Happy New Year!
Here’s the year-end review for the real estate market in Breckenridge, Colorado.
Get the quick answer from our 1-minute video, or see the details below.
We have a buyer’s market that is recovering and slowly moving towards a more balanced market, especially for entry level (affordable) homes and condos. Prices per square foot are roughly flat since January 2009, and the number of sales is clearly moving up.
There’s plenty to choose from, prices are rolled back to 2005 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 in Breckenridge (homes, condos, townhomes, duplexes, and vacant lots) for each of the years 2004 through 2012.
- 2005 was the peak year for number of transactions
- 2009 was the lowest year for number of transactions
- The number of sales rose 15% in 2010 (over 2009); rose 18% in 2011 (over 2010); and rose another 12% in 2012 (over 2011)
- On average, the number of residential sales in Breckenridge has increased 15% per year, three years in a row, since 2009
- The total sales volume (the sum of all selling prices) is up nearly 16% vs 2011.
- The prices of properties peaked in late 2007 / early 2008. Prices are currently around 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 price-per-square-foot for all of 2009 – 2012.
- For overall Summit County, the chart looks quite similar to the one above, but the numbers are all roughly double. (Breckenridge accounts for around 40-45% of the sales in Summit County). County-wide, the number of sales was lowest in 2009; rose 11% in 2010; rose 10% in 2011; and rose a whopping 19% on top of that in 2012. On average, the number of residential sales in all of Summit County has increased 13% per year, three years in a row, since 2009.
Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.