How's The Market?
Hey everybody,
Teresa here!
So I guess you are wondering what is going on these days in Breckenridge? Or maybe you have speculations about the market? Well, here is the scoop. The number of residential sales are up 47% this year so far. Yahooo! Sounds good doesn’t it? You betcha! Bearing in mind that it was sooooooo dead last year, 47% on nothing is well……………….we are very excited.
It feels like there is pent-up demand. People want to get in on the best deals they can because they are figuring the market is repairing itself and they don’t want to miss out. This does seem to be the case. What you have to know is that the sales that are happening are after our poor sellers have reduced their prices many times to accommodate a lower market. There is also quite a bit of inventory out there to choose from and the buyers know this.
Contrary to popular belief, we are not having a lot of foreclosures but we do have our share. Remember, this is a resort market so many of our owners own multiple properties and often have the luxury of not needing to sell until the market goes up.
We are seeing some small real estate companies closing down and only the big dogs are able to hang in there with deep pockets. RE/MAX luckily is one of them and we are doing well. If not I would be waiting tables right now! :-[ I think since Roger and I have been here for so many years (13 in May) we have a good client base that is coming back to us to buy right now. To all of you we are grateful.
So that is the quick update, just to let you know we are still here, life is good in the mountains, fresh powder, lots of tourists and friendly people. As you know, Roger will be giving you the charts and statistics about the market. In fact, I married an engineer and that has come in so handy for our real estate business. Ha!
See you next time and remember: if you know of anybody that is interested in real estate in Breckenridge, we are Your Mountain Realtors!
Teresa
