Did You Know? Breckenridge Real Estate Update & Outlook
2010 Real Estate Recap
Local real estate in 2010 proved to be a year of rebuilding and gathering strength for real estate in Breckenridge. Our market made great strides over 2009 with significant sales volume increases in Single Family Homes, Condos and Land as well as a reduction in existing inventory overall. Breckenridge Associates Real Estate was the top performing office in Breckenridge sales transactions for the year. We represented a combination of 110 listing and selling sides in Breckenridge, or 13% of the 816 total sales sides for the year.

2011 1st Quarter Real Estate Sales Transactions & Volume
The first quarter of 2011 has shown continued upward momentum in Breckenridge real estate when compared to the first three months of 2010. At the close of the quarter, sales transactions were up more than 33% over the same time frame last year and nearly tripled from the first quarter of 2009.

Our real estate office continues to be a top performer in transaction numbers for Breckenridge into the first quarter of this year. As of March 1, we were involved in 15% of Breckenridge
sales transactions year to date.

2011 Market Trends – Pricing & Foreclosures
It is still a Buyer’s Market, however we have seen pricing somewhat stabilize throughout Breckenridge. Many sellers have come down considerably from their original asking price and have priced to sell. When sellers are pricing their property in line with where it should be in the marketplace, sales are happening. Our real estate team can provide insight on pricing your property to sell as we move into the prime real estate season.

While the Breckenridge market wasn’t hit as hard and fast with foreclosures as witnessed at a national level, we have seen a growing number of foreclosures in recent years. In 2009 there were 47 foreclosures, 2010 had 104 foreclosures and so far there have already been 59 foreclosures in 2011 (January 1 – April 15).

If you might be facing a foreclosure on your property, we can help. Contact our experienced real estate team to discuss the short sale process, a possible alternative to foreclosing on your home.

2011 Pending Sales & Looking Ahead
Pending sales help to paint a clear picture of what is happening now in the market. Breckenridge shows 69 properties under contract (as of April 20, 2011): Single Family = 5, Duplex = 2, Condos = 19 and Townhome = 1 . When compared to first quarter sales transaction numbers of 2010, these contracts are positive signs of market stabilization.

If you are considering listing your Breckenridge property this summer, contact your real estate Broker now to begin the process and take full advantage of maximizing your listing’s exposure.

At Breckenridge Associates Real Estate, we care about you. We care about your home. We’ll take care of you and help you achieve your goals. You are our priority. Contact our team of Brokers to learn more about how we can represent you and the sale of your home.

Source: 2009, 2010 Year End MLS Data & 2011 MLS Data – January-April, 2011.

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