Breckenridge & Summit County Real Estate Statistics | Breckenridge Associates Real Estate | Page #3

Breckenridge Associates Real Estate - The Top Performing Breckenridge Brokerage in 2019

#1 in Breckenridge Real Estate Sales Volume
#1 in Breckenridge Real Estate Transactions
#1 in Breckenridge Real Estate Sales Over $1 Million

It’s been a banner start to the year for real estate sales in Breckenridge and Summit County. Our team has proven to be the trusted name for real estate in Breckenridge, leading the charge in overall dollar volume sales, number of transactions and transactions over $1 million.

Recently, we were part of the highest sale in the county with a luxury home sale of $10,100,000 in Breckenridge’s Timber Trail Neighborhood. Our office has already been a part of six sales over $2 Million in the first four months of 2019. We are…

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Mountain resort towns, such as Breckenridge, historically have shown steady trends in sales price growth due to being naturally positioned as luxury markets. Breckenridge is charming all on its own, but checks all the boxes when it comes to access, amenities, year-round services, and small town appeal. These attributes are key to mountain town markets and help to provide significant value to the Breckenridge homeowner and buyer.

Immediate access to recreation and a multitude of available commercial amenities set Breckenridge apart. Mountain and trail accessibility, dozens of restaurant choices, boutique shopping, free and easy public transportation, a neighboring medical center and key anchor stores, such as Whole Foods and Target, in nearby towns…

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Current inventory (supply) vs. sales (demand) within the single family home market segment of Breckenridge real estate is reflective of a market trend when summarizing statistics through 2018. In defining supply vs. demand in reference to single family homes, supply is defined as the current number of active Breckenridge listings, while demand is defined as the number of sales. We’ve taken a snapshot of the single family market and reviewed how the market performed in different price categories within the single family home market segment in 2018.

As shown in our graphic, demand in the $1-2 million listing category of Breckenridge far surpasses available inventory. The $2-3 million price categories follows suit in outpacing supply, but with fewer sales…

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Are you thinking of selling your home, but wondering when it’s the right time to list your property? Don’t wait until the spring to decide. Take advantage of the hot sellers’ market now. Supply is low, demand is high, and sales are happening quickly in Breckenridge and Summit County. The current market indicates buyers are out there, and they have been willing to pay close to asking price on average, according to recorded 2018 real estate transactions.

The local Breckenridge market has experienced a steady decline of available inventory since the middle of 2015 all the way through 2018*. In July of 2015 available inventory began to trend downward and is currently less than half of what it was in the earlier part of that year. Residential listings are…

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With a roaring jobs report, and the economy growing in the third quarter at an annualized rate of 3.5%, wages up, an unemployment rate well below 4%, and amidst high consumer confidence levels, the Fed is almost sure to raise the interest rate to 2.5% at their December meeting. This will be the fourth interest rate boost this year, deployed as a measure against unsustainable growth.    As mortgage rates often move in anticipation of the Fed meeting and possible/probably rate boosts, it no surprise that the week of November 1-8, 2018 saw a jump in mortgage interest rates.  Freddy Mac pegs the average 30 year fixed rate mortgage at 4.94%- a seven year high. It’s notable that we are still below 5%, a number that seemed unattainable not that many years…

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A friend from the Bay Area recently visited Colorado for the first time. He was, of course, taken by the natural beauty and the healthy lifestyle, but was breathless about the real estate. Why didn't anyone tell me real estate was so affordable in Colorado? My brothers house is 1000 square feet larger than mine and cost 30% of what I paid! His perception of our market came down to not just to home sale pricing, but our low taxes and lifestyle. This is of course, coming from one of the most expensive markets in the world, but is a great glimpse into the mindset of our out-of-state buyers.

The average sales price of a single family home in Breckenridge through the end of September 2018 was $1,347,303.00 or $422.04 a square foot. The average sales price…

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The economy has come roaring back from the recession of 2008. We are seeing this strength in all sectors, and housing in Summit County is no exception. While we have yet to hit every peak of the pre-2008 summit County real estate records, we are pushing towards those numbers for the first time in a decade. This is remarkable as inventory remains at a record low and days on market are head-whippingly fast. While most economic forecasters expect the Fed to raise the rates two more time this year, in September and December, there is a rift on predictions for 2019.

A bump in the Fed rate can mean a bump in mortgage costs, making home purchases more expensive. Tracking the cost of borrowed money and staying in front of increases is a good way to help manage…

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It has been often repeated that 2017 was a once-in-a-generation sellers market in Summit County. That said, summer of 2018 continues the trend toward a healthy real estate market here in the high country. While July 2018 showed stronger numbers than July 2017 regarding number of sales, there was a 6.12% softening in sales year-to-date. Considering the record low number of available listings and the slight uptick in mortgage rates, that decline is slight and, on the whole, results indicate a strong market.

Seventy-two percent of all buyers in July of 2018 came from within Colorado, and only 1% of Summit County buyers are internationals. Interestingly, in Breckenridge this July, single family, duplex and condo sales all outpaced the July 2017 numbers,…

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What is hot in Summit County Real Estate?  Everything, but some sectors are burning especially bright. In May, single family homes in both Breckenridge and greater Summit County gently outpaced 2017 numbers. The multi-year trend of fewer listings following a seasonal arc with a building towards high summer peak continues. 

We are seeing about a 20 percent decline in available properties in Breckenridge from this point in 2017 and a 15 percent reduction in available listings for the greater Summit County market. The decline in listings outpaces the decline in closed sales. Despite the smaller inventory, buyers are buying and sales are closing. We expect another record summer as community investments in arts and open space have created an even richer…

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During their March meeting, the Fed raised its economic growth forecast to 2.7%, up from 2.5% in December, and there remains the possibility that the rate hikes for 2018 may happen at a more aggressive pace than originally thought at the start of the year.

Whether it’s the healthy economy, the possibility of higher mortgage rates in the near future, or just the General Awesomeness (that is a technical term for ski country housing, FYI) of Summit County, Colorado, the real estate market continues to hum. Like a jet engine.

So far in 2018, 209 condos have sold in Summit County, at a 13.415 appreciation over 2017 numbers. Those condos are selling at an average price of $484,000 and at a ratio of 98% sales price to list price. In 2018, one needs to be…

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