Blog

|

Breckenridge Market Update: March 2014

Hello from Breckenridge, Colorado!

How’s the local real estate market? We have a recovering market, with the number of residential sales up 19% over last year at this time. How has the number of listings varied, over the years, and seasonally? When do we have the most listings on the market? The fewest?

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

The short answer is: The number of residential listings varies seasonally; low in January, high in July. From a multi-year standpoint, the number of listings was much lower back in 2007 during a hot real estate market. Overall the number of listings is falling as the market recovers.

Inventory Mar 2014 500

The chart above shows the total number of active residential listings over time: homes, condos, townhomes, duplexes, and vacant land.

  • About 400 residential listings for sale in 2007 (a hot market)
  • As the market fell into the Great Recession, properties stopped selling while more inventory came on the market
  • Over 1,200 properties for sale in 2009 and 2010
  • As the market recovers, the number of properties continues an overall decline; however, there is a seasonal market fluctuation
  • The fewest properties on the market in January/February; the most properties on the market in July/August
  • On average, there are 30% more properties on the market in July than in January

So, if you are thinking of listing, now is a good time to start thinking about getting your property on the market! It’s best to have it on the market by June 1 so that our summer visitors can find your property online when planning their summer trip to Breckenridge.

So call us today, to get started!

Roger & Teresa Moen
Your Mountain Realtors
(970) 376-2039

|

Teresa’s take on things for second home owners and buyers

Every once in awhile I like to just tell you straight what is happening. So it looks like 2014 is going to be great. We have already sold millions of dollars in real estate and the first quarter isn’t even over. This means it is going to be a great summer. Summer is when we sell most of the homes here in Summit County. Because the prices are still low as we recover from the recession the buyers are buying up everything I believe that many of our home owners and condo owners have been waiting for the market to recover before they list their properties. Since we are seeing some appreciation things are starting to move. Our inventory is low right now for second homes. If you are thinking about selling this is a great time to get it out there for those summer buyers. The buyers are happy because they are still getting in on those 2005-06 prices and low interest rates. Remember here in Breckenridge those ski in ski out properties start to become available as the winter ski tourist go home and the summer buyers come in.

Watching out for our client’s second homes

Freeze Alert: Colorado

 
888.88.BluSky
 

Freeze Alert:

Icy weather and dipping temperatures are upon us! As temperatures drop, risk of frozen pipes goes up.

Water freezing in your water line can cause the water pressure in that line to increase.  As water in the supply line freezes, it expands pushing against all the water between it and your property.  This build-up in pressure can increase enough to cause a pipe to burst or fracture at its weakest link.Follow these top tips to avoid unexpected water damage.
Top Tips

 Interior:

  1. Set your thermostat to at least 60 degrees
  2. Let your faucets drip – pipes that run through an unheated or unprotected space should be left with the water flowing
  3. Open cabinet doors under sinks, allowing heated air to circulate around pipes
  4. Protect faucets & pipes in unheated areas with pipe insulation, towels or rags, or heat tape

Exterior:

  1. Identify exterior pipes and potential problem areas before a pipe bursts, including disconnecting exterior hoses
  2. Know where your property’s water shut-off valve is and how to turn it off

 

To unsubscribe from receiving this newsletter please click here