Breckenridge Market Update
Here’s the mid-year review for the real estate market in Breckenridge, Colorado.
We have a buyer’s market that is steadily moving towards a more balanced market. Portions of our market are actually starting to favor sellers; for example, homes under $500,000 and condos under $300K.
There’s plenty to choose from, prices are rolled back to 2005 levels, and interest rates are low but creeping up. 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 the period January 1 to June 30 for each of the years 2005 through 2013.
- 2006 was the peak year for number of transactions
- 2009 was the lowest year for number of transactions
- The number of sales year-to-date is up 26% over last year at this time, and is more than double what it was in 2009! And the YTD-sales exceed those of 2008! We are well into an unmistakable market recovery.
- On average, the number of residential sales in Breckenridge has increased 20.4% per year since 2009
- The total sales volume (the sum of all selling prices) year-to-date is up 27% vs 2012 on this date. This is what one would expect, if prices are also mostly flat: the increase in $ sales volume, matches the increase in the number of transactions vs last year (26%).
- 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 trend, either up or down, in selling price-per-square-foot for all of 2009 – 2013. However, we’ll be posting our latest analysis showing that prices for homes under $500K are beginning to creep up.
Please check back from time to time, for more Breckenridge Colorado real estate market statistics and analysis.