More signs of life in the real estate market in Breckenridge, Colorado! Little green shoots of market activity.
This time our focus is higher end homes: homes between $1 million and $2.5 million. (Earlier, we examined condos under $300,000 and saw a strong recovery)
Check out the chart below, and you’ll see that the data is pointing towards a recovery in this sector:
- The number of month’s supply is trending down – that’s the number of active listings, divided by the number of sales in a recent period.
- The yellow line, “Month Supply (short)” is based on short-term market activity: the number of current active listings vs the number of sales in the past 3 months.
- The blue line, “Month Supply (medium)” is based on current actives vs sales in the past 6 months, and the magenta line, “Month Supply (long)” is based on current actives vs sales in the past 12 months.
- In a steadily improving market, the short-term yellow line is the lowest, and the long-term magenta line is the highest – and all three lines are trending down. That’s exactly what we see below! An improving market for higher end homes in Breckenridge.
Check back from time to time, for additional market statistics and observations for beautiful Breckenridge, CO, where “It’s a great time to be a buyer!”