Breckenridge & Summit County Real Estate Statistics | Breckenridge Associates Real Estate | Page #5

The Source Magazine is your go-to real estate information guide for Summit and Park Counties, provided by the expert team at Breckenridge Associates Real Estate. The Source Magazine will provide you with a snapshot of our current real estate listings and the real estate market in the area. Please stop by our Main Street location or call us at 970-453-2200 to meet with one of our real estate experts for up to the minute availability and to get to know our Home Town Team.

We have a demonstrable track record of commitment to our community. Our high percentage of return clients and referrals is a proud hallmark of our service. Each of our 16 Broker/Partners would be happy to help connect you with your next mountain home.

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For the first time in six years, the number of active listings in Breckenridge is within statistical striking distance of the previous years numbers. This is great news for buyers, and should help to provide a little breathing room as you search for your dream mountain home. However, we are still in a competitive and fast moving market, best illustrated by the condo and townhome statistics for all areas and all price points; they are selling at an average of 98% sale to list price, and are only on the market for an average of 52.5 days. So while you have a little more to choose from then we trend watchers may have anticipated for June 2017, a strong game plan and knowledgeable broker are still your best bet.

Average prices continued to climb, with…

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The April Jobs Report showed the lowest unemployment rate in a decade at 4.4 percent, with an estimated 211,000 jobs created. While other economic indicators over the last month have been mixed, the Federal Reserve expects a moderate pace of economic activity expansion. This keeps the Fed on track for an expected second mortgage rate increase in 2017.

Freddie Mac says mortgage rates are currently hovering around 4 percent, up just under half a point from this time last year.

There are about 20 percent fewer active listings in Summit County and 23 percent fewer in Breckenridge compared to this date in 2016; however, the number of closed sales are up - in both greater Summit County and Breckenridge viewed as a stand-alone market.

In Breckenridge,…

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After January's rocket ship, Summit County real estate sales slowed in February, but the launch that began the year is the anomaly, not last months sales numbers.  January's record closings likely originated in the last months of 2016 from buyers positioning to get in front of any uncertainly from a new administration and possible rate increases.

February 2017 sales numbers were mixed by category, but lower than last years' numbers overall, although the sold price per square foot continues to increase. Summit County's real estate market is small compared to big cities and so total sales volume is always less important than the increase in value (selling price per square foot or acre).

Our relatively small marketplace feels very small in March 2017…

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In a long awaited move the Fed raised rates in December 2016 by half a point to .50% -.75%, after holding the overnight interbank lending rate a 0-.25%, (which is effectively zero percent) from June 2006 until December 2015. We are still at a historic, and some feel unhealthy, low rate.

Many market experts expect the rate, which reacts to an expanding economy and impacts the rate at which we can all borrow money, to rise possibly three more times in 2017.

The next Fed meeting is March 15-16 and as of this writing on March 3rd, expectations of a hike amongst market watchers and experts have recently jumped to just over 50%.

What this means for the housing market is higher mortgage rates, expected to top out at 4.3%. There are two ways to look at…

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2017 is off to a bang in Breckenridge. While the number of available listings is only a fraction compared to this time last year, sales are up over 56% across all residential property types and up 100% for single-family homes alone.  All other areas of the county are trending in a similar manner, with available residential listings lagging behind 2016 numbers between 25-40%, with the notable exception of townhomes. Townhomes alone buck the trend; there are twice as many listed today as compared to this time last year.  Pending sales numbers are also high, leading us to predict continuing growth in February.

A multi-year trend of declining available listings makes one wonder- do people love their Summit County homes so much that we just don’t want…

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In 2016 Breckenridge Associates Real Estate handled almost 40% of all active listings in Breckenridge.The other 60% of active listings were divided between 14 other offices. Feel free to browse more current market statistics. We are proud of the continued support of our clients and community and pledge to continue our service-forward model into 2017 and beyond.

So - we have a new year, a new president, a new House and Congress and new interest rates. All of that should add up to some instability in the market, right? However, we have a special situation here in Breckenridge. We are a real-live town, with a nationally recognized arts district, we happen to be connected to a world-class ski area, are bounded by national forest and just a short drive…

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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…

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The Fed met in September and held bank’s key interest rate, pushing speculation of a probable December rate hike higher. Since the mortgage market often moves in anticipation of a Fed rate hike, a correction after a meeting without a rate hike is not uncommon. So right now we are in the sweet spot of low interest rates in response to the September meeting, but before anticipation of the expected December rate hike.

What does that mean for you- the real estate Buyer or Seller? We may see more interest in the market as we march towards what could be the end of record low mortgage rates.

It’s good to be looking in Summit and Park County now, as our summer high season is waning and sales activity have peaked. You can take a breath, look around, see the…

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On Friday, September 9, 2016 mortgage rates made their biggest leap in two years, though still holding near record lows. 30 years mortgages are now averaging around 3.5%.

The Fed is scheduled to meet September 20 and 21st. The possibility of a rate hike is unlikely, especially in the face of a somewhat weak August jobs report. However, a hike would not necessarily further boost mortgage rates as these rates tend to rise in anticipation of a hike but tend to level or fall in correction after the actual Fed announcement.

Locally, we are in the fourth year of downward trend in the number of active listings, with ever shortening listing times and sales prices holding strong at 96-98% of listing price across all areas and listing types. Condominiums…

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