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Breckenridge and Summit County Market Watch | October 2017

Posted by Breckenridge Associates Real Estate on Tuesday, October 10th, 2017 at 11:11pm.

Any way you slice the real estate market in Summit County, Breckenridge Associates Real Estate is proudly always at or near the top of the list. By dollar volume, by number of transactions, and whether considering all of Summit County, or Breckenridge only- you’ll find our name up top. We don’t have the most brokers; we are efficient, professional and our clients return and they trust us with their friends and loved ones. We are extremely proud to serve our clients and community with quality service and attention.

While the overall economic indicators are somewhat of a mixed bag right now, most economists seem to agree that the soft spots can be attributed to the recent slew of natural and manmade disasters- the hurricanes have cause some to put hiring on hold. The Jobs Report shows a loss of 33,000 jobs, but an increase in hourly wage and an unemployment rate of only 4.2 percent. Consumer confidence is soaring, and “the third-quarter CNBC All-America Economic Survey found 43 percent of the public believes the economy is excellent or good, a record high in the 10-year history of the survey,” according to CNBC’s special report about their All- America Economic Survey.

In a market as dynamic and competitive as our ski town area, having us on your side with our ear to the ground can make a deep difference. For almost every single month since January of 2011, the amount of available listings in both greater Summit County and Breckenridge as a stand- alone market have dropped from the year before. In 2017 condos and townhomes have been listing and closing in less than two months, and that includes the time between a sales contract and closing date. This market moves fast. In fact, the average days on market for a condo in Breckenridge in 2017 is 52 days, down from what we thought was a rocket fast 100 days in 2016. The average price per square foot in this same Breckenridge condo sector grew to $625.94 per square foot, compared to 2016’s $522.64 per square foot price. In the greater Summit County marketplace, condos only lasted 42 days and for average sales price of almost 13.5% more that 2016 numbers.

Snapshot- available listings are down, and selling fast for close to an almost constantly and consistently appreciating asking price. We’ve been here, successfully negotiating these competitive waters for years! Whether you’d like to find your first mountain home, trade up, simplify, find an investment or just learn more, we are here to help. Give any one of our Broker/Owners a call today.

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