Luxury Home Prices Still Stable
Hello from Breckenridge, Colorado!
Here’s more good news, from the Highlands At Breckenridge luxury home subdivision:
- We charted all 32 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 slight 2.7% 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 November 2010 averaged $309 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 2.7% 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.!