed out, and since 1/1/2009 they are rising at a rate of 11% per year

Compare this to our recent posting, “Recovery for Higher End Breckenridge Homes”

So, we’re having a sale! Luxury home prices have been rolled back 23% – but they are rising off of their lows.

What a great time to buy, in one of the most affordable ski resort towns in the U.S.!