Q1 Brings Positive Growth Across All Property Types

The first quarter of 2024 has seen an upward trend across all property types. The ongoing all-time high valuations in the equity markets, coupled with positive "soft landing" national news and historically low inventory levels have continued to drive growth in our resort market.

Impact by Property Type in Breckenridge:

Single Family Homes Up 15.83% YTD

The average sold price for Single-Family Homes has increased to $2,759,808, representing a 15.83% appreciation over 2023. This property type is selling on average at 95% of the list price, with an average price per square foot of $749, and an average days on market of 102.

Townhomes Up 14.08% YTD

Townhomes have seen a 14.08% increase in the average sold price compared to 2023, reaching $1,862,620. This property type is selling on average at 100% of the list price, with an average price per square foot of $917, and an average days on market of 26.

Condominiums Up 11.48% YTD

Condominiums have experienced an 11.48% increase in the average sold price, now standing at $1,002,111.  This property type is selling on average at 97% of the list price, with an average price per square foot of $1,012, and an average days on market of 53.

Strong Numbers Across the County

Summit County continues to show robust performance in all property types as well.

County-Wide Market Performance:

All Residential Average Sold Price Up 7.78%

The average sold price for All Residential Properties has increased by 7.78% to $1,391,827.  Overall residential property is selling on average at 97% of the list price, with an average price per square foot of $806, and an average days on market of 55.

Townhome Average Price Up 25.45%

County-Wide Townhomes have seen a significant increase in the average price, rising by 25.45% to $1,497,168.  This property type is selling on average at 99% of the list price, with an average price per square foot of $806, and an average days on market of 31.

Single Family Average Price Up 21.17%

The average price for Single-Family Homes in Summit County has increased 21.17% to $2,563,420. This property type is selling on average at 96% of the list price, with an average price per square foot of $726, and an average days on market of 87.

Continued Growth in Dollar Volume and Transactions

While active listings in Breckenridge remain historically low, there is a trend towards normalization back to 2017-2019 levels as the market becomes more balanced.

County-wide dollar volume and the number of transactions is on the rise, indicating a healthy market. In Q1 2024, total closed sales volume equaled $389,232,656, with 322 properties sold, marking an 18.8% increase compared to Q1 2023.

BARE Remains the #1 Office in Breckenridge

Breckenridge Associates Real Estate maintained its leading position in the Breckenridge market, capturing 12.04% of market share and an impressive Year-to-Date (YTD) sales totaling $40,145,000 across 20 office transactions.

Listing Season is Here

The real estate market in Breckenridge and Summit County remains healthy and robust, with sustained growth in property values and transaction volumes. As the top producing Breckenridge office and one of the top producing offices county-wide, Breckenridge Associates Real Estate is well positioned to help you navigate the market and achieve your real estate goals.

For more information on the current market trends and how they may impact your real estate decisions, call Breckenridge Associates at 970-453-2200 or contact your Broker directly.

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