Current inventory (supply) vs. sales (demand) within the single family home market segment of Breckenridge real estate is reflective of a market trend when summarizing statistics through 2018. In defining supply vs. demand in reference to single family homes, supply is defined as the current number of active Breckenridge listings, while demand is defined as the number of sales. We’ve taken a snapshot of the single family market and reviewed how the market performed in different price categories within the single family home market segment in 2018.
As shown in our graphic, demand in the $1-2 million listing category of Breckenridge far surpasses available inventory. The $2-3 million price categories follows suit in outpacing supply, but with fewer sales than the $1-2 million listings. The $3-4 million price category keeps up with the pace of demand, while the $4 million category indicates less demand compared to the number of listings.
A key takeaway from this data is single family homes priced from $1-3 million are desirable for the current buyer. If you have a home within this price point and are considering listing, there’s no time like the present to market your property and take advantage of an attractive sellers climate within this category and price range.
Single family homes are typically getting very close to selling at listing price and are selling faster too. Sellers are seeing an average of 96 percent of sales-price-to-list-price year over year. Likewise, the average number of consecutive days on market for the single family home market was 83 in 2018 compared to 104 in 2017.
Are you interested in learning more about market trends in and around Breckenridge? Let’s meet and discuss local real estate and future opportunities in Breckenridge and Summit County.
Breckenridge Associates Real Estate. Local Experts On Local Living.
*Based on year to date data through December 31, 2018. Data provided by Summit MLS, Inc.