Leaves have fallen and temperatures have dropped. So is the Breckenridge and Summit County real estate market dropping as well? It’s that time of year when fewer people are relocating and fewer people are spending time driving through neighborhoods with wishful thinking. However, as of October 2021, the Rocky Mountain high country remains a seller's market. The most recent Summit County MLS statistics indicate signs of balancing but not dropping or cooling.
The numbers for Fall 2021 remain the same as Summer and are even going up in some categories.
An increase in active listings is usually a good sign for buyers and they are up, but only by a slight margin with a current 91 active listings for Breckenridge and 234 for Summit County. An increase in active listings typically provides buyers more time to evaluate a home and have bit less competition in terms of the total number of offers. However, both closings and showings were up slightly in September over August. Days in the MLS remains the same at average of 32 for both Breckenridge and Summit County. List-to-sales-price ratio as of September 30, 2021 remains at 100% for both Breckenridge and Summit County.
The average sales price for a single-family home sold by September 30, 2021 was $1.5M for Summit County and $1.68M for Breckenridge.
Demand will continue to outweigh supply. Prices are expected to rise further in 2022 due to inventory shortages, the increased cost of building labor and supplies, the shift to a growing remote workforce, and the emerging buyers in the millennial age group.
More than even, buyers will need a real estate professional with deep roots in the community and expert market knowledge, like the agents at Breckenridge Associates. We have an entire team waiting to answer your questions and earn your trust. Please stop by our Main Street office, call or email today.970.453.2200.
Posted by Breckenridge Associates Real Estate on