Happy New Year!
Here’s the year-end review for the real estate market in Breckenridge, Colorado.
It’s a strong buyer’s market. Prices are roughly flat since January 2009, and the number of sales has stabilized and is actually moving up.
There’s plenty to choose from, prices are rolled back to 2005-2006 levels, and sellers are motivated. If you’ve been wanting to invest in Summit County, CO, now is the time!
The chart above shows the number of residential sales (homes, condos, townhomes, duplexes, and vacant lots) for each of the years 2002 through 2010.
- 2005 was the peak year for number of transactions
- 2009 was the lowest year for number of transactions
- The number of properties sold in 2010 is up 15% vs 2009
- The total sales volume (the sum of all selling prices) is up 4% vs 2009
- 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 strong downtrend in selling prices for all of 2009 – 2010.
Interest rates are still super low, the stock market is up 78% 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.