2024 End of Year Real Estate Market Stats for Breckenridge & Summit County

2024 Summit County Real Estate Market Report

The 2024 Summit County real estate market is currently experiencing two contrasting markets. In one market, Breckenridge is facing record-low inventory levels and unprecedented demand for luxury homes.  The other, broader Summit County market is seeing a different story playout, with rising inventory levels and slowing demand, particularly for properties that appeal to buyers who require financing.

This dual-market dynamic highlights the need to understand each segment's unique characteristics to navigate today's real estate landscape successfully.

Breckenridge: Luxury Market on the Rise

Breckenridge continues to see a boom in luxury home sales, driven by cash buyers looking to diversify their investments.  With valuations in the equity markets continuing to set records, cash buyers are turning to prime real estate in Breckenridge, leading to record-high average sale prices.

In 2024, Breckenridge saw 17 single-family sales priced above $6 million, more than double the number of luxury sales from 2023.  Breckenridge Associates Real Estate (BARE) represented seven of these sales, further solidifying our position as the top-producing office in town.

County-Wide Trends: Increasing Inventory and Slower Demand

Outside of Breckenridge, Summit County as a whole is seeing a shift toward increasing inventory and slower demand. This is particularly evident for entry-level and mid-range properties, which tend to attract buyers reliant on financing. These properties are also feeling the impact of short-term rental restrictions, which have placed additional pressure on this segment.

Unit Sales Return to Historically Low Levels

While average pricing remains strong, the number of units sold in 2024 is approaching the record lows last seen during the last recession period of 2009-2012, reflecting the shifting dynamic of the market.

Understanding Buyer Segments

The contrasting trends in the Summit County market can largely be attributed to the types of buyers in each segment. The luxury market, fueled by cash buyers, remains robust. These buyers are less impacted by rising interest rates and are focused on acquiring premium properties in prime locations.

Conversely, entry- and mid-range properties are feeling the impact of stricter lending conditions and short-term rental restrictions, resulting in longer days on market and more price reductions.

Breckenridge Associates Real Estate Remained a Market Leader in 2024

In this complex market, Breckenridge Associates Real Estate continues to lead the way, achieving record-breaking sales figures and market share in Breckenridge.

BARE’s 2024 Breckenridge Performance Highlights:

#1 in Total Sales Volume YTD: $246 million

#1 in Sales Volume per Broker: $12.3 million per broker

#1 in Market Share: 13.43% of the Breckenridge market

#1 in Luxury Sales ($1M+): 66 transactions

BARE’s proven performance and deep understanding of the local market make our Brokers the go-to experts for navigating Summit County’s unique market conditions.

Your Source for Up-to-date Market Performance Information

For the most current information on the Breckenridge and Summit County real estate market conditions, visit our Market Stats page. You’ll find information on appreciation rates, performance by property type, market stats by location, and our full “How’s the Market?” report!


Posted by Breckenridge Associates Real Estate on

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