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Appreciation continues in Summit and Park Counties

Posted by Breckenridge Associates Real Estate on Thursday, November 10th, 2016 at 2:30pm.

We are proudly the top selling office in Breckenridge year to date. Breckenridge Associates Real Estate Brokers/Partners have participated in over 26% of all residential real estate transactions in Breckenridge and over 10% of all real estate transactions county wide. We have sold the most dollar volume of any office in 2016. We are connected to the pulse of the market, ready to help you successfully buy or sell your next mountain home.

Summit and Park County 2016 summer through the end of October real estate listing and sales statistics followed a multi-year pattern of a July ramp up with a gentle summer curve with an August peak. October is historically the second slowest month of the back half of our year, though this year we saw an uptick in October closings of single family homes in Summit County over 2015 numbers. Smart shoppers will be bargain hunting before that possible Fed rate hike in December and the possible instability that tends to follow presidential elections.

October numbers followed the summer trend of high list to sales prices ratios, record short days on market and record setting prices per square foot. October sales showed appreciation in all segments of the market, including duplexes, condos, townhomes and single-family homes. The number of listings remains low relative to past years, bringing down the overall number of year over year closings, driving appreciation and short listing periods.

Into fall we continue to see especially short listing periods for all property types throughout the region, with sales to list prices between 96% and 98%. This tells us that properties are generally fairly priced and selling quickly. For those who were looking for your dream home in the pressure of the summer season, early winter offers a welcome respite from high-pressure decision making. The Breckenridge condo market continues to appreciate, showing more than a 7.5% rise after last year’s 13 percentage points. Try to find another investment that offers those types of potential returns AND has a hot tub, a nearby ski hill, a performing arts center and so much more.

Having a knowledgeable Broker, like anyone at Breckenridge Associates Real Estate, on your team in such a specialized market is always a good idea. Please call today, at 970-453-2200, for a peak (peek, get it?) of what your dream mountain life could be.

 

 

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