I wanted to share some charts & graphs to help you understand the current Breckenridge market more fully.Here’s a long-term chart showing all active residential listings (homes, condos, townhomes, duplexes, vacant land) – no commercial, no timeshare.Note the rapid up/down seasonal fluctuation in the number of active listings – always more listings on the market in the summer, fewer in the winter.The more important thing to notice: the better the overall state of the US economy, the fewer the listings there are. During the years 2004 – 2007, the number of listings went down as the general US economy was thriving. The number of active listings bottomed out in 2007 with only ~350 listings. Then the Great Recession hit. People still wanted to sell, but very few sales occurred, so the inventory skyrocketed to over 1,200 listings in Summer 2009 and again in Summer 2010.As we recovered from the Great Recession, the inventory decreased pretty steadily, from 2011 through 2020, and then by late 2020 the “COVID FEVER BUYING FRENZY” was in full swing, and the inventory plummeted to just ~60 listings, in Spring 2021 and again in Spring 2022.Zooming in on the last few years…This chart is a close-up of just the past few years. Note that inventory plummeted in late 2020 and early 2021 as COVID-fueled buying fever prevailed. Then, starting in Summer 2022, the market cooled a bit and inventory rose.. but it still peaked at around 260 listings in Fall 2022 … and now it’s dropping pretty fast again.As of 12/15/22, there were only 165 listings on the market. That is lower than anytime prior to the onset of COVID. It’s still a seller’s market, as long as there is so little inventory. Properties are currently selling faster than new ones are coming on the market, so the number of listings is dropping.Questions? Need answers? Roger and I are your number ONE professional choice for our knowledge, expertise and advise. We look forward to assisting you. Happy Holidays.
By Roger Moen
Posted on December 21, 2022 at 12:50 pm
Tags: active real estate listings, Current Breckenridge market, inventory in Breckenridge, seller’s market, townhomes in Breckenridge