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Luxury Home Prices Stable in Breckenridge

Hello from Breckenridge!

Here’s more good news, this time from the Highlands At Breckenridge luxury home subdivision:

  • We charted all 27 home sales in this subdivision since 1/1/2009, and the price-per-square-foot is stable! (See the magenta line). In fact, there’s a 4 percent per year uptrend (yellow line) in the price per square foot. The sold prices ranged from $850,000 to $2,199,000.


For homes in The Highlands At Breckenridge subdivision:

  • The peak selling prices occurred roughly from July 1, 2007 to July 1, 2008, and averaged $401 per sq ft
  • Selling prices from January 2009 through August 2010 averaged $310 per sq ft
  • That’s a drop of around 23% from the peak
  • Prices appear to have bottomed out, and since 1/1/2009 they are rising at a rate of 3.8% per year


So, we’re having a sale! Luxury home prices have been rolled back 23% – but they are rising off of their lows.

What a great time to buy, in one of the most affordable ski resort towns in the U.S.!



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Snow in June in Breckenridge, CO

Snowfall in June! That is typical – we usually get a few inches of snow in early June, and that’s usually the last snow until late September. We live just outside Breckenridge, Colorado. Our house is at an elevation of 10,700 feet above sea level. Fortunately, the snow melted within a day.


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How's The Market?

Hi friends, clients and family,

People ask me what I think the market will do, or is this the bottom, or what about the lenders etc………………….

So is your crystal ball fuzzy? Mine is a little.

Here is what I think……….

The lending market is at the bottom I believe. When was the last time you saw interest rates at 4.25%? After the terrible time in 2008 and 2009, the lenders are starting to loosen up a little and feel more comfortable about lending money and wanting the business. Keep in mind the interest rates on a second home or investment property are about a quarter point higher.

I am also seeing more people pay cash for their vacation or rental properties. This is great for sellers as this is usually a quick closing and they feel more secure when there is not a loan involved or an appraisal. This is great for the buyers because “money still talks!”

There is a flood of inventory so sellers are having to lower their prices. Supply and demand!!!! This is a buyer’s market so if you don’t have to sell, my advice would be to sit on your property until the market is more in your favor. Timing is everything after all!

Overall, the market is improving thank goodness. The sales in Breckenridge alone are up 42% over last year at this time. Don’t just take my word for it! See for yourself.

So, bottom line is, we are not going anywhere, Americans are extremely resilient and I believe there is pent up demand and people want to be here in the mountains enjoying life again. I know I do. 😀

See you next time and remember: if you know of anybody that is interested in real estate in Breckenridge, we are Your Mountain Realtors!

Oh by the way – we have a new video introducing ourselves – check it out!

Teresa