2023 Quarter 1: A Recalibrating Market
So far, 2023 has seen a record low number of sales across Summit County with 229 sales in Q1. 2009 was the last time when the number of sales county-wide for the year was below 1,000. However, average sold prices for all property types are approximately double those of 2009. Once again affirming that the Summit County market remains a haven for investable assets while most markets around the country experience turbulence.
Low Inventory, High Demand
While the number of sales across the county has decreased, the average sold price for all property types in Breckenridge has continued to appreciate throughout Q1 at 6.72%. The average sold price for Breckenridge condos is up 13.94% versus 2022, while the average sold price for single family homes in Breckenridge is only up 3.82% versus 2022. One reason we may be seeing the average sold price of single-family homes in Breckenridge not appreciating as greatly as condos could be the lack of short-term rental licenses available for single family homes.
BARE Remains Top Office in Breckenridge
Even though the Summit County housing market continues to change, Breckenridge Associates Real Estate remains the #1 top selling office for closed transactions in Breckenridge, as well as #1 Top Selling Office in Breckenridge for closed transactions per Broker.
As the market continues to recalibrate, your BARE Broker knows what strategies work best locally and is an invaluable resource in getting you the best price. Contact your BARE Broker today to discuss listing your property!
Posted by Breckenridge Associates Real Estate on
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