The Truth About the Breckenridge Real Estate Market in 2016

Breck Real Estate Market 2016

Breckenridge real estate is on fire in certain segments!

What a crazy year so far! We are now at a 9 year low on inventory in Summit County? Seriously! For the first time in almost 20 years as a realtor in Summit, I have been in bidding wars on the last two deals I have done. One home I listed and received over 15 calls from agents to show it! We ended up selling it in 48 hours at $10,000 over the asking price. This was a home that needed fixing up. The next home, $25,000 over asking price. It is a lovely home and needs nothing and was beautiful. Sounds like Denver right?

It is crazy, however, this is only happening if the property is priced right and in demand like a fixer upper or a lovely home where the seller prepared it to sell and priced it right. I know it is confusing. There are some listings that have been on the market for over a year or more. Those are the sellers that are trying to ride the market meaning they are waiting for the market to meet what they want for their property and it is perhaps overpriced or dated and just doesn’t show well.

Most  importantly whether you are buying or selling a home make sure you use an agent that understands the Breckenridge real estate market and does not make blanket statements such as “oh the market is great right now!” Ask questions!! Find out what is going on in that segment of the market that you are interested in whether it is investment property in Breckenridge that you want to rent out in town, ski in ski out, or a cabin in the woods for the family.

In the meantime, the snow is great right now! Come and see us!

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