Author: The Moens Team

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How's The Market 5/1/12

How’s the real estate market in Breckenridge, Colorado?

The number of sales in Breckenridge is down 19% vs last year at this time, but countywide the number of sales in overall Summit County is up 1% vs last year. Interestingly, the average selling price in Summit County so far in 2012, is up 4% vs all of 2011 – but does that really mean that prices are rising? Watch our one-minute video, below, to find out! We filmed it from a gorgeous vacant lot for sale, with a river running through it! For more details on the market, see our article, Are Prices Going Up?

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.



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Are Prices Going Up?

Hello from Breckenridge, Colorado!

Are prices going up yet?

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

The short answer is: County-wide, overall average selling prices are starting to rise, but that is only because there have been a few more sales of luxury properties vs affordable properties. Prices in a given complex or subdivision are, for the most part, flat.

The chart below shows the average sold prices for residential properties in Summit County.

  • “Residential” means homes, condos, townhomes, duplexes, or vacant land
  • The data for 2006-2011 is for the full year. The data for 2012 is from 1/1 to 4/30/12.
  • County-wide, the average sold price in 2011 was $495,931. The average sold price so far in 2012 is $516,595. That’s an increase of 4.2%. So prices are going up, right? Not necessarily. See the bullets below the chart!


Screen shot 2012-05-01 at 7.26.28 AM

  • Suppose there were just two choices: Cozy Condos or Fancy Homes. In 2011, there are 10 sales of Cozy Condos, each at $300,000. There are 2 sales of Fancy Homes, each at $1,000,000. The average selling price is [ (10 x $300K) + (2 x $1M) ] / 12 = $416,667.
  • In 2012, the market improves and there are more sales of everything. We go from 10 to 12 sales of Cozy Condos, again at $300,000 apiece. And one more Fancy Home sale than last year for a total of 3 sales, again each at $1,000,000. The average selling price is [ (12 x $300K) + (3 x $1M) ] / 15 = $440,000.
  • That’s an increase in the average selling price of $440K / $416.7K = 5.6%. Yet, Cozy Condos sold for $300K and did not go up in price. Fancy Homes sold for $1M and did not go up in price. Overall aggregate market statistics can be misleading.
  • To really know what’s going on with prices, you have to look at selling prices per square foot in a specific complex or subdivision such as One Breckenridge Place. That’s the approach we take.


So, now you know the story on overall market averages vs prices in a specific complex or subdivision. Believe it or not, we have even more data, so if you like market statistics, you know who to call!


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Gold Flake Home For Sale

Our newest listing – an exquisite home for sale near downtown Breckenridge, Colorado!

How can a home be in town, yet in the forest? And with ski area views from almost every window? This exclusive home is in the prestigious Gold Flake subdivision within walking distance to downtown Breckenridge, with log accents and high end finishes! Five bedrooms, three fireplaces, a great room, family room, and more. Listed by RE/MAX Properties of the Summit, 220 S Main St, Breckenridge, CO

Click for photos and more information about this Gold Flake home, listed at $1,650,000.

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.



Roger and Teresa Moen
Your Mountain Realtors
970.376.2039